GXO Logistics, Inc. (NYSE:GXO) Stake Reduced by Argent Trust Co

Argent Trust Co cut its stake in GXO Logistics, Inc. (NYSE:GXO) by 32.6% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,573 shares of the company’s stock after selling 2,701 shares during the period. Argent Trust Co’s holdings in GXO Logistics were worth $281,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its holdings in shares of GXO Logistics by 0.7% in the 1st quarter. Vanguard Group Inc. now owns 11,228,350 shares of the company’s stock worth $603,636,000 after acquiring an additional 82,485 shares during the period. American Century Companies Inc. grew its position in GXO Logistics by 25.2% in 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. Clearbridge Investments LLC increased its stake in shares of GXO Logistics by 0.5% in the first quarter. Clearbridge Investments LLC now owns 2,956,981 shares of the company’s stock valued at $158,967,000 after purchasing an additional 15,463 shares during the period. Fort Pitt Capital Group LLC raised its holdings in shares of GXO Logistics by 30.4% during the second quarter. Fort Pitt Capital Group LLC now owns 2,416,606 shares of the company’s stock valued at $122,039,000 after buying an additional 563,057 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its position in shares of GXO Logistics by 11.2% during the second quarter. Dimensional Fund Advisors LP now owns 2,398,933 shares of the company’s stock worth $121,140,000 after buying an additional 240,766 shares during the period. 90.67% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

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

GXO Logistics Trading Down 2.5 %

Shares of GXO stock opened at $51.55 on Friday. The stock has a 50-day simple moving average of $50.74 and a 200 day simple moving average of $50.45. The stock has a market capitalization of $6.16 billion, a P/E ratio of 37.08, a P/E/G ratio of 1.46 and a beta of 1.58. GXO Logistics, Inc. has a fifty-two week low of $46.07 and a fifty-two week high of $63.07. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.87.

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