Sterneck Capital Management LLC Has $638,000 Stock Holdings in GXO Logistics, Inc. (NYSE:GXO)

Sterneck Capital Management LLC grew its position in shares of GXO Logistics, Inc. (NYSE:GXO - Free Report) by 143.3% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 16,315 shares of the company's stock after buying an additional 9,608 shares during the period. Sterneck Capital Management LLC's holdings in GXO Logistics were worth $638,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Barclays PLC lifted its holdings in GXO Logistics by 28.9% in the 3rd quarter. Barclays PLC now owns 62,545 shares of the company's stock valued at $3,256,000 after acquiring an additional 14,020 shares during the last quarter. Janney Montgomery Scott LLC grew its stake in GXO Logistics by 14.6% during the 4th quarter. Janney Montgomery Scott LLC now owns 15,167 shares of the company's stock valued at $660,000 after acquiring an additional 1,933 shares in the last quarter. KBC Group NV lifted its position in GXO Logistics by 32.4% in the 4th quarter. KBC Group NV now owns 4,852 shares of the company's stock worth $211,000 after buying an additional 1,187 shares in the last quarter. Pacer Advisors Inc. grew its stake in GXO Logistics by 1.1% in the fourth quarter. Pacer Advisors Inc. now owns 30,815 shares of the company's stock valued at $1,340,000 after purchasing an additional 338 shares in the last quarter. Finally, R Squared Ltd acquired a new position in GXO Logistics in the fourth quarter worth approximately $54,000. Institutional investors and hedge funds own 90.67% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the company. UBS Group reduced their price target on GXO Logistics from $72.00 to $50.00 and set a "buy" rating for the company in a research report on Friday, February 14th. Oppenheimer cut their target price on GXO Logistics from $67.00 to $55.00 and set an "outperform" rating for the company in a research note on Tuesday, February 18th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of GXO Logistics in a research note on Friday, March 7th. They set a "hold" rating and a $45.00 price target for the company. Citigroup dropped their price objective on shares of GXO Logistics from $51.00 to $45.00 and set a "buy" rating for the company in a report on Tuesday, April 8th. Finally, Truist Financial decreased their price target on shares of GXO Logistics from $40.00 to $35.00 and set a "hold" rating on the stock in a research note on Thursday, April 24th. Five analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $54.57.

GXO Logistics Stock Up 1.5%

Shares of GXO Logistics stock traded up $0.62 on Tuesday, hitting $41.18. The company had a trading volume of 867,973 shares, compared to its average volume of 1,277,463. The firm has a market capitalization of $4.71 billion, a P/E ratio of 36.77, a P/E/G ratio of 1.34 and a beta of 1.56. GXO Logistics, Inc. has a twelve month low of $30.46 and a twelve month high of $63.33. The stock has a 50-day moving average of $37.56 and a 200-day moving average of $42.49. The company has a debt-to-equity ratio of 0.83, a current ratio of 0.83 and a quick ratio of 0.86.

GXO Logistics (NYSE:GXO - Get Free Report) last released its earnings results on Wednesday, May 7th. The company reported $0.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.26 by $0.03. GXO Logistics had a return on equity of 11.16% and a net margin of 1.14%. 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 prior year, the company posted $0.45 earnings per share. GXO Logistics's revenue was up 21.2% on a year-over-year basis. Research analysts predict that GXO Logistics, Inc. will post 2.49 earnings per share for the current year.

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.