US Bancorp DE Cuts Stock Position in GXO Logistics, Inc. (NYSE:GXO)

US Bancorp DE cut its holdings in GXO Logistics, Inc. (NYSE:GXO) by 24.2% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 13,848 shares of the company’s stock after selling 4,422 shares during the quarter. US Bancorp DE’s holdings in GXO Logistics were worth $541,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Janney Montgomery Scott LLC boosted its stake in GXO Logistics by 13.7% during the first quarter. Janney Montgomery Scott LLC now owns 17,243 shares of the company’s stock worth $674,000 after buying an additional 2,076 shares during the period. Cambridge Investment Research Advisors Inc. boosted its stake in GXO Logistics by 2.3% during 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 during the period. KBC Group NV boosted its stake in GXO Logistics by 20.0% during 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 during the period. Principal Financial Group Inc. boosted its stake in GXO Logistics by 0.3% during 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 during the period. Finally, GAMMA Investing LLC boosted its stake in GXO Logistics by 57.0% during the first quarter. GAMMA Investing LLC now owns 832 shares of the company’s stock worth $33,000 after buying an additional 302 shares during the period. 90.67% of the stock is owned by hedge funds and other institutional investors.

GXO Logistics Stock Performance

Shares of GXO Logistics stock opened at $50.13 on Tuesday. The company has a market capitalization of $5.74 billion, a PE ratio of 94.59, a P/E/G ratio of 1.83 and a beta of 1.64. The company has a debt-to-equity ratio of 0.87, a quick ratio of 0.76 and a current ratio of 0.76. The company has a 50-day simple moving average of $48.33 and a two-hundred day simple moving average of $42.35. GXO Logistics, Inc. has a one year low of $30.46 and a one year high of $63.33.

GXO Logistics (NYSE:GXO) last announced its earnings results on Tuesday, August 5th. The company reported $0.57 EPS for the quarter, topping analysts’ consensus estimates of $0.56 by $0.01. The business had revenue of $3.30 billion during the quarter, compared to the consensus estimate of $3.09 billion. GXO Logistics had a net margin of 0.50% and a return on equity of 10.45%. The firm’s revenue was up 15.9% on a year-over-year basis. During the same period in the previous year, the company posted $0.55 earnings per share. Research analysts expect that GXO Logistics, Inc. will post 2.49 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts have commented on the stock. Wells Fargo & Company lifted their price objective on shares of GXO Logistics from $57.00 to $60.00 and gave the stock an “overweight” rating in a research note on Thursday, August 7th. JPMorgan Chase & Co. boosted their target price on shares of GXO Logistics from $56.00 to $65.00 and gave the company an “overweight” rating in a research note on Thursday, August 7th. UBS Group boosted their target price on shares of GXO Logistics from $50.00 to $58.00 and gave the company a “buy” rating in a research note on Thursday, August 7th. Barclays boosted their target price 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. Finally, Susquehanna boosted their target price on shares of GXO Logistics from $58.00 to $60.00 and gave the company a “positive” rating in a research note on Thursday, August 7th. Four investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $59.50.

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.