GXO Logistics, Inc. (NYSE:GXO) Shares Bought by Oppenheimer Asset Management Inc.

Oppenheimer Asset Management Inc. boosted its position in shares of GXO Logistics, Inc. (NYSE:GXO) by 20.7% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 5,124 shares of the company’s stock after acquiring an additional 880 shares during the period. Oppenheimer Asset Management Inc.’s holdings in GXO Logistics were worth $259,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Swedbank AB acquired a new position in shares of GXO Logistics in the 1st quarter valued at $84,672,000. Norges Bank acquired a new position in shares of GXO Logistics in the 4th quarter valued at $65,002,000. Fort Pitt Capital Group LLC boosted its holdings in shares of GXO Logistics by 60.4% in the 1st quarter. Fort Pitt Capital Group LLC now owns 1,853,549 shares of the company’s stock valued at $99,647,000 after buying an additional 698,180 shares in the last quarter. American Century Companies Inc. boosted its holdings in shares of GXO Logistics by 25.2% in the 2nd quarter. American Century Companies Inc. now owns 3,221,818 shares of the company’s stock valued at $162,702,000 after buying an additional 648,547 shares in the last quarter. Finally, Motley Fool Asset Management LLC boosted its holdings in shares of GXO Logistics by 307.5% in the 1st quarter. Motley Fool Asset Management LLC now owns 648,532 shares of the company’s stock valued at $34,865,000 after buying an additional 489,369 shares in the last quarter. Institutional investors and hedge funds own 90.67% of the company’s stock.

GXO Logistics Stock Down 2.6 %

Shares of GXO Logistics stock opened at $51.51 on Friday. The company has a market cap of $6.15 billion, a P/E ratio of 37.06, a PEG ratio of 1.46 and a beta of 1.58. The company has a debt-to-equity ratio of 0.87, a quick ratio of 0.86 and a current ratio of 0.86. GXO Logistics, Inc. has a one year low of $46.07 and a one year high of $63.07. The firm has a fifty day moving average of $50.72 and a two-hundred day moving average of $50.46.

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

Analysts Set New Price Targets

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

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.