Readystate Asset Management LP Invests $3.91 Million in GXO Logistics, Inc. (NYSE:GXO)

Readystate Asset Management LP purchased a new stake in GXO Logistics, Inc. (NYSE:GXO - Free Report) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 100,000 shares of the company's stock, valued at approximately $3,908,000. Readystate Asset Management LP owned about 0.09% of GXO Logistics as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in GXO. Janney Montgomery Scott LLC lifted its stake in GXO Logistics by 13.7% in the first quarter. Janney Montgomery Scott LLC now owns 17,243 shares of the company's stock valued at $674,000 after buying an additional 2,076 shares during the last quarter. Cambridge Investment Research Advisors Inc. lifted its stake in GXO Logistics by 2.3% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 38,679 shares of the company's stock valued at $1,512,000 after buying an additional 886 shares during the last quarter. KBC Group NV lifted its stake in GXO Logistics by 20.0% in the first quarter. KBC Group NV now owns 5,821 shares of the company's stock valued at $227,000 after buying an additional 969 shares during the last quarter. Principal Financial Group Inc. lifted its stake in GXO Logistics by 0.3% in the first quarter. Principal Financial Group Inc. now owns 274,832 shares of the company's stock valued at $10,740,000 after buying an additional 831 shares during the last quarter. Finally, GAMMA Investing LLC lifted its stake 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 buying an additional 302 shares during the last quarter. 90.67% of the stock is currently owned by hedge funds and other institutional investors.

GXO Logistics Stock Performance

Shares of GXO stock traded up $0.80 during trading hours on Friday, reaching $52.57. 669,087 shares of the company's stock were exchanged, compared to its average volume of 1,047,507. The company has a market cap of $6.02 billion, a P/E ratio of 84.79, a price-to-earnings-growth ratio of 1.92 and a beta of 1.64. The company's 50 day moving average is $46.28 and its two-hundred day moving average is $41.92. GXO Logistics, Inc. has a 1 year low of $30.46 and a 1 year high of $63.33. The company has a debt-to-equity ratio of 0.88, a current ratio of 0.78 and a quick ratio of 0.78.

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

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the company. Barclays boosted their price objective on GXO Logistics from $45.00 to $52.00 and gave the company an "equal weight" rating in a research note on Thursday, July 10th. Truist Financial upgraded GXO Logistics from a "hold" rating to a "buy" rating and boosted their price objective for the company from $48.00 to $62.00 in a research note on Friday, July 11th. JPMorgan Chase & Co. boosted their price objective on GXO Logistics from $52.00 to $56.00 and gave the company an "overweight" rating in a research note on Tuesday, July 8th. Susquehanna reiterated a "positive" rating and issued a $58.00 target price (up from $57.00) on shares of GXO Logistics in a research note on Tuesday, June 24th. Finally, Stifel Nicolaus lifted 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. Four equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price 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.