Sterneck Capital Management LLC Grows Position in GXO Logistics, Inc. (NYSE:GXO)

Sterneck Capital Management LLC boosted its position in shares of GXO Logistics, Inc. (NYSE:GXO) by 21.8% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 6,707 shares of the company’s stock after purchasing an additional 1,200 shares during the period. Sterneck Capital Management LLC’s holdings in GXO Logistics were worth $292,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Eminence Capital LP bought a new position in shares of GXO Logistics during the second quarter valued at approximately $79,698,000. Spruce House Investment Management LLC grew its position in GXO Logistics by 827.8% in the 2nd quarter. Spruce House Investment Management LLC now owns 900,000 shares of the company’s stock valued at $45,450,000 after acquiring an additional 803,000 shares during the last quarter. American Century Companies Inc. increased its stake in GXO Logistics by 25.2% in the second 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 period. Global Alpha Capital Management Ltd. bought a new stake in shares of GXO Logistics during the third quarter worth $32,434,000. Finally, Brown Brothers Harriman & Co. boosted its stake in shares of GXO Logistics by 105.0% during the third quarter. Brown Brothers Harriman & Co. now owns 968,267 shares of the company’s stock valued at $50,418,000 after purchasing an additional 495,829 shares during the period. 90.67% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms recently commented on GXO. Oppenheimer raised their price target on shares of GXO Logistics from $63.00 to $67.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 27th. TD Cowen lifted their price target 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. Barclays dropped their price objective on GXO Logistics from $60.00 to $52.00 and set an “equal weight” rating on the stock in a research note on Wednesday, December 4th. Susquehanna decreased their target price on GXO Logistics from $75.00 to $73.00 and set a “positive” rating for the company in a research report on Thursday, September 26th. Finally, UBS Group increased their price target on GXO Logistics from $66.00 to $72.00 and gave the stock a “buy” rating in a research report on Wednesday, November 6th. Two analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $66.33.

GXO Logistics Stock Performance

Shares of GXO opened at $45.53 on Wednesday. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.81. The firm has a market cap of $5.44 billion, a PE ratio of 50.59, a P/E/G ratio of 1.47 and a beta of 1.60. The stock has a fifty day moving average price of $52.74 and a 200-day moving average price of $52.37. GXO Logistics, Inc. has a 12 month low of $41.38 and a 12 month high of $63.33.

GXO Logistics (NYSE:GXO) last posted its quarterly earnings results on Monday, November 4th. The company reported $0.79 EPS for the quarter, beating the consensus estimate of $0.78 by $0.01. GXO Logistics had a net margin of 0.97% and a return on equity of 10.03%. The company had revenue of $3.16 billion for the quarter, compared to analyst estimates of $3.01 billion. During the same period in the prior year, the company earned $0.69 earnings per share. The firm’s revenue was up 27.8% on a year-over-year basis. Equities research analysts predict that GXO Logistics, Inc. will post 2.76 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.