Tritonpoint Wealth LLC Trims Stake in GXO Logistics, Inc. (NYSE:GXO)

Tritonpoint Wealth LLC reduced its holdings in shares of GXO Logistics, Inc. (NYSE:GXO - Free Report) by 28.6% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 53,820 shares of the company's stock after selling 21,561 shares during the period. Tritonpoint Wealth LLC's holdings in GXO Logistics were worth $2,103,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the business. Arizona State Retirement System grew its holdings in GXO Logistics by 0.8% during the 4th quarter. Arizona State Retirement System now owns 34,671 shares of the company's stock worth $1,508,000 after acquiring an additional 281 shares during the period. GAMMA Investing LLC grew its stake in shares of 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 buying an additional 302 shares during the period. Treasurer of the State of North Carolina grew its stake in shares of GXO Logistics by 0.6% in the 4th quarter. Treasurer of the State of North Carolina now owns 51,616 shares of the company's stock valued at $2,245,000 after buying an additional 330 shares during the period. Whittier Trust Co. of Nevada Inc. grew its stake in shares of GXO Logistics by 33.7% in the 4th quarter. Whittier Trust Co. of Nevada Inc. now owns 1,380 shares of the company's stock valued at $60,000 after buying an additional 348 shares during the period. Finally, Belpointe Asset Management LLC grew its stake in shares of GXO Logistics by 8.9% in the 4th quarter. Belpointe Asset Management LLC now owns 5,728 shares of the company's stock valued at $249,000 after buying an additional 470 shares during the period. 90.67% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts have recently commented on the company. Oppenheimer reduced 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. Truist Financial cut their price target on GXO Logistics from $40.00 to $35.00 and set a "hold" rating for the company in a research note on Thursday, April 24th. Citigroup cut their price target on GXO Logistics from $51.00 to $45.00 and set a "buy" rating for the company in a research note on Tuesday, April 8th. Finally, Deutsche Bank Aktiengesellschaft started coverage on GXO Logistics in a research note on Friday, March 7th. They set a "hold" rating and a $45.00 price target for the company. Five investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, GXO Logistics presently has a consensus rating of "Moderate Buy" and a consensus price target of $54.57.

GXO Logistics Stock Performance

Shares of NYSE:GXO traded up $0.31 during mid-day trading on Monday, reaching $43.27. The company had a trading volume of 1,159,079 shares, compared to its average volume of 1,284,733. The company has a current ratio of 0.83, a quick ratio of 0.86 and a debt-to-equity ratio of 0.83. The firm has a market cap of $4.95 billion, a price-to-earnings ratio of 38.63, a PEG ratio of 1.34 and a beta of 1.59. The company's 50-day moving average price is $38.80 and its 200-day moving average price is $41.28. GXO Logistics, Inc. has a one year low of $30.46 and a one year high of $63.33.

GXO Logistics (NYSE:GXO - Get Free Report) last released its quarterly earnings data on Wednesday, May 7th. The company reported $0.29 earnings per share for the quarter, beating analysts' consensus estimates of $0.26 by $0.03. GXO Logistics had a net margin of 1.14% and a return on equity of 11.16%. The business had revenue of $2.98 billion during the quarter, compared to analyst estimates of $2.94 billion. During the same period in the previous year, the business earned $0.45 EPS. GXO Logistics's revenue was up 21.2% compared to the same quarter last year. As a group, equities research analysts anticipate that GXO Logistics, Inc. will post 2.49 EPS for the current fiscal year.

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.