JPMorgan Chase & Co. Sells 141,497 Shares of GXO Logistics, Inc. (NYSE:GXO)

JPMorgan Chase & Co. lessened its holdings in GXO Logistics, Inc. (NYSE:GXO) by 22.2% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 495,119 shares of the company’s stock after selling 141,497 shares during the quarter. JPMorgan Chase & Co. owned 0.41% of GXO Logistics worth $25,781,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently made changes to their positions in the company. State Street Corp grew its position in GXO Logistics by 1.9% during the third quarter. State Street Corp now owns 3,631,328 shares of the company’s stock valued at $189,083,000 after buying an additional 66,232 shares during the period. American Century Companies Inc. increased its stake in shares of GXO Logistics by 25.2% during the 2nd quarter. American Century Companies Inc. now owns 3,221,818 shares of the company’s stock worth $162,702,000 after purchasing an additional 648,547 shares during the last quarter. Fort Pitt Capital Group LLC raised its holdings in shares of GXO Logistics by 2.1% in the 3rd quarter. Fort Pitt Capital Group LLC now owns 2,467,814 shares of the company’s stock worth $128,499,000 after purchasing an additional 51,208 shares during the period. Dimensional Fund Advisors LP lifted its stake in GXO Logistics by 11.2% in the second quarter. Dimensional Fund Advisors LP now owns 2,398,933 shares of the company’s stock valued at $121,140,000 after purchasing an additional 240,766 shares during the last quarter. Finally, Geode Capital Management LLC increased its position in GXO Logistics by 1.5% in the third quarter. Geode Capital Management LLC now owns 1,982,920 shares of the company’s stock worth $103,279,000 after buying an additional 29,992 shares during the last quarter. 90.67% of the stock is owned by hedge funds and other institutional investors.

GXO Logistics Stock Up 1.8 %

GXO stock opened at $45.53 on Wednesday. GXO Logistics, Inc. has a 1-year low of $41.38 and a 1-year high of $63.33. The stock has a market cap of $5.44 billion, a price-to-earnings ratio of 50.59, a price-to-earnings-growth ratio of 1.47 and a beta of 1.60. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.81. The company’s 50 day moving average is $52.74 and its 200 day moving average is $52.37.

GXO Logistics (NYSE:GXO) last posted its quarterly earnings data on Monday, November 4th. The company reported $0.79 earnings per share for the quarter, beating the consensus estimate of $0.78 by $0.01. The firm had revenue of $3.16 billion for the quarter, compared to analysts’ expectations of $3.01 billion. GXO Logistics had a net margin of 0.97% and a return on equity of 10.03%. The business’s quarterly revenue was up 27.8% on a year-over-year basis. During the same quarter last year, the company posted $0.69 EPS. Sell-side analysts predict that GXO Logistics, Inc. will post 2.76 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on GXO shares. Citigroup initiated coverage on GXO Logistics in a research note on Wednesday, October 9th. They set a “buy” rating and a $60.00 price target for the company. UBS Group boosted their price target on shares of GXO Logistics from $66.00 to $72.00 and gave the company a “buy” rating in a research report on Wednesday, November 6th. Barclays reduced their price objective on shares of GXO Logistics from $60.00 to $52.00 and set an “equal weight” rating for the company in a research note on Wednesday, December 4th. Oppenheimer raised their price target on GXO Logistics from $63.00 to $67.00 and gave the stock an “outperform” rating in a report on Wednesday, November 27th. Finally, TD Cowen lifted their price target on GXO Logistics from $82.00 to $83.00 and gave the company a “buy” rating in a research report on Wednesday, November 6th. Two equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $66.33.

GXO Logistics Company 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.