Raymond James Financial Inc. Has $20.52 Million Stock Holdings in GXO Logistics, Inc. $GXO

Raymond James Financial Inc. increased its position in GXO Logistics, Inc. (NYSE:GXO) by 9.3% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 525,128 shares of the company’s stock after buying an additional 44,557 shares during the period. Raymond James Financial Inc. owned 0.45% of GXO Logistics worth $20,522,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Larson Financial Group LLC grew its stake in shares of GXO Logistics by 2,460.7% in the 1st quarter. Larson Financial Group LLC now owns 717 shares of the company’s stock valued at $28,000 after buying an additional 689 shares during the period. GAMMA Investing LLC grew its stake in shares of GXO Logistics by 57.0% in the 1st quarter. GAMMA Investing LLC now owns 832 shares of the company’s stock valued at $33,000 after buying an additional 302 shares during the period. Golden State Wealth Management LLC acquired a new stake in shares of GXO Logistics in the 1st quarter valued at about $34,000. Quarry LP grew its stake in shares of GXO Logistics by 1,334.9% in the 4th quarter. Quarry LP now owns 1,234 shares of the company’s stock valued at $54,000 after buying an additional 1,148 shares during the period. Finally, Covestor Ltd grew its stake in shares of GXO Logistics by 63.2% in the 1st quarter. Covestor Ltd now owns 1,645 shares of the company’s stock valued at $64,000 after buying an additional 637 shares during the period. 90.67% of the stock is currently owned by institutional investors and hedge funds.

GXO Logistics Price Performance

GXO Logistics stock opened at $53.30 on Wednesday. GXO Logistics, Inc. has a 52 week low of $30.46 and a 52 week high of $63.33. The company’s 50 day moving average price is $50.58 and its two-hundred day moving average price is $42.99. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 0.87. The stock has a market cap of $6.10 billion, a P/E ratio of 100.57, a P/E/G ratio of 1.93 and a beta of 1.64.

GXO Logistics (NYSE:GXO) last posted its earnings results on Tuesday, August 5th. The company reported $0.57 EPS for the quarter, topping the consensus estimate of $0.56 by $0.01. GXO Logistics had a net margin of 0.50% and a return on equity of 10.45%. The firm had revenue of $3.30 billion for the quarter, compared to analysts’ expectations of $3.09 billion. During the same quarter last year, the firm earned $0.55 EPS. The company’s quarterly revenue was up 15.9% compared to the same quarter last year. On average, equities analysts predict that GXO Logistics, Inc. will post 2.49 earnings per share for the current year.

Analysts Set New Price Targets

Several analysts have recently commented on the company. Truist Financial upgraded GXO Logistics from a “hold” rating to a “buy” rating and raised their target price for the company from $48.00 to $62.00 in a research note on Friday, July 11th. Citigroup lifted their price target on GXO Logistics from $56.00 to $59.00 and gave the company a “buy” rating in a research note on Wednesday, July 9th. Barclays lifted their price target on GXO Logistics from $45.00 to $52.00 and gave the company an “equal weight” rating in a research note on Thursday, July 10th. UBS Group lifted their price target on GXO Logistics from $50.00 to $58.00 and gave the company a “buy” rating in a research note on Thursday, August 7th. Finally, JPMorgan Chase & Co. lifted their price target on GXO Logistics from $56.00 to $65.00 and gave the company an “overweight” rating in a research note on Thursday, August 7th. Ten equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $59.50.

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.