New York State Common Retirement Fund Lowers Position in GXO Logistics, Inc. (NYSE:GXO)

New York State Common Retirement Fund cut its stake in GXO Logistics, Inc. (NYSE:GXO - Free Report) by 62.1% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 75,995 shares of the company's stock after selling 124,457 shares during the period. New York State Common Retirement Fund owned 0.06% of GXO Logistics worth $2,970,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in GXO. State of Michigan Retirement System grew its stake in shares of GXO Logistics by 1.1% in the first quarter. State of Michigan Retirement System now owns 28,627 shares of the company's stock worth $1,119,000 after acquiring an additional 300 shares during the last quarter. GAMMA Investing LLC lifted its position in GXO Logistics by 57.0% during the 1st quarter. GAMMA Investing LLC now owns 832 shares of the company's stock valued at $33,000 after purchasing an additional 302 shares during the period. Treasurer of the State of North Carolina increased its stake in shares of GXO Logistics by 0.6% in the 4th quarter. Treasurer of the State of North Carolina now owns 51,616 shares of the company's stock valued at $2,245,000 after acquiring an additional 330 shares during the last quarter. State of Alaska Department of Revenue increased its stake in shares of GXO Logistics by 2.8% in the 1st quarter. State of Alaska Department of Revenue now owns 14,004 shares of the company's stock valued at $547,000 after acquiring an additional 380 shares during the last quarter. Finally, Belpointe Asset Management LLC grew its position in shares of GXO Logistics by 8.9% in the 4th quarter. Belpointe Asset Management LLC now owns 5,728 shares of the company's stock valued at $249,000 after purchasing an additional 470 shares during the period. 90.67% of the stock is owned by institutional investors and hedge funds.

GXO Logistics Trading Up 1.4%

Shares of NYSE:GXO opened at $50.97 on Wednesday. The business has a 50-day moving average price of $45.25 and a 200-day moving average price of $41.67. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 0.88. The stock has a market cap of $5.83 billion, a price-to-earnings ratio of 82.21, a PEG ratio of 1.83 and a beta of 1.64. GXO Logistics, Inc. has a 52-week low of $30.46 and a 52-week high of $63.33.

GXO Logistics (NYSE:GXO - Get Free Report) last posted its 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 return on equity of 10.49% and a net margin of 0.61%. The firm had revenue of $2.98 billion for the quarter, compared to analyst estimates of $2.94 billion. During the same quarter in the prior year, the company earned $0.45 EPS. GXO Logistics's revenue was up 21.2% on a year-over-year basis. Equities analysts predict that GXO Logistics, Inc. will post 2.49 EPS for the current year.

Wall Street Analysts Forecast Growth

GXO has been the topic of a number of recent research reports. Stifel Nicolaus upped their price target on GXO Logistics from $63.00 to $67.00 and gave the company a "buy" rating in a research report on Monday, June 23rd. Citigroup lifted their price objective on GXO Logistics from $56.00 to $59.00 and gave the company a "buy" rating in a research note on Wednesday, July 9th. Barclays lifted their target price on GXO Logistics from $45.00 to $52.00 and gave the stock an "equal weight" rating in a report on Thursday, July 10th. Wells Fargo & Company lifted their target price on GXO Logistics from $48.00 to $57.00 and gave the company an "overweight" rating in a research report on Monday, July 7th. Finally, Truist Financial upgraded GXO Logistics from a "hold" rating to a "buy" rating and boosted their target price for the stock from $48.00 to $62.00 in a research report on Friday, July 11th. Four investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average 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.

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