Northern Trust Corp Has $43.73 Million Stock Position in GXO Logistics, Inc. (NYSE:GXO)

Northern Trust Corp raised its stake in GXO Logistics, Inc. (NYSE:GXO - Free Report) by 23.6% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 1,005,232 shares of the company's stock after purchasing an additional 191,648 shares during the quarter. Northern Trust Corp owned 0.84% of GXO Logistics worth $43,728,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in the business. Quarry LP lifted its holdings in shares of GXO Logistics by 1,334.9% during 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 in the last quarter. Melqart Asset Management UK Ltd purchased a new position in GXO Logistics during the 4th quarter valued at approximately $11,659,000. Aquatic Capital Management LLC bought a new stake in shares of GXO Logistics in the 4th quarter valued at approximately $1,975,000. Oxford Asset Management LLP bought a new stake in shares of GXO Logistics in the 4th quarter valued at approximately $337,000. Finally, Nebula Research & Development LLC bought a new stake in shares of GXO Logistics during the 4th quarter worth approximately $221,000. 90.67% of the stock is owned by hedge funds and other institutional investors.

GXO Logistics Price Performance

Shares of NYSE:GXO traded down $0.19 during trading hours on Tuesday, hitting $40.60. 963,576 shares of the company's stock traded hands, compared to its average volume of 1,261,270. The company has a market cap of $4.75 billion, a price-to-earnings ratio of 36.25, a price-to-earnings-growth ratio of 1.34 and a beta of 1.56. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.86 and a current ratio of 0.83. The company's fifty day simple moving average is $37.16 and its two-hundred day simple moving average is $44.48. GXO Logistics, Inc. has a 52 week low of $30.46 and a 52 week high of $63.33.

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

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the company. Deutsche Bank Aktiengesellschaft assumed coverage on GXO Logistics in a report on Friday, March 7th. They issued a "hold" rating and a $45.00 price target on the stock. Morgan Stanley reduced their target price on GXO Logistics from $63.00 to $57.00 and set an "overweight" rating for the company in a report on Friday, February 14th. The Goldman Sachs Group dropped their price target on GXO Logistics from $63.00 to $54.00 and set a "neutral" rating for the company in a research report on Thursday, January 16th. Barclays lowered their price target on GXO Logistics from $52.00 to $45.00 and set an "equal weight" rating for the company in a research report on Thursday, February 13th. Finally, Citigroup reduced their price objective on shares of GXO Logistics from $51.00 to $45.00 and set a "buy" rating on the stock in a report on Tuesday, April 8th. Five equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $54.57.

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.