Oppenheimer Asset Management Inc. Buys New Stake in GXO Logistics, Inc. $GXO

Oppenheimer Asset Management Inc. bought a new stake in GXO Logistics, Inc. (NYSE:GXO) in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 4,614 shares of the company’s stock, valued at approximately $225,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Larson Financial Group LLC grew its holdings 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 valued at $28,000 after purchasing an additional 689 shares in the last quarter. GAMMA Investing LLC lifted its position in 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. Northwestern Mutual Wealth Management Co. lifted its position in 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. Covestor Ltd lifted its position in 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. Finally, Geneos Wealth Management Inc. lifted its position in GXO Logistics by 4,775.6% in the first quarter. Geneos Wealth Management Inc. now owns 1,999 shares of the company’s stock worth $78,000 after buying an additional 1,958 shares during the last quarter. 90.67% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts recently issued reports on the company. Barclays raised their price target on GXO Logistics from $45.00 to $52.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 10th. Susquehanna raised their price target on GXO Logistics from $58.00 to $60.00 and gave the stock a “positive” rating in a research report on Thursday, August 7th. Weiss Ratings restated a “sell (d+)” rating on shares of GXO Logistics in a research report on Wednesday, October 8th. UBS Group raised their price target on GXO Logistics from $58.00 to $63.00 and gave the stock a “buy” rating in a research report on Friday, October 3rd. Finally, Wells Fargo & Company raised their price target on GXO Logistics from $60.00 to $65.00 and gave the stock an “overweight” rating in a research report on Monday, October 6th. Eleven equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, GXO Logistics has an average rating of “Moderate Buy” and a consensus target price of $61.57.

GXO Logistics Stock Up 4.7%

NYSE:GXO opened at $56.36 on Monday. GXO Logistics, Inc. has a twelve month low of $30.46 and a twelve month high of $62.07. The company has a market cap of $6.45 billion, a price-to-earnings ratio of 106.35, a price-to-earnings-growth ratio of 2.29 and a beta of 1.64. The stock has a fifty day simple moving average of $52.85 and a 200-day simple moving average of $47.93. 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 released 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 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 the consensus estimate of $3.09 billion. During the same period last year, the company earned $0.55 earnings per share. The business’s revenue for the quarter was up 15.9% compared to the same quarter last year. Analysts anticipate that GXO Logistics, Inc. will post 2.49 EPS for the current year.

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.