Oppenheimer & Co. Inc. Raises Stake in GXO Logistics, Inc. (NYSE:GXO)

Oppenheimer & Co. Inc. boosted its stake in shares of GXO Logistics, Inc. (NYSE:GXO - Free Report) by 8.6% during the 1st quarter, according to its most recent filing with the SEC. The firm owned 85,741 shares of the company's stock after purchasing an additional 6,819 shares during the period. Oppenheimer & Co. Inc. owned approximately 0.07% of GXO Logistics worth $3,351,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Kovitz Investment Group Partners LLC increased its holdings in shares of 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 valued at $114,036,000 after purchasing an additional 2,612,223 shares in the last quarter. Norges Bank acquired a new stake in GXO Logistics during the fourth quarter valued at $55,266,000. Spruce House Investment Management LLC increased its holdings in 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 buying an additional 1,200,000 shares in the last quarter. Alyeska Investment Group L.P. purchased a new position in GXO Logistics in the fourth quarter valued at $46,523,000. Finally, Vaughan Nelson Investment Management L.P. raised its position in shares of GXO Logistics by 66.2% in the first quarter. Vaughan Nelson Investment Management L.P. now owns 1,819,395 shares of the company's stock worth $71,102,000 after acquiring an additional 724,535 shares during the period. 90.67% of the stock is owned by institutional investors and hedge funds.

GXO Logistics Price Performance

Shares of NYSE GXO opened at $47.89 on Thursday. The firm has a 50-day simple moving average of $40.41 and a 200-day simple moving average of $41.07. 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 capitalization of $5.48 billion, a price-to-earnings ratio of 77.24, a price-to-earnings-growth ratio of 2.24 and a beta of 1.59. 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 announced its quarterly earnings data on Wednesday, May 7th. The company reported $0.29 earnings per share (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 company had revenue of $2.98 billion during the quarter, compared to analysts' expectations 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% compared to the same quarter last year. On average, equities analysts predict that GXO Logistics, Inc. will post 2.49 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts have recently commented on GXO shares. Wells Fargo & Company raised their target price on GXO Logistics from $44.00 to $48.00 and gave the company an "overweight" rating in a research report on Friday, June 20th. Truist Financial dropped their price objective on GXO Logistics from $40.00 to $35.00 and set a "hold" rating on the stock in a report on Thursday, April 24th. Deutsche Bank Aktiengesellschaft began coverage on GXO Logistics in a research report on Friday, March 7th. They issued a "hold" rating and a $45.00 price objective for the company. Citigroup decreased their target price on GXO Logistics from $51.00 to $45.00 and set a "buy" rating on the stock in a research report on Tuesday, April 8th. Finally, Stifel Nicolaus lifted their price target on shares of GXO Logistics from $63.00 to $67.00 and gave the company a "buy" rating in a research note on Monday. Five investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $53.86.

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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