Victory Capital Management Inc. Has $5.82 Million Stake in GXO Logistics, Inc. (NYSE:GXO)

Victory Capital Management Inc. reduced its stake in GXO Logistics, Inc. (NYSE:GXO) by 5.5% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 111,713 shares of the company’s stock after selling 6,510 shares during the period. Victory Capital Management Inc. owned about 0.09% of GXO Logistics worth $5,817,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Meridian Management Co. raised its holdings in GXO Logistics by 2.1% in the 3rd quarter. Meridian Management Co. now owns 52,732 shares of the company’s stock valued at $2,746,000 after buying an additional 1,106 shares during the last quarter. Hara Capital LLC bought a new position in GXO Logistics in the 3rd quarter valued at approximately $50,000. Advisor Resource Council bought a new position in GXO Logistics in the 3rd quarter valued at approximately $276,000. River Road Asset Management LLC raised its holdings in GXO Logistics by 40.4% in the 3rd quarter. River Road Asset Management LLC now owns 1,308,532 shares of the company’s stock valued at $68,135,000 after buying an additional 376,704 shares during the last quarter. Finally, Impax Asset Management Group plc raised its holdings in GXO Logistics by 34.9% in the 3rd quarter. Impax Asset Management Group plc now owns 25,652 shares of the company’s stock valued at $1,336,000 after buying an additional 6,630 shares during the last quarter. 90.67% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the stock. Barclays raised their price target on shares of GXO Logistics from $55.00 to $60.00 and gave the stock an “equal weight” rating in a report on Wednesday, November 13th. Citigroup assumed coverage on shares of GXO Logistics in a report on Wednesday, October 9th. They set a “buy” rating and a $60.00 price target for the company. TD Cowen raised their price target on shares of GXO Logistics from $82.00 to $83.00 and gave the stock a “buy” rating in a report on Wednesday, November 6th. UBS Group raised their price target on shares of GXO Logistics from $66.00 to $72.00 and gave the stock a “buy” rating in a report on Wednesday, November 6th. Finally, Susquehanna lowered their price target on shares of GXO Logistics from $75.00 to $73.00 and set a “positive” rating for the company in a report on Thursday, September 26th. Two analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $67.00.

GXO Logistics Stock Up 0.8 %

GXO opened at $60.47 on Friday. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.81. The stock has a market cap of $7.22 billion, a price-to-earnings ratio of 67.19, a PEG ratio of 1.77 and a beta of 1.55. GXO Logistics, Inc. has a twelve month low of $46.07 and a twelve month high of $63.33. The company’s 50-day moving average price is $57.06 and its two-hundred day moving average price is $52.69.

GXO Logistics (NYSE:GXO) last released its earnings results on Monday, November 4th. The company reported $0.79 earnings per share for the quarter, beating analysts’ consensus estimates 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 company’s quarterly revenue was up 27.8% on a year-over-year basis. During the same period in the previous year, the company earned $0.69 earnings per share. As a group, equities analysts expect that GXO Logistics, Inc. will post 2.77 earnings per share for the current year.

GXO Logistics 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.