Hsbc Holdings PLC Has $490,000 Stock Holdings in GXO Logistics, Inc. $GXO

Hsbc Holdings PLC lowered its position in shares of GXO Logistics, Inc. (NYSE:GXO) by 46.7% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 12,527 shares of the company’s stock after selling 10,959 shares during the quarter. Hsbc Holdings PLC’s holdings in GXO Logistics were worth $490,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Larson Financial Group LLC increased its position in shares of GXO Logistics by 2,460.7% during the 1st quarter. Larson Financial Group LLC now owns 717 shares of the company’s stock worth $28,000 after purchasing an additional 689 shares in the last quarter. GAMMA Investing LLC increased its position in shares of GXO Logistics by 57.0% during the 1st quarter. GAMMA Investing LLC now owns 832 shares of the company’s stock worth $33,000 after purchasing an additional 302 shares in the last quarter. Golden State Wealth Management LLC acquired a new stake in shares of GXO Logistics during the 1st quarter worth about $34,000. Covestor Ltd increased its position in shares of GXO Logistics by 63.2% during the 1st quarter. Covestor Ltd now owns 1,645 shares of the company’s stock worth $64,000 after purchasing an additional 637 shares in the last quarter. Finally, UMB Bank n.a. increased its position in shares of GXO Logistics by 135.6% during the 1st quarter. UMB Bank n.a. now owns 1,762 shares of the company’s stock worth $69,000 after purchasing an additional 1,014 shares in the last quarter. Institutional investors and hedge funds own 90.67% of the company’s stock.

Analyst Ratings Changes

GXO has been the subject of a number of recent analyst reports. UBS Group increased their target price on shares of GXO Logistics from $50.00 to $58.00 and gave the stock a “buy” rating in a research report on Thursday, August 7th. JPMorgan Chase & Co. raised their price objective on shares of GXO Logistics from $56.00 to $65.00 and gave the company an “overweight” rating in a research report on Thursday, August 7th. Susquehanna raised their price objective on shares of GXO Logistics from $58.00 to $60.00 and gave the company a “positive” rating in a research report on Thursday, August 7th. Wells Fargo & Company raised their price objective on shares of GXO Logistics from $57.00 to $60.00 and gave the company an “overweight” rating in a research report on Thursday, August 7th. Finally, Truist Financial upgraded shares of GXO Logistics from a “hold” rating to a “buy” rating and raised their price objective for the company from $48.00 to $62.00 in a research report on Friday, July 11th. Ten equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $59.50.

GXO Logistics Stock Down 0.5%

Shares of NYSE:GXO opened at $52.67 on Tuesday. GXO Logistics, Inc. has a one year low of $30.46 and a one year high of $63.33. The company has a 50 day moving average of $51.16 and a 200-day moving average of $43.34. The company has a debt-to-equity ratio of 0.87, a current ratio of 0.76 and a quick ratio of 0.76. The stock has a market cap of $6.03 billion, a price-to-earnings ratio of 99.38, a P/E/G ratio of 2.11 and a beta of 1.65.

GXO Logistics (NYSE:GXO) last issued its quarterly 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 company had revenue of $3.30 billion during the quarter, compared to analysts’ expectations of $3.09 billion. During the same quarter in the previous year, the company earned $0.55 EPS. GXO Logistics’s revenue was up 15.9% on a year-over-year basis. On average, sell-side analysts forecast that GXO Logistics, Inc. will post 2.49 earnings per share for the current year.

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.