GXO Logistics, Inc. (NYSE:GXO) Stake Lessened by Ionic Capital Management LLC

Ionic Capital Management LLC lessened its stake in GXO Logistics, Inc. (NYSE:GXO - Free Report) by 22.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 98,267 shares of the company's stock after selling 27,835 shares during the period. GXO Logistics makes up about 0.4% of Ionic Capital Management LLC's holdings, making the stock its 9th biggest holding. Ionic Capital Management LLC owned 0.08% of GXO Logistics worth $4,275,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. Barclays PLC increased its position in shares of GXO Logistics by 28.9% during the 3rd quarter. Barclays PLC now owns 62,545 shares of the company's stock valued at $3,256,000 after purchasing an additional 14,020 shares during the last quarter. Tidal Investments LLC purchased a new stake in GXO Logistics in the third quarter worth approximately $667,000. Harbor Capital Advisors Inc. grew its position in GXO Logistics by 2.5% during the fourth quarter. Harbor Capital Advisors Inc. now owns 48,937 shares of the company's stock valued at $2,129,000 after acquiring an additional 1,172 shares during the last quarter. FNY Investment Advisers LLC purchased a new position in shares of GXO Logistics during the fourth quarter worth approximately $182,000. Finally, Thurston Springer Miller Herd & Titak Inc. raised its stake in shares of GXO Logistics by 213.5% during the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 1,370 shares of the company's stock worth $60,000 after acquiring an additional 933 shares in the last quarter. Institutional investors own 90.67% of the company's stock.

GXO Logistics Trading Up 2.3%

GXO traded up $0.97 during midday trading on Friday, reaching $42.27. 1,414,180 shares of the company's stock traded hands, compared to its average volume of 1,268,963. GXO Logistics, Inc. has a 52 week low of $30.46 and a 52 week high of $63.33. The company has a debt-to-equity ratio of 0.83, a current ratio of 0.83 and a quick ratio of 0.86. The firm has a fifty day moving average of $37.33 and a two-hundred day moving average of $44.30. The stock has a market capitalization of $4.84 billion, a price-to-earnings ratio of 37.74, a P/E/G ratio of 1.34 and a beta of 1.56.

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

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on GXO. Wells Fargo & Company cut their price objective on shares of GXO Logistics from $60.00 to $44.00 and set an "overweight" rating for the company in a research note on Friday, February 14th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of GXO Logistics in a research report on Friday, March 7th. They set a "hold" rating and a $45.00 price target for the company. Oppenheimer decreased their price objective on GXO Logistics from $67.00 to $55.00 and set an "outperform" rating on the stock in a report on Tuesday, February 18th. Morgan Stanley lowered their target price on GXO Logistics from $63.00 to $57.00 and set an "overweight" rating for the company in a research note on Friday, February 14th. Finally, UBS Group reduced their price target on GXO Logistics from $72.00 to $50.00 and set a "buy" rating on the stock in a research report on Friday, February 14th. Five analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $54.57.

About GXO Logistics

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.