US Bancorp DE Increases Stock Position in GXO Logistics, Inc. $GXO

US Bancorp DE boosted its stake in GXO Logistics, Inc. (NYSE:GXO) by 3.4% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 14,319 shares of the company’s stock after purchasing an additional 471 shares during the quarter. US Bancorp DE’s holdings in GXO Logistics were worth $697,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of the stock. Janney Montgomery Scott LLC increased its holdings in shares of GXO Logistics by 13.7% in the 1st 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 last quarter. Principal Financial Group Inc. increased its holdings in shares of GXO Logistics by 0.3% in the 1st 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 last quarter. KBC Group NV increased its holdings in shares of GXO Logistics by 20.0% in the 1st 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 last quarter. Cambridge Investment Research Advisors Inc. grew its holdings in GXO Logistics by 2.3% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 38,679 shares of the company’s stock valued at $1,512,000 after purchasing an additional 886 shares during the last quarter. Finally, GAMMA Investing LLC grew its holdings in GXO Logistics by 57.0% during the 1st quarter. GAMMA Investing LLC now owns 832 shares of the company’s stock valued at $33,000 after purchasing an additional 302 shares during the last quarter. Hedge funds and other institutional investors own 90.67% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently commented on GXO shares. Stifel Nicolaus upped their price target on shares of GXO Logistics from $63.00 to $67.00 and gave the company a “buy” rating in a report on Monday, June 23rd. Susquehanna lifted their price objective on shares of GXO Logistics from $58.00 to $60.00 and gave the company a “positive” rating in a report on Thursday, August 7th. The Goldman Sachs Group raised shares of GXO Logistics from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $52.00 to $68.00 in a report on Wednesday, September 24th. Weiss Ratings reissued a “sell (d+)” rating on shares of GXO Logistics in a report on Wednesday, October 8th. Finally, Truist Financial set a $65.00 target price on shares of GXO Logistics in a research report on Tuesday. Eleven analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $61.57.

GXO Logistics Trading Up 1.3%

NYSE GXO opened at $55.30 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 company has a fifty day simple moving average of $52.48 and a two-hundred day simple moving average of $46.32. GXO Logistics, Inc. has a 12-month low of $30.46 and a 12-month high of $63.23. The stock has a market cap of $6.33 billion, a P/E ratio of 104.33, a P/E/G ratio of 2.25 and a beta of 1.64.

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