Russell Investments Group Ltd. Acquires 59,366 Shares of GXO Logistics, Inc. (NYSE:GXO)

Russell Investments Group Ltd. raised its holdings in shares of GXO Logistics, Inc. (NYSE:GXO) by 16.3% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 423,059 shares of the company’s stock after purchasing an additional 59,366 shares during the quarter. Russell Investments Group Ltd. owned 0.23% of GXO Logistics worth $26,576,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in GXO. Private Advisor Group LLC purchased a new position in GXO Logistics in the second quarter worth about $1,082,000. Charles Schwab Investment Management Inc. raised its holdings in GXO Logistics by 0.4% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 1,087,193 shares of the company’s stock valued at $68,297,000 after buying an additional 4,315 shares during the period. Humankind Investments LLC bought a new stake in GXO Logistics in the second quarter worth $217,000. Dimensional Fund Advisors LP boosted its stake in GXO Logistics by 0.3% during the second quarter. Dimensional Fund Advisors LP now owns 2,180,270 shares of the company’s stock worth $136,964,000 after buying an additional 5,982 shares during the period. Finally, Veritable L.P. increased its position in GXO Logistics by 2.7% during the second quarter. Veritable L.P. now owns 7,912 shares of the company’s stock valued at $497,000 after acquiring an additional 205 shares during the last quarter. 90.67% of the stock is owned by hedge funds and other institutional investors.

GXO Logistics Stock Performance

GXO opened at $57.62 on Tuesday. The company has a market cap of $6.85 billion, a P/E ratio of 34.09, a price-to-earnings-growth ratio of 2.56 and a beta of 1.75. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.58. The firm’s 50-day moving average price is $55.19 and its 200-day moving average price is $59.28. GXO Logistics, Inc. has a 52-week low of $40.21 and a 52-week high of $67.57.

GXO Logistics (NYSE:GXO) last issued its quarterly earnings results on Tuesday, November 7th. The company reported $0.69 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.65 by $0.04. GXO Logistics had a net margin of 2.09% and a return on equity of 11.76%. The business had revenue of $2.47 billion for the quarter, compared to analyst estimates of $2.48 billion. During the same quarter in the prior year, the business posted $0.75 EPS. GXO Logistics’s revenue for the quarter was up 8.0% compared to the same quarter last year. As a group, equities analysts anticipate that GXO Logistics, Inc. will post 2.59 EPS for the current fiscal year.

Wall Street Analyst Weigh In

GXO has been the subject of a number of recent analyst reports. Wells Fargo & Company dropped their price target on shares of GXO Logistics from $75.00 to $65.00 and set an “overweight” rating for the company in a research note on Thursday, November 9th. Susquehanna reduced their price target on GXO Logistics from $74.00 to $66.00 and set a “positive” rating on the stock in a report on Thursday, November 9th. Citigroup upped their price objective on GXO Logistics from $66.00 to $74.00 and gave the company a “buy” rating in a research report on Thursday, August 31st. UBS Group lowered their price objective on shares of GXO Logistics from $74.00 to $71.00 and set a “buy” rating for the company in a research report on Thursday, November 9th. Finally, Credit Suisse Group reaffirmed an “outperform” rating and set a $81.00 target price on shares of GXO Logistics in a research report on Friday, August 11th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, GXO Logistics has a consensus rating of “Moderate Buy” and an average price target of $67.47.

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, 2022, it operated in approximately 979 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.