Mystic Asset Management Inc. Decreases Position in GXO Logistics, Inc. (NYSE:GXO)

Mystic Asset Management Inc. lessened its holdings in GXO Logistics, Inc. (NYSE:GXO - Free Report) by 42.8% during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 11,740 shares of the company's stock after selling 8,775 shares during the period. Mystic Asset Management Inc.'s holdings in GXO Logistics were worth $459,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the business. State of Michigan Retirement System grew its holdings in GXO Logistics by 1.1% during the 1st quarter. State of Michigan Retirement System now owns 28,627 shares of the company's stock valued at $1,119,000 after buying an additional 300 shares in the last quarter. Louisiana State Employees Retirement System raised its position in shares of GXO Logistics by 0.9% in the first quarter. Louisiana State Employees Retirement System now owns 33,500 shares of the company's stock worth $1,309,000 after buying an additional 300 shares in the last quarter. GAMMA Investing LLC raised its position in shares of GXO Logistics by 57.0% in the first quarter. GAMMA Investing LLC now owns 832 shares of the company's stock worth $33,000 after buying an additional 302 shares in the last quarter. Treasurer of the State of North Carolina lifted its holdings in shares of GXO Logistics by 0.6% during the 4th quarter. Treasurer of the State of North Carolina now owns 51,616 shares of the company's stock worth $2,245,000 after acquiring an additional 330 shares during the last quarter. Finally, Whittier Trust Co. of Nevada Inc. grew its position in GXO Logistics by 33.7% in the fourth quarter. Whittier Trust Co. of Nevada Inc. now owns 1,380 shares of the company's stock worth $60,000 after acquiring an additional 348 shares in the last quarter. 90.67% of the stock is owned by institutional investors.

GXO Logistics Stock Performance

Shares of GXO stock traded down $0.11 during mid-day trading on Monday, reaching $50.26. 193,956 shares of the company's stock traded hands, compared to its average volume of 1,344,398. The firm has a 50 day moving average price of $45.25 and a two-hundred day moving average price of $41.67. GXO Logistics, Inc. has a 12 month low of $30.46 and a 12 month high of $63.33. The firm has a market capitalization of $5.75 billion, a PE ratio of 81.10, a price-to-earnings-growth ratio of 1.84 and a beta of 1.64. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.78 and a current ratio of 0.78.

GXO Logistics (NYSE:GXO - Get Free Report) last released its quarterly earnings data on Wednesday, May 7th. The company reported $0.29 EPS for the quarter, beating the consensus estimate of $0.26 by $0.03. GXO Logistics had a net margin of 0.61% and a return on equity of 10.49%. The business had revenue of $2.98 billion during the quarter, compared to the consensus estimate of $2.94 billion. During the same quarter in the prior year, the firm earned $0.45 EPS. The business's revenue was up 21.2% on a year-over-year basis. On average, research analysts forecast that GXO Logistics, Inc. will post 2.49 EPS for the current year.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on GXO. Citigroup upped their target price on shares of GXO Logistics from $56.00 to $59.00 and gave the stock a "buy" rating in a research report on Wednesday, July 9th. JPMorgan Chase & Co. increased their price objective on GXO Logistics from $52.00 to $56.00 and gave the company an "overweight" rating in a research report on Tuesday, July 8th. Truist Financial upgraded GXO Logistics from a "hold" rating to a "buy" rating and increased their price objective for the company from $48.00 to $62.00 in a research report on Friday, July 11th. Susquehanna reiterated a "positive" rating and set a $58.00 price objective (up from $57.00) on shares of GXO Logistics in a research report on Tuesday, June 24th. Finally, Wells Fargo & Company boosted their price target on shares of GXO Logistics from $48.00 to $57.00 and gave the stock an "overweight" rating in a research note on Monday, July 7th. Four research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $57.43.

GXO Logistics Company Profile

GXO Logistics, Inc, together with its subsidiaries, provides logistics services worldwide. The company provides warehousing and distribution, order fulfilment, e-commerce, reverse logistics, and other supply chain services. As of December 31, 2023, it operated in approximately 974 facilities. The company serves various customers in the e-commerce, omnichannel retail, technology and consumer electronics, food and beverage, industrial and manufacturing, consumer packaged goods, and others.