Swedbank AB Trims Position in GXO Logistics, Inc. $GXO

Key Points

• Swedbank AB reduced its stake in GXO Logistics by 13.4%, selling 275,000 shares and owning approximately 1.55% of the company worth $69,367,000 as of the last reporting period.
• Institutional investors currently own 90.67% of GXO Logistics, with notable firms like Janney Montgomery Scott LLC and KBC Group NV increasing their holdings in the first quarter.
• Analysts have upgraded GXO Logistics' ratings and price targets, with an average rating of "Moderate Buy" and a consensus price target of $59.50, reflecting positive expectations for the company’s performance.

Swedbank AB lowered its holdings in GXO Logistics, Inc. (NYSE:GXO - Free Report) by 13.4% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,775,000 shares of the company's stock after selling 275,000 shares during the quarter. Swedbank AB owned about 1.55% of GXO Logistics worth $69,367,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Larson Financial Group LLC grew its position in GXO Logistics by 2,460.7% in the 1st quarter. Larson Financial Group LLC now owns 717 shares of the company's stock valued at $28,000 after purchasing an additional 689 shares during the period. GAMMA Investing LLC grew its position in GXO Logistics by 57.0% in the 1st quarter. GAMMA Investing LLC now owns 832 shares of the company's stock valued at $33,000 after purchasing an additional 302 shares during the period. Golden State Wealth Management LLC acquired a new stake in GXO Logistics in the 1st quarter valued at $34,000. Northwestern Mutual Wealth Management Co. grew its position in GXO Logistics by 72.1% in the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 945 shares of the company's stock valued at $37,000 after purchasing an additional 396 shares during the period. Finally, Covestor Ltd grew its position in GXO Logistics by 63.2% in the 1st quarter. Covestor Ltd now owns 1,645 shares of the company's stock valued at $64,000 after purchasing an additional 637 shares during the period. Institutional investors and hedge funds own 90.67% of the company's stock.

GXO Logistics Stock Performance

GXO Logistics stock traded up $0.37 during midday trading on Thursday, reaching $50.85. The stock had a trading volume of 335,784 shares, compared to its average volume of 1,379,619. GXO Logistics, Inc. has a 12 month low of $30.46 and a 12 month high of $63.33. The firm's 50-day moving average price is $51.56 and its 200 day moving average price is $44.21. The firm has a market capitalization of $5.82 billion, a PE ratio of 95.99, a P/E/G ratio of 2.04 and a beta of 1.65. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 0.87.

GXO Logistics (NYSE:GXO - Get Free Report) last announced its quarterly earnings data on Tuesday, August 5th. The company reported $0.57 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.56 by $0.01. GXO Logistics had a return on equity of 10.45% and a net margin of 0.50%.The business had revenue of $3.30 billion for the quarter, compared to analysts' expectations of $3.09 billion. During the same period in the previous year, the business posted $0.55 EPS. The firm's quarterly revenue was up 15.9% compared to the same quarter last year. As a group, research analysts predict that GXO Logistics, Inc. will post 2.49 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

GXO has been the subject of several research reports. 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 report on Monday, June 23rd. Citigroup raised their price objective on GXO Logistics from $56.00 to $59.00 and gave the company a "buy" rating in a research note on Wednesday, July 9th. Oppenheimer raised their price objective on GXO Logistics from $55.00 to $62.00 and gave the company an "outperform" rating in a research note on Thursday, August 7th. Truist Financial upgraded GXO Logistics from a "hold" rating to a "buy" rating and raised their price objective for the company from $48.00 to $62.00 in a research note on Friday, July 11th. Finally, Wells Fargo & Company raised their price objective on GXO Logistics from $57.00 to $60.00 and gave the company an "overweight" rating in a research note on Thursday, August 7th. Ten research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat.com, GXO Logistics has a consensus rating of "Moderate Buy" and a consensus price target of $59.50.

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.