GXO Logistics, Inc. (NYSE:GXO) Shares Sold by Pacer Advisors Inc.

Key Points

• Pacer Advisors Inc. reduced its stake in GXO Logistics, Inc. by 64.2% during the first quarter, holding 11,031 shares valued at $431,000 after selling 19,784 shares.
• Several hedge funds significantly increased their stakes in GXO Logistics, with Larson Financial Group raising theirs by over 2,460.7%, indicating strong institutional interest in the company.
• GXO Logistics reported a 21.2% revenue increase year-over-year, with earnings per share beating estimates at $0.29 compared to an expectation of $0.26.

Pacer Advisors Inc. cut its stake in shares of GXO Logistics, Inc. (NYSE:GXO - Free Report) by 64.2% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 11,031 shares of the company's stock after selling 19,784 shares during the quarter. Pacer Advisors Inc.'s holdings in GXO Logistics were worth $431,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Larson Financial Group LLC lifted its holdings in GXO Logistics by 2,460.7% in the first quarter. Larson Financial Group LLC now owns 717 shares of the company's stock valued at $28,000 after acquiring an additional 689 shares during the period. GAMMA Investing LLC lifted its holdings in GXO Logistics by 57.0% in the first quarter. GAMMA Investing LLC now owns 832 shares of the company's stock valued at $33,000 after acquiring an additional 302 shares during the period. Golden State Wealth Management LLC acquired a new stake in GXO Logistics in the first quarter valued at $34,000. Quarry LP lifted its holdings in GXO Logistics by 1,334.9% in the fourth quarter. Quarry LP now owns 1,234 shares of the company's stock valued at $54,000 after acquiring an additional 1,148 shares during the period. Finally, UMB Bank n.a. lifted its holdings in GXO Logistics by 135.6% in the first quarter. UMB Bank n.a. now owns 1,762 shares of the company's stock valued at $69,000 after acquiring an additional 1,014 shares during the period. Institutional investors and hedge funds own 90.67% of the company's stock.

GXO Logistics Trading Up 1.7%

GXO traded up $0.84 during midday trading on Wednesday, hitting $49.82. The company's stock had a trading volume of 2,319,590 shares, compared to its average volume of 1,454,509. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 0.88. The firm has a market cap of $5.70 billion, a P/E ratio of 80.47, a PEG ratio of 1.77 and a beta of 1.64. The firm has a 50-day moving average price of $47.57 and a two-hundred day moving average price of $42.21. 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 quarterly earnings results on Tuesday, August 5th. The company reported $0.57 EPS for the quarter, beating the consensus estimate of $0.56 by $0.01. The company had revenue of $3.30 billion during the quarter, compared to analysts' expectations of $3.09 billion. GXO Logistics had a return on equity of 10.49% and a net margin of 0.61%. The firm's revenue was up 15.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.55 EPS. On average, research analysts anticipate that GXO Logistics, Inc. will post 2.49 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research firms have commented on GXO. Stifel Nicolaus raised their target price on GXO Logistics from $63.00 to $67.00 and gave the company a "buy" rating in a report on Monday, June 23rd. Citigroup lifted their price target on GXO Logistics from $56.00 to $59.00 and gave the stock a "buy" rating in a research note on Wednesday, July 9th. Truist Financial raised GXO Logistics from a "hold" rating to a "buy" rating and lifted their price target for the stock from $48.00 to $62.00 in a research note on Friday, July 11th. JPMorgan Chase & Co. lifted their price target on GXO Logistics from $52.00 to $56.00 and gave the stock an "overweight" rating in a research note on Tuesday, July 8th. Finally, Barclays lifted their price target on GXO Logistics from $45.00 to $52.00 and gave the stock an "equal weight" rating in a research note on Thursday, July 10th. Four investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company 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.