Dorsey & Whitney Trust CO LLC purchased a new position in GXO Logistics, Inc. (NYSE:GXO – Get Rating) in the 2nd quarter, Holdings Channel reports. The institutional investor purchased 6,229 shares of the company’s stock, valued at approximately $270,000.
Several other large investors also recently modified their holdings of GXO. Ellevest Inc. increased its holdings in shares of GXO Logistics by 337.7% in the second quarter. Ellevest Inc. now owns 696 shares of the company’s stock worth $30,000 after acquiring an additional 537 shares in the last quarter. Prospera Financial Services Inc bought a new position in shares of GXO Logistics during the first quarter worth about $31,000. Geneos Wealth Management Inc. bought a new position in shares of GXO Logistics during the first quarter worth about $39,000. Herold Advisors Inc. bought a new position in shares of GXO Logistics during the first quarter worth about $54,000. Finally, ACG Wealth bought a new position in shares of GXO Logistics during the second quarter worth about $69,000. 83.54% of the stock is currently owned by institutional investors.
Analysts Set New Price Targets
GXO has been the subject of a number of research reports. Credit Suisse Group decreased their price objective on GXO Logistics from $56.00 to $48.00 in a report on Tuesday, October 11th. Cowen decreased their price objective on GXO Logistics from $67.00 to $62.00 and set an “outperform” rating for the company in a report on Tuesday, September 27th. Jefferies Financial Group initiated coverage on GXO Logistics in a report on Monday, October 24th. They set a “buy” rating and a $70.00 price objective for the company. Morgan Stanley decreased their price objective on GXO Logistics from $67.00 to $45.00 and set an “equal weight” rating for the company in a report on Monday, October 3rd. Finally, Wells Fargo & Company reduced their price target on GXO Logistics from $78.00 to $70.00 and set an “overweight” rating for the company in a research report on Thursday, November 10th. Two equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $61.31.
GXO Logistics Stock Performance
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, and other supply chain services, as well as reverse logistics or returns management services. As of December 31, 2021, it operated in approximately 906 facilities.
- Get a free copy of the StockNews.com research report on GXO Logistics (GXO)
- Three CBD Stocks to Dominate a Budding Industry
- Salesforce Cuts Labor, Shows Strong Earnings Despite Challenges
- Institutional Support for Analog Devices Remains High
- Is the 60/40 Portfolio Mix Still in Vogue?
- Microsoft Shares: Is it Time to Back Up the Truck?
Receive News & Ratings for GXO Logistics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for GXO Logistics and related companies with MarketBeat.com's FREE daily email newsletter.