Raymond James Financial Inc. Acquires Shares of 480,571 GXO Logistics, Inc. (NYSE:GXO)

Raymond James Financial Inc. acquired a new stake in shares of GXO Logistics, Inc. (NYSE:GXO) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 480,571 shares of the company’s stock, valued at approximately $20,905,000. Raymond James Financial Inc. owned about 0.40% of GXO Logistics as of its most recent SEC filing.

Several other institutional investors have also bought and sold shares of GXO. R Squared Ltd bought a new position in GXO Logistics during the fourth quarter valued at $54,000. Nomura Asset Management Co. Ltd. lifted its holdings in shares of GXO Logistics by 33.3% in the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 1,160 shares of the company’s stock worth $60,000 after acquiring an additional 290 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. lifted its holdings in shares of GXO Logistics by 213.5% in the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 1,370 shares of the company’s stock worth $60,000 after acquiring an additional 933 shares during the last quarter. Wilmington Savings Fund Society FSB bought a new stake in shares of GXO Logistics in the 3rd quarter worth about $71,000. Finally, Brooklyn Investment Group bought a new stake in shares of GXO Logistics in the 3rd quarter worth about $106,000. Institutional investors own 90.67% of the company’s stock.

Analysts Set New Price Targets

GXO has been the subject of several analyst reports. Truist Financial initiated coverage on shares of GXO Logistics in a report on Thursday. They issued a “hold” rating and a $40.00 target price for the company. Deutsche Bank Aktiengesellschaft initiated coverage on shares of GXO Logistics in a report on Friday, March 7th. They issued a “hold” rating and a $45.00 target price for the company. Wells Fargo & Company lowered their target price on shares of GXO Logistics from $60.00 to $44.00 and set an “overweight” rating for the company in a report on Friday, February 14th. Oppenheimer reduced their price target on shares of GXO Logistics from $67.00 to $55.00 and set an “outperform” rating on the stock in a research note on Tuesday, February 18th. Finally, Stifel Nicolaus reaffirmed a “buy” rating and issued a $66.00 price target (down previously from $74.00) on shares of GXO Logistics in a research note on Friday, February 14th. Six research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat, GXO Logistics has a consensus rating of “Moderate Buy” and an average price target of $55.60.

GXO Logistics Trading Up 2.9 %

NYSE GXO opened at $40.26 on Monday. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.86 and a current ratio of 0.83. The company has a market capitalization of $4.81 billion, a price-to-earnings ratio of 35.94, a price-to-earnings-growth ratio of 1.34 and a beta of 1.62. The company’s 50-day simple moving average is $42.08 and its two-hundred day simple moving average is $49.43. GXO Logistics, Inc. has a one year low of $34.51 and a one year high of $63.33.

GXO Logistics (NYSE:GXO) last posted its earnings results on Wednesday, February 12th. The company reported $1.00 EPS for the quarter, beating analysts’ consensus estimates of $0.94 by $0.06. GXO Logistics had a net margin of 1.14% and a return on equity of 11.16%. Equities analysts forecast that GXO Logistics, Inc. will post 2.49 EPS for the current fiscal year.

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.