Bank of New York Mellon Corp Has $31.81 Million Holdings in GXO Logistics, Inc. (NYSE:GXO)

Bank of New York Mellon Corp reduced its stake in shares of GXO Logistics, Inc. (NYSE:GXO) by 5.5% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 814,070 shares of the company’s stock after selling 46,999 shares during the period. Bank of New York Mellon Corp owned about 0.70% of GXO Logistics worth $31,814,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Vanguard Group Inc. boosted its stake in GXO Logistics by 1.9% during the fourth quarter. Vanguard Group Inc. now owns 11,332,805 shares of the company’s stock worth $492,977,000 after acquiring an additional 212,254 shares in the last quarter. Clearbridge Investments LLC increased its stake in shares of GXO Logistics by 3.8% in the fourth quarter. Clearbridge Investments LLC now owns 4,228,144 shares of the company’s stock worth $183,924,000 after purchasing an additional 153,522 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in shares of GXO Logistics by 1.8% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,798,170 shares of the company’s stock worth $121,718,000 after acquiring an additional 50,682 shares during the last quarter. Kovitz Investment Group Partners LLC lifted its position in GXO Logistics by 28,112.6% during the fourth quarter. Kovitz Investment Group Partners LLC now owns 2,621,515 shares of the company’s stock valued at $114,036,000 after purchasing an additional 2,612,223 shares during the last quarter. Finally, Spruce House Investment Management LLC lifted 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 last quarter. 90.67% of the stock is currently owned by hedge funds and other institutional investors.

GXO Logistics Trading Down 1.2%

Shares of NYSE:GXO opened at $51.50 on Wednesday. GXO Logistics, Inc. has a 12-month low of $30.46 and a 12-month high of $63.33. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 0.88. The company has a market cap of $5.89 billion, a PE ratio of 83.06, a price-to-earnings-growth ratio of 1.90 and a beta of 1.64. The stock has a 50 day moving average of $44.53 and a 200 day moving average of $41.52.

GXO Logistics (NYSE:GXO) last released its quarterly earnings results on Wednesday, May 7th. The company reported $0.29 EPS for the quarter, beating the consensus estimate of $0.26 by $0.03. GXO Logistics had a net margin of 0.61% and a return on equity of 10.49%. The business had revenue of $2.98 billion during the quarter, compared to analyst estimates of $2.94 billion. During the same period in the prior year, the firm posted $0.45 earnings per share. The company’s quarterly revenue was up 21.2% on a year-over-year basis. As a group, equities research analysts expect that GXO Logistics, Inc. will post 2.49 EPS for the current year.

Analyst Ratings Changes

GXO has been the topic of a number of recent analyst reports. Barclays upped their price target on shares of GXO Logistics from $45.00 to $52.00 and gave the company an “equal weight” rating in a research note on Thursday, July 10th. Truist Financial upgraded shares of GXO Logistics from a “hold” rating to a “buy” rating and boosted their price target for the stock from $48.00 to $62.00 in a report on Friday, July 11th. Citigroup raised their price target on GXO Logistics from $56.00 to $59.00 and gave the company a “buy” rating in a report on Wednesday, July 9th. Susquehanna reissued a “positive” rating and issued a $58.00 price objective (up from $57.00) on shares of GXO Logistics in a research note on Tuesday, June 24th. Finally, Wells Fargo & Company lifted their price target on shares of GXO Logistics from $48.00 to $57.00 and gave the company an “overweight” rating in a report on Monday, July 7th. Four equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $57.43.

GXO Logistics 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.