Zions Bancorporation National Association UT Makes New $1.55 Million Investment in GXO Logistics, Inc. (NYSE:GXO)

Key Points

• Zions Bancorporation has acquired a new position in GXO Logistics, purchasing 39,542 shares valued at approximately $1,545,000 in the first quarter.
• Institutions hold 90.67% of GXO Logistics stock, with significant increases in holdings from firms like LPL Financial, Franklin Resources, and Bank of Montreal.
• Analysts have raised their price targets for GXO Logistics, with an average target of $59.50, indicating a strong outlook for the company's stock performance.

Zions Bancorporation National Association UT acquired a new stake in shares of GXO Logistics, Inc. (NYSE:GXO - Free Report) during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 39,542 shares of the company's stock, valued at approximately $1,545,000.

A number of other large investors have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its position in shares of GXO Logistics by 0.3% in the 1st quarter. Vanguard Group Inc. now owns 11,370,657 shares of the company's stock worth $444,365,000 after buying an additional 37,852 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in shares of GXO Logistics by 1.8% in the 4th quarter. Dimensional Fund Advisors LP now owns 2,798,170 shares of the company's stock worth $121,718,000 after buying an additional 50,682 shares during the last quarter. Kovitz Investment Group Partners LLC lifted its position in shares of GXO Logistics by 28,112.6% in the 4th quarter. Kovitz Investment Group Partners LLC now owns 2,621,515 shares of the company's stock worth $114,036,000 after buying an additional 2,612,223 shares during the last quarter. Spruce House Investment Management LLC increased its holdings in shares of GXO Logistics by 133.3% in the 4th quarter. Spruce House Investment Management LLC now owns 2,100,000 shares of the company's stock worth $91,350,000 after acquiring an additional 1,200,000 shares during the period. Finally, Vaughan Nelson Investment Management L.P. increased its holdings in shares of GXO Logistics by 66.2% in the 1st quarter. Vaughan Nelson Investment Management L.P. now owns 1,819,395 shares of the company's stock worth $71,102,000 after acquiring an additional 724,535 shares during the period. 90.67% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

GXO has been the topic of a number of analyst reports. Susquehanna increased their price objective on shares of GXO Logistics from $58.00 to $60.00 and gave the stock a "positive" rating in a report on Thursday, August 7th. Stifel Nicolaus increased their price objective on shares of GXO Logistics from $63.00 to $67.00 and gave the stock a "buy" rating in a report on Monday, June 23rd. Truist Financial raised shares of GXO Logistics from a "hold" rating to a "buy" rating and increased their price objective for the stock from $48.00 to $62.00 in a report on Friday, July 11th. Citigroup increased their price objective on shares of GXO Logistics from $56.00 to $59.00 and gave the stock a "buy" rating in a report on Wednesday, July 9th. Finally, Oppenheimer increased their price objective on shares of GXO Logistics from $55.00 to $62.00 and gave the stock an "outperform" rating in a report on Thursday, August 7th. Four equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $59.50.

GXO Logistics Price Performance

Shares of GXO traded down $0.11 during mid-day trading on Thursday, hitting $53.69. The company's stock had a trading volume of 1,209,874 shares, compared to its average volume of 1,156,528. The firm has a 50-day moving average price of $49.00 and a 200 day moving average price of $42.55. The stock has a market capitalization of $6.15 billion, a price-to-earnings ratio of 101.30, a PEG ratio of 1.95 and a beta of 1.64. The company has a debt-to-equity ratio of 0.87, a current ratio of 0.76 and a quick ratio of 0.76. GXO Logistics, Inc. has a fifty-two week low of $30.46 and a fifty-two week high of $63.33.

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, topping the consensus estimate of $0.56 by $0.01. The company had revenue of $3.30 billion for the quarter, compared to analysts' expectations of $3.09 billion. GXO Logistics had a net margin of 0.50% and a return on equity of 10.45%. The business's revenue was up 15.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.55 EPS. On average, research analysts predict 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.