Amundi Trims Stock Position in GXO Logistics, Inc. $GXO

Amundi cut its stake in GXO Logistics, Inc. (NYSE:GXO) by 30.5% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 48,092 shares of the company’s stock after selling 21,095 shares during the period. Amundi’s holdings in GXO Logistics were worth $1,880,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of GXO. Deutsche Bank AG lifted its position in GXO Logistics by 15.7% in the fourth quarter. Deutsche Bank AG now owns 193,074 shares of the company’s stock valued at $8,399,000 after acquiring an additional 26,235 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in GXO Logistics by 5.6% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 30,733 shares of the company’s stock valued at $1,326,000 after purchasing an additional 1,637 shares during the period. Nuveen Asset Management LLC increased its stake in GXO Logistics by 14.2% in the fourth quarter. Nuveen Asset Management LLC now owns 394,250 shares of the company’s stock valued at $17,150,000 after purchasing an additional 48,887 shares during the period. Nomura Holdings Inc. acquired a new position in GXO Logistics in the fourth quarter valued at $717,000. Finally, Quantinno Capital Management LP increased its stake in GXO Logistics by 32.8% in the fourth quarter. Quantinno Capital Management LP now owns 6,901 shares of the company’s stock valued at $300,000 after purchasing an additional 1,704 shares during the period. 90.67% of the stock is owned by hedge funds and other institutional investors.

GXO Logistics Trading Down 0.9%

Shares of GXO opened at $51.08 on Friday. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 0.87. The firm’s 50-day moving average is $51.53 and its two-hundred day moving average is $43.99. GXO Logistics, Inc. has a twelve month low of $30.46 and a twelve month high of $63.33. The firm has a market capitalization of $5.85 billion, a P/E ratio of 96.37, a PEG ratio of 2.07 and a beta of 1.65.

GXO Logistics (NYSE:GXO) last issued its earnings results on Tuesday, August 5th. The company reported $0.57 earnings per share 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 for the quarter, compared to analyst estimates of $3.09 billion. During the same period in the prior year, the business posted $0.55 earnings per share. The firm’s revenue for the quarter was up 15.9% compared to the same quarter last year. On average, research analysts predict that GXO Logistics, Inc. will post 2.49 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research firms have commented on GXO. Oppenheimer lifted their price objective on shares of GXO Logistics from $55.00 to $62.00 and gave the company an “outperform” rating in a research note on Thursday, August 7th. Stifel Nicolaus lifted their price objective on shares of GXO Logistics from $63.00 to $67.00 and gave the company a “buy” rating in a research note on Monday, June 23rd. Citigroup lifted their price objective on shares of 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 objective 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, Truist Financial upgraded shares of GXO Logistics from a “hold” rating to a “buy” rating and lifted their price objective for the company from $48.00 to $62.00 in a research note on Friday, July 11th. Ten research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target 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.