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

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

A number of other large investors also recently bought and sold shares of the business. Vanguard Group Inc. boosted its holdings in GXO Logistics by 1.9% during the 4th quarter. Vanguard Group Inc. now owns 11,332,805 shares of the company's stock valued at $492,977,000 after acquiring an additional 212,254 shares during the period. Clearbridge Investments LLC increased its holdings in GXO Logistics by 3.8% during the 4th quarter. Clearbridge Investments LLC now owns 4,228,144 shares of the company's stock worth $183,924,000 after purchasing an additional 153,522 shares during the period. Dimensional Fund Advisors LP increased its holdings in GXO Logistics by 1.8% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,798,170 shares of the company's stock worth $121,718,000 after purchasing an additional 50,682 shares during the period. Kovitz Investment Group Partners LLC increased its holdings in GXO Logistics by 28,112.6% during the 4th quarter. Kovitz Investment Group Partners LLC now owns 2,621,515 shares of the company's stock worth $114,036,000 after purchasing an additional 2,612,223 shares during the period. Finally, Spruce House Investment Management LLC raised its holdings in shares of GXO Logistics by 133.3% in the fourth quarter. Spruce House Investment Management LLC now owns 2,100,000 shares of the company's stock valued at $91,350,000 after acquiring an additional 1,200,000 shares in the last quarter. Hedge funds and other institutional investors own 90.67% of the company's stock.

GXO Logistics Stock Down 1.9%

NYSE GXO traded down $1.00 on Friday, hitting $50.40. The stock had a trading volume of 744,838 shares, compared to its average volume of 1,344,975. The business's fifty day moving average price is $45.25 and its 200 day moving average price is $41.69. The company has a debt-to-equity ratio of 0.88, a current ratio of 0.78 and a quick ratio of 0.78. GXO Logistics, Inc. has a 52-week low of $30.46 and a 52-week high of $63.33. The stock has a market cap of $5.77 billion, a price-to-earnings ratio of 81.29, a price-to-earnings-growth ratio of 1.87 and a beta of 1.64.

GXO Logistics (NYSE:GXO - Get Free Report) last released its quarterly earnings results on Wednesday, May 7th. The company reported $0.29 earnings per share (EPS) for the quarter, topping 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 for the quarter, compared to analyst estimates of $2.94 billion. During the same period in the previous year, the company earned $0.45 earnings per share. The business's revenue for the quarter was up 21.2% on a year-over-year basis. Equities research analysts anticipate that GXO Logistics, Inc. will post 2.49 earnings per share for the current year.

Wall Street Analyst Weigh In

Several analysts recently weighed in on GXO shares. Susquehanna restated a "positive" rating and issued a $58.00 price objective (up from $57.00) on shares of GXO Logistics in a report on Tuesday, June 24th. Citigroup lifted their price objective on GXO Logistics from $56.00 to $59.00 and gave the company a "buy" rating in a report on Wednesday, July 9th. Truist Financial upgraded GXO Logistics from a "hold" rating to a "buy" rating and upped their target price for the stock from $48.00 to $62.00 in a report on Friday, July 11th. Stifel Nicolaus upped their target price on GXO Logistics from $63.00 to $67.00 and gave the stock a "buy" rating in a report on Monday, June 23rd. Finally, Wells Fargo & Company upped their target price on GXO Logistics from $48.00 to $57.00 and gave the stock an "overweight" rating in a report on Monday, July 7th. Four equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat, GXO Logistics presently has an average rating of "Moderate Buy" and a consensus target price of $57.43.

About GXO Logistics

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.