Zurcher Kantonalbank Zurich Cantonalbank Sells 14,652 Shares of GXO Logistics, Inc. (NYSE:GXO)

Key Points

• Zurcher Kantonalbank Zurich Cantonalbank reduced its holdings in GXO Logistics by 31.9% in the first quarter, now owning 31,323 shares valued at approximately $1.22 million.
• Multiple hedge funds increased their stakes in GXO Logistics, with Principal Financial Group Inc. holding the largest share at 274,832 shares worth $10.74 million.
• Analysts have a generally positive outlook on GXO Logistics, with ten analysts rating it as a buy and an average price target of $57.43 on the stock.

Zurcher Kantonalbank Zurich Cantonalbank reduced its holdings in shares of GXO Logistics, Inc. (NYSE:GXO - Free Report) by 31.9% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 31,323 shares of the company's stock after selling 14,652 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank's holdings in GXO Logistics were worth $1,224,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in GXO. Larson Financial Group LLC raised its holdings 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 acquiring an additional 689 shares during the last quarter. GAMMA Investing LLC increased its stake in shares of GXO Logistics by 57.0% during the first quarter. GAMMA Investing LLC now owns 832 shares of the company's stock worth $33,000 after acquiring an additional 302 shares during the period. Golden State Wealth Management LLC purchased a new position in GXO Logistics in the first quarter valued at about $34,000. Quarry LP grew its position in shares of GXO Logistics by 1,334.9% in the fourth quarter. Quarry LP now owns 1,234 shares of the company's stock valued at $54,000 after purchasing an additional 1,148 shares during the last quarter. Finally, UMB Bank n.a. raised its stake in GXO Logistics by 135.6% in the 1st quarter. UMB Bank n.a. now owns 1,762 shares of the company's stock valued at $69,000 after purchasing an additional 1,014 shares during the last quarter. Institutional investors and hedge funds own 90.67% of the company's stock.

GXO Logistics Trading Up 3.1%

Shares of NYSE:GXO traded up $1.53 during mid-day trading on Wednesday, reaching $50.51. The stock had a trading volume of 3,397,111 shares, compared to its average volume of 929,331. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 0.88. GXO Logistics, Inc. has a twelve month low of $30.46 and a twelve month high of $63.33. The firm has a 50 day simple moving average of $47.57 and a two-hundred day simple moving average of $42.21. The firm has a market cap of $5.78 billion, a PE ratio of 95.30, a price-to-earnings-growth ratio of 1.79 and a beta of 1.64.

GXO Logistics (NYSE:GXO - Get Free Report) last announced its earnings results on Tuesday, August 5th. The company reported $0.57 earnings per share for the quarter, topping analysts' consensus estimates of $0.56 by $0.01. GXO Logistics had a return on equity of 10.41% and a net margin of 0.50%. The company had revenue of $3.30 billion for the quarter, compared to analyst estimates of $3.09 billion. During the same quarter last year, the company earned $0.55 earnings per share. The firm's quarterly revenue was up 15.9% compared to the same quarter last year. On average, research analysts predict that GXO Logistics, Inc. will post 2.49 EPS for the current fiscal year.

Wall Street Analyst Weigh In

GXO has been the subject of several recent research reports. 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 research report on Monday, June 23rd. Citigroup boosted their price target on GXO Logistics from $56.00 to $59.00 and gave the stock a "buy" rating in a research report on Wednesday, July 9th. Susquehanna restated a "positive" rating and issued a $58.00 price objective (up previously from $57.00) on shares of GXO Logistics in a report on Tuesday, June 24th. JPMorgan Chase & Co. upped their target price on GXO Logistics from $52.00 to $56.00 and gave the company an "overweight" rating in a report on Tuesday, July 8th. Finally, Barclays increased their price target on shares of GXO Logistics from $45.00 to $52.00 and gave the stock an "equal weight" rating in a research report on Thursday, July 10th. Four analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $57.43.

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.