Northern Trust Corp Purchases 19,160 Shares of GXO Logistics, Inc. $GXO

Key Points

• Northern Trust Corp increased its stake in GXO Logistics by 1.9%, acquiring an additional 19,160 shares to own a total of 1,024,392 shares worth approximately $40 million.
• Multiple research firms have upgraded their ratings on GXO Logistics, with Wells Fargo raising the price target from $57.00 to $60.00 and ten analysts now rating the stock as a "Buy."
• GXO Logistics reported a 15.9% year-over-year revenue increase, with quarterly earnings of $0.57 per share exceeding analysts' expectations of $0.56.

Northern Trust Corp boosted its position in shares of GXO Logistics, Inc. (NYSE:GXO - Free Report) by 1.9% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,024,392 shares of the company's stock after buying an additional 19,160 shares during the quarter. Northern Trust Corp owned 0.88% of GXO Logistics worth $40,033,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Raymond James Financial Inc. raised its stake in shares of GXO Logistics by 9.3% in the 1st quarter. Raymond James Financial Inc. now owns 525,128 shares of the company's stock valued at $20,522,000 after acquiring an additional 44,557 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of GXO Logistics by 29.0% during the 1st quarter. Dimensional Fund Advisors LP now owns 3,608,468 shares of the company's stock worth $141,021,000 after purchasing an additional 810,298 shares in the last quarter. Kovitz Investment Group Partners LLC boosted its stake in GXO Logistics by 27.0% in the 1st quarter. Kovitz Investment Group Partners LLC now owns 3,330,176 shares of the company's stock valued at $130,143,000 after buying an additional 708,661 shares in the last quarter. Russell Investments Group Ltd. boosted its stake in GXO Logistics by 22.8% in the 1st quarter. Russell Investments Group Ltd. now owns 120,873 shares of the company's stock valued at $4,724,000 after buying an additional 22,415 shares in the last quarter. Finally, HighTower Advisors LLC boosted its stake in GXO Logistics by 36.1% in the 1st quarter. HighTower Advisors LLC now owns 8,938 shares of the company's stock valued at $349,000 after buying an additional 2,371 shares in the last quarter. Institutional investors and hedge funds own 90.67% of the company's stock.

Analyst Upgrades and Downgrades

GXO has been the topic of several analyst reports. Stifel Nicolaus increased their target price on GXO Logistics from $63.00 to $67.00 and gave the company a "buy" rating in a research note on Monday, June 23rd. Susquehanna increased their price objective on GXO Logistics from $58.00 to $60.00 and gave the stock a "positive" rating in a report on Thursday, August 7th. UBS Group raised their price target on GXO Logistics from $50.00 to $58.00 and gave the company a "buy" rating in a research note on Thursday, August 7th. Wells Fargo & Company raised their price objective on GXO Logistics from $57.00 to $60.00 and gave the company an "overweight" rating in a research report on Thursday, August 7th. Finally, Truist Financial raised GXO Logistics from a "hold" rating to a "buy" rating and raised their price objective for the company from $48.00 to $62.00 in a research report on Friday, July 11th. Ten investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $59.50.

GXO Logistics Stock Performance

Shares of NYSE:GXO traded down $1.36 during trading on Tuesday, hitting $51.29. 307,219 shares of the company were exchanged, compared to its average volume of 1,414,243. The company has a market cap of $5.87 billion, a PE ratio of 96.82, a P/E/G ratio of 2.11 and a beta of 1.65. The stock has a 50 day moving average of $51.16 and a 200 day moving average of $43.34. GXO Logistics, Inc. has a 52-week low of $30.46 and a 52-week high of $63.33. The company has a debt-to-equity ratio of 0.87, a current ratio of 0.76 and a quick ratio of 0.76.

GXO Logistics (NYSE:GXO - Get Free Report) last issued its quarterly earnings data on Tuesday, August 5th. The company reported $0.57 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.56 by $0.01. GXO Logistics had a return on equity of 10.45% and a net margin of 0.50%.The company had revenue of $3.30 billion for the quarter, compared to the consensus estimate of $3.09 billion. During the same quarter last year, the business posted $0.55 earnings per share. The firm's revenue was up 15.9% compared to the same quarter last year. As a group, equities research analysts predict that GXO Logistics, Inc. will post 2.49 EPS for the current year.

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.