Pekin Hardy Strauss Inc. Increases Holdings in GXO Logistics, Inc. (NYSE:GXO)

Pekin Hardy Strauss Inc. raised its holdings in GXO Logistics, Inc. (NYSE:GXO - Free Report) by 479.1% during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 162,738 shares of the company's stock after acquiring an additional 134,638 shares during the quarter. Pekin Hardy Strauss Inc. owned approximately 0.14% of GXO Logistics worth $6,360,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently bought and sold shares of the business. GAMMA Investing LLC grew its position in shares of GXO Logistics by 57.0% during the 1st quarter. GAMMA Investing LLC now owns 832 shares of the company's stock worth $33,000 after buying an additional 302 shares in the last quarter. Golden State Wealth Management LLC bought a new position in shares of GXO Logistics during the 1st quarter worth $34,000. Murphy & Mullick Capital Management Corp bought a new position in shares of GXO Logistics during the 4th quarter worth $41,000. Summit Securities Group LLC grew its position in shares of GXO Logistics by 870.9% during the 4th quarter. Summit Securities Group LLC now owns 1,000 shares of the company's stock worth $44,000 after buying an additional 897 shares in the last quarter. Finally, Quarry LP grew its position in shares of GXO Logistics by 1,334.9% during the 4th quarter. Quarry LP now owns 1,234 shares of the company's stock worth $54,000 after buying an additional 1,148 shares in the last quarter. Institutional investors own 90.67% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on GXO shares. Stifel Nicolaus increased their price target on GXO Logistics from $63.00 to $67.00 and gave the stock a "buy" rating in a research report on Monday, June 23rd. JPMorgan Chase & Co. lifted their target price on GXO Logistics from $52.00 to $56.00 and gave the company an "overweight" rating in a research note on Tuesday. Susquehanna reissued a "positive" rating and set a $58.00 price target (up from $57.00) on shares of GXO Logistics in a research report on Tuesday, June 24th. Wells Fargo & Company lifted their price objective on shares of GXO Logistics from $48.00 to $57.00 and gave the stock an "overweight" rating in a research report on Monday. Finally, Truist Financial increased their target price on shares of GXO Logistics from $40.00 to $48.00 and gave the company a "hold" rating in a research report on Monday, June 30th. Five research 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 price target of $54.93.

GXO Logistics Stock Up 0.7%

Shares of GXO stock traded up $0.36 during trading hours on Tuesday, reaching $50.26. 1,169,545 shares of the company's stock were exchanged, compared to its average volume of 1,339,464. GXO Logistics, Inc. has a 1 year low of $30.46 and a 1 year high of $63.33. The stock has a market cap of $5.75 billion, a PE ratio of 18.97, a PEG ratio of 2.30 and a beta of 1.64. 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 stock's fifty day moving average price is $42.79 and its two-hundred day moving average price is $41.14.

GXO Logistics (NYSE:GXO - Get Free Report) last issued its quarterly earnings results on Wednesday, May 7th. The company reported $0.29 earnings per share for the quarter, topping analysts' consensus estimates of $0.26 by $0.03. GXO Logistics had a return on equity of 10.49% and a net margin of 0.61%. The business had revenue of $2.98 billion for the quarter, compared to analyst estimates of $2.94 billion. During the same quarter in the previous year, the firm earned $0.45 earnings per share. The company's revenue was up 21.2% on a year-over-year basis. Research analysts predict that GXO Logistics, Inc. will post 2.49 EPS for the current year.

GXO Logistics 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.