Arizona State Retirement System Decreases Holdings in GXO Logistics, Inc. (NYSE:GXO)

Arizona State Retirement System decreased its stake in shares of GXO Logistics, Inc. (NYSE:GXO) by 1.1% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 34,273 shares of the company’s stock after selling 398 shares during the quarter. Arizona State Retirement System’s holdings in GXO Logistics were worth $1,339,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Janney Montgomery Scott LLC grew its position in shares of GXO Logistics by 13.7% in the first quarter. Janney Montgomery Scott LLC now owns 17,243 shares of the company’s stock valued at $674,000 after purchasing an additional 2,076 shares during the period. Cambridge Investment Research Advisors Inc. lifted its stake in shares of GXO Logistics by 2.3% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 38,679 shares of the company’s stock worth $1,512,000 after buying an additional 886 shares in the last quarter. KBC Group NV lifted its stake in shares of GXO Logistics by 20.0% in the first quarter. KBC Group NV now owns 5,821 shares of the company’s stock worth $227,000 after buying an additional 969 shares in the last quarter. Principal Financial Group Inc. lifted its stake in shares of GXO Logistics by 0.3% in the first quarter. Principal Financial Group Inc. now owns 274,832 shares of the company’s stock worth $10,740,000 after buying an additional 831 shares in the last quarter. Finally, GAMMA Investing LLC lifted its stake in shares of GXO Logistics by 57.0% in the first quarter. GAMMA Investing LLC now owns 832 shares of the company’s stock worth $33,000 after buying an additional 302 shares in the last quarter. Institutional investors and hedge funds own 90.67% of the company’s stock.

GXO Logistics Price Performance

Shares of GXO opened at $50.40 on Friday. 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 stock’s 50 day moving average is $45.25 and its two-hundred day moving average is $41.68. The firm has a market capitalization of $5.77 billion, a PE ratio of 81.29, a P/E/G ratio of 1.84 and a beta of 1.64. GXO Logistics, Inc. has a twelve month low of $30.46 and a twelve month high of $63.33.

GXO Logistics (NYSE:GXO) last issued its quarterly earnings results on Wednesday, May 7th. The company reported $0.29 EPS for the quarter, topping analysts’ consensus estimates 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 the consensus estimate of $2.94 billion. During the same period in the previous year, the firm posted $0.45 earnings per share. The company’s quarterly revenue was up 21.2% compared to the same quarter last year. Research analysts anticipate that GXO Logistics, Inc. will post 2.49 earnings per share for the current year.

Wall Street Analyst Weigh In

GXO has been the topic of a number of analyst reports. Susquehanna reaffirmed a “positive” rating and set a $58.00 target price (up from $57.00) on shares of GXO Logistics in a research note on Tuesday, June 24th. Stifel Nicolaus lifted their target price on shares of GXO Logistics from $63.00 to $67.00 and gave the stock a “buy” rating in a research note on Monday, June 23rd. Citigroup lifted their target price on shares of GXO Logistics from $56.00 to $59.00 and gave the stock a “buy” rating in a research note on Wednesday, July 9th. Wells Fargo & Company lifted their target price on shares of GXO Logistics from $48.00 to $57.00 and gave the stock an “overweight” rating in a research note on Monday, July 7th. Finally, JPMorgan Chase & Co. boosted their price target on shares of GXO Logistics from $52.00 to $56.00 and gave the company an “overweight” rating in a research note on Tuesday, July 8th. Four research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target 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.