William Blair Investment Management LLC Grows Stake in GXO Logistics, Inc. $GXO

Key Points

• William Blair Investment Management LLC increased its stake in GXO Logistics, Inc. by 52.3%, owning approximately 530,999 shares valued at $25.86 million as of the latest filing.
• Several other institutional investors also raised their stakes in GXO, contributing to a total institutional ownership of 90.67% of the company’s stock.
• Analysts have revised their price targets for GXO Logistics, with a consensus target price of $61.57 and a consensus rating of "Moderate Buy" based on various investment firms' reports.

William Blair Investment Management LLC increased its position in shares of GXO Logistics, Inc. (NYSE:GXO - Free Report) by 52.3% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 530,999 shares of the company's stock after acquiring an additional 182,338 shares during the period. William Blair Investment Management LLC owned approximately 0.46% of GXO Logistics worth $25,860,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Bridges Investment Management Inc. increased its holdings in GXO Logistics by 15.3% during the 2nd quarter. Bridges Investment Management Inc. now owns 17,842 shares of the company's stock worth $869,000 after acquiring an additional 2,370 shares during the period. Envestnet Portfolio Solutions Inc. purchased a new position in GXO Logistics in the 2nd quarter worth approximately $611,000. CWM LLC grew its stake in GXO Logistics by 40.0% in the 2nd quarter. CWM LLC now owns 2,167 shares of the company's stock worth $106,000 after buying an additional 619 shares in the last quarter. Blair William & Co. IL grew its stake in GXO Logistics by 1.1% in the 2nd quarter. Blair William & Co. IL now owns 95,351 shares of the company's stock worth $4,644,000 after buying an additional 1,053 shares in the last quarter. Finally, US Bancorp DE grew its stake in GXO Logistics by 3.4% in the 2nd quarter. US Bancorp DE now owns 14,319 shares of the company's stock worth $697,000 after buying an additional 471 shares in the last quarter. Institutional investors own 90.67% of the company's stock.

Analysts Set New Price Targets

GXO has been the subject of a number of research reports. Wells Fargo & Company upped their price objective on shares of GXO Logistics from $60.00 to $65.00 and gave the company an "overweight" rating in a research note on Monday, October 6th. Susquehanna upped their price objective on shares of GXO Logistics from $58.00 to $60.00 and gave the company a "positive" rating in a research note on Thursday, August 7th. Citigroup upped their price objective on shares of GXO Logistics from $56.00 to $59.00 and gave the company a "buy" rating in a research note on Wednesday, July 9th. Stifel Nicolaus upped their price objective on shares of GXO Logistics from $63.00 to $67.00 and gave the company a "buy" rating in a research note on Monday, June 23rd. Finally, Weiss Ratings reaffirmed a "sell (d+)" rating on shares of GXO Logistics in a research note on Wednesday, October 8th. Eleven investment analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $61.57.

GXO Logistics Trading Up 1.3%

GXO opened at $55.30 on Monday. GXO Logistics, Inc. has a one year low of $30.46 and a one year high of $63.23. The company has a debt-to-equity ratio of 0.87, a current ratio of 0.76 and a quick ratio of 0.76. The business has a 50 day simple moving average of $52.48 and a two-hundred day simple moving average of $46.39. The firm has a market capitalization of $6.33 billion, a price-to-earnings ratio of 104.33, a PEG ratio of 2.25 and a beta of 1.64.

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

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