First Eagle Investment Management LLC Has $13.27 Million Position in GXO Logistics, Inc. (NYSE:GXO)

First Eagle Investment Management LLC boosted its stake in shares of GXO Logistics, Inc. (NYSE:GXO) by 13.0% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 262,750 shares of the company’s stock after acquiring an additional 30,166 shares during the period. First Eagle Investment Management LLC owned 0.22% of GXO Logistics worth $13,269,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Mather Group LLC. increased its position in shares of GXO Logistics by 170.7% in the second quarter. Mather Group LLC. now owns 1,110 shares of the company’s stock worth $60,000 after purchasing an additional 700 shares during the period. Allspring Global Investments Holdings LLC raised its position in shares of GXO Logistics by 920.8% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 1,276 shares of the company’s stock valued at $64,000 after buying an additional 1,151 shares in the last quarter. Motco lifted its holdings in shares of GXO Logistics by 2,836.4% during the 1st quarter. Motco now owns 1,292 shares of the company’s stock worth $69,000 after acquiring an additional 1,248 shares during the period. Smithfield Trust Co lifted its holdings in shares of GXO Logistics by 16.5% during the 1st quarter. Smithfield Trust Co now owns 1,378 shares of the company’s stock worth $73,000 after acquiring an additional 195 shares during the period. Finally, LRI Investments LLC acquired a new stake in shares of GXO Logistics during the 1st quarter worth approximately $80,000. 90.67% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts have commented on the stock. JPMorgan Chase & Co. boosted their price objective on shares of GXO Logistics from $61.00 to $63.00 and gave the company an “overweight” rating in a research report on Tuesday, July 9th. Wells Fargo & Company began coverage on GXO Logistics in a research report on Friday, June 7th. They set an “overweight” rating and a $58.00 price objective for the company. Finally, UBS Group decreased their target price on GXO Logistics from $71.00 to $66.00 and set a “buy” rating on the stock in a research report on Wednesday, August 7th. One analyst has rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $67.45.

GXO Logistics Stock Up 2.1 %

NYSE:GXO opened at $52.87 on Friday. GXO Logistics, Inc. has a one year low of $46.07 and a one year high of $63.07. The company has a debt-to-equity ratio of 0.87, a current ratio of 0.86 and a quick ratio of 0.86. The company has a market cap of $6.31 billion, a PE ratio of 38.04, a P/E/G ratio of 1.46 and a beta of 1.58. The firm’s 50 day simple moving average is $50.72 and its 200 day simple moving average is $50.43.

GXO Logistics (NYSE:GXO) last issued its quarterly earnings results on Tuesday, August 6th. The company reported $0.55 EPS for the quarter, missing analysts’ consensus estimates of $0.57 by ($0.02). The business had revenue of $2.85 billion for the quarter, compared to analyst estimates of $2.73 billion. GXO Logistics had a return on equity of 9.86% and a net margin of 1.35%. GXO Logistics’s revenue for the quarter was up 18.9% on a year-over-year basis. During the same quarter last year, the firm posted $0.70 EPS. On average, research analysts anticipate that GXO Logistics, Inc. will post 2.79 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.