GXO Logistics, Inc. (NYSE:GXO) Shares Sold by Oppenheimer & Co. Inc.

Oppenheimer & Co. Inc. decreased its position in GXO Logistics, Inc. (NYSE:GXO) by 9.0% during the 3rd quarter, Holdings Channel reports. The firm owned 71,033 shares of the company’s stock after selling 6,998 shares during the quarter. Oppenheimer & Co. Inc.’s holdings in GXO Logistics were worth $3,699,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Vanguard Group Inc. grew its stake in GXO Logistics by 0.7% in the 1st quarter. Vanguard Group Inc. now owns 11,228,350 shares of the company’s stock valued at $603,636,000 after acquiring an additional 82,485 shares during the last quarter. American Century Companies Inc. increased its stake in shares of GXO Logistics by 25.2% during 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 in the last quarter. Clearbridge Investments LLC raised its position in shares of GXO Logistics by 0.5% during the 1st quarter. Clearbridge Investments LLC now owns 2,956,981 shares of the company’s stock worth $158,967,000 after purchasing an additional 15,463 shares during the last quarter. Fort Pitt Capital Group LLC lifted its stake in GXO Logistics by 2.1% in the 3rd quarter. Fort Pitt Capital Group LLC now owns 2,467,814 shares of the company’s stock valued at $128,499,000 after buying an additional 51,208 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its holdings in GXO Logistics by 11.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,398,933 shares of the company’s stock valued at $121,140,000 after buying an additional 240,766 shares during the last quarter. Hedge funds and other institutional investors own 90.67% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the company. Barclays boosted their price target on GXO Logistics from $55.00 to $60.00 and gave the stock an “equal weight” rating in a report on Wednesday. Susquehanna reduced their target price on shares of GXO Logistics from $75.00 to $73.00 and set a “positive” rating on the stock in a report on Thursday, September 26th. Citigroup started coverage on shares of GXO Logistics in a research note on Wednesday, October 9th. They set a “buy” rating and a $60.00 price target on the stock. TD Cowen upped their price objective on shares of GXO Logistics from $82.00 to $83.00 and gave the company a “buy” rating in a research note on Wednesday, November 6th. Finally, UBS Group lifted their target price on shares of GXO Logistics from $66.00 to $72.00 and gave the stock a “buy” rating in a research note on Wednesday, November 6th. Two equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $67.00.

GXO Logistics Stock Down 1.9 %

Shares of GXO opened at $58.64 on Friday. GXO Logistics, Inc. has a fifty-two week low of $46.07 and a fifty-two week high of $63.33. The company’s fifty day moving average is $56.06 and its two-hundred day moving average is $52.37. The firm has a market cap of $7.01 billion, a PE ratio of 65.16, a price-to-earnings-growth ratio of 1.82 and a beta of 1.55. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.81.

GXO Logistics (NYSE:GXO) last issued 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 return on equity of 10.03% and a net margin of 0.97%. The firm’s revenue for the quarter was up 27.8% compared to the same quarter last year. During the same quarter last year, the firm earned $0.69 earnings per share. Analysts forecast 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.