State of Alaska Department of Revenue Reduces Stock Position in GXO Logistics, Inc. $GXO

State of Alaska Department of Revenue lessened its position in shares of GXO Logistics, Inc. (NYSE:GXO) by 8.3% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 12,839 shares of the company’s stock after selling 1,165 shares during the quarter. State of Alaska Department of Revenue’s holdings in GXO Logistics were worth $625,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Larson Financial Group LLC boosted its stake in shares of GXO Logistics by 2,460.7% in the first quarter. Larson Financial Group LLC now owns 717 shares of the company’s stock worth $28,000 after buying an additional 689 shares during the last quarter. GAMMA Investing LLC boosted 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 during the last quarter. Golden State Wealth Management LLC purchased a new stake in shares of GXO Logistics in the first quarter worth about $34,000. Northwestern Mutual Wealth Management Co. boosted its stake in shares of GXO Logistics by 72.1% in the first quarter. Northwestern Mutual Wealth Management Co. now owns 945 shares of the company’s stock worth $37,000 after buying an additional 396 shares during the last quarter. Finally, Covestor Ltd boosted its stake in shares of GXO Logistics by 63.2% in the first quarter. Covestor Ltd now owns 1,645 shares of the company’s stock worth $64,000 after buying an additional 637 shares during the last quarter. Hedge funds and other institutional investors own 90.67% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently commented on GXO shares. JPMorgan Chase & Co. upped their target price on GXO Logistics from $56.00 to $65.00 and gave the stock an “overweight” rating in a research note on Thursday, August 7th. Oppenheimer upped their target price on GXO Logistics from $55.00 to $62.00 and gave the stock an “outperform” rating in a research note on Thursday, August 7th. UBS Group upped their target price on GXO Logistics from $58.00 to $63.00 and gave the stock a “buy” rating in a research note on Friday. Citigroup upped their target price on GXO Logistics from $56.00 to $59.00 and gave the stock a “buy” rating in a research note on Wednesday, July 9th. Finally, Susquehanna upped their target price on GXO Logistics from $58.00 to $60.00 and gave the stock a “positive” rating in a research note on Thursday, August 7th. Eleven analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, GXO Logistics currently has a consensus rating of “Moderate Buy” and an average target price of $61.29.

GXO Logistics Stock Performance

Shares of GXO stock opened at $54.16 on Wednesday. The business’s 50 day moving average is $51.81 and its two-hundred day moving average is $45.55. GXO Logistics, Inc. has a 12-month low of $30.46 and a 12-month high of $63.33. The company has a market capitalization of $6.20 billion, a P/E ratio of 102.19, a P/E/G ratio of 2.22 and a beta of 1.64. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 0.87.

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

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.