KBC Group NV Purchases 969 Shares of GXO Logistics, Inc. (NYSE:GXO)

KBC Group NV lifted its position in shares of GXO Logistics, Inc. (NYSE:GXO) by 20.0% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 5,821 shares of the company’s stock after buying an additional 969 shares during the quarter. KBC Group NV’s holdings in GXO Logistics were worth $227,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in GXO. GAMMA Investing LLC boosted its position in GXO Logistics by 57.0% during the first quarter. GAMMA Investing LLC now owns 832 shares of the company’s stock valued at $33,000 after purchasing an additional 302 shares in the last quarter. Golden State Wealth Management LLC bought a new stake in GXO Logistics during the first quarter valued at about $34,000. Murphy & Mullick Capital Management Corp bought a new stake in GXO Logistics during the fourth quarter valued at about $41,000. Summit Securities Group LLC boosted its position in GXO Logistics by 870.9% during the fourth quarter. Summit Securities Group LLC now owns 1,000 shares of the company’s stock valued at $44,000 after purchasing an additional 897 shares in the last quarter. Finally, Quarry LP boosted its position in 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. Institutional investors own 90.67% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently weighed in on GXO. Truist Financial raised their price objective on GXO Logistics from $40.00 to $48.00 and gave the company a “hold” rating in a research report on Monday, June 30th. Citigroup dropped their price objective on GXO Logistics from $51.00 to $45.00 and set a “buy” rating on the stock in a research report on Tuesday, April 8th. Stifel Nicolaus raised their price objective on GXO Logistics from $63.00 to $67.00 and gave the company a “buy” rating in a research report on Monday, June 23rd. Susquehanna reaffirmed a “positive” rating and set a $58.00 price objective (up previously from $57.00) on shares of GXO Logistics in a research report on Tuesday, June 24th. Finally, Wells Fargo & Company increased their price target on GXO Logistics from $44.00 to $48.00 and gave the company an “overweight” rating in a research note on Friday, June 20th. Five equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $54.79.

GXO Logistics Trading Up 1.0%

Shares of NYSE:GXO opened at $51.05 on Monday. GXO Logistics, Inc. has a 52-week low of $30.46 and a 52-week high of $63.33. The stock has a market cap of $5.84 billion, a price-to-earnings ratio of 82.34, a PEG ratio of 2.36 and a beta of 1.64. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 0.88. The business has a 50-day moving average price of $42.51 and a 200-day moving average price of $41.08.

GXO Logistics (NYSE:GXO) last announced its quarterly earnings data on Wednesday, May 7th. The company reported $0.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.26 by $0.03. GXO Logistics had a return on equity of 10.49% and a net margin of 0.61%. The firm had revenue of $2.98 billion during the quarter, compared to analysts’ expectations of $2.94 billion. During the same period last year, the business posted $0.45 earnings per share. The company’s revenue for the quarter was up 21.2% compared to the same quarter last year. Equities analysts predict that GXO Logistics, Inc. will post 2.49 EPS for the current year.

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.