Cannell & Co. Decreases Stake in GXO Logistics, Inc. (NYSE:GXO)

Cannell & Co. reduced its stake in GXO Logistics, Inc. (NYSE:GXO) by 8.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 10,574 shares of the company’s stock after selling 1,012 shares during the period. Cannell & Co.’s holdings in GXO Logistics were worth $647,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Payden & Rygel Investment Group purchased a new position in GXO Logistics in the 3rd quarter worth approximately $18,272,000. Federated Hermes Inc. increased its stake in GXO Logistics by 3.0% in the 4th quarter. Federated Hermes Inc. now owns 1,126,959 shares of the company’s stock worth $68,925,000 after purchasing an additional 33,320 shares during the period. Amalgamated Bank increased its stake in shares of GXO Logistics by 13.9% during the third quarter. Amalgamated Bank now owns 87,426 shares of the company’s stock valued at $5,128,000 after buying an additional 10,660 shares during the period. Retirement Planning Co of New England Inc. increased its stake in shares of GXO Logistics by 79.0% during the third quarter. Retirement Planning Co of New England Inc. now owns 22,978 shares of the company’s stock valued at $1,348,000 after buying an additional 10,141 shares during the period. Finally, Motley Fool Wealth Management LLC increased its stake in shares of GXO Logistics by 59.8% during the fourth quarter. Motley Fool Wealth Management LLC now owns 184,398 shares of the company’s stock valued at $11,258,000 after buying an additional 68,989 shares during the period. 90.67% of the stock is owned by hedge funds and other institutional investors.

GXO Logistics Price Performance

Shares of GXO stock opened at $49.28 on Thursday. The stock has a market cap of $5.89 billion, a price-to-earnings ratio of 25.80, a PEG ratio of 2.09 and a beta of 1.63. The business’s fifty day moving average is $50.80 and its 200 day moving average is $54.45. GXO Logistics, Inc. has a twelve month low of $48.11 and a twelve month high of $67.57. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.55.

GXO Logistics (NYSE:GXO) last issued its quarterly earnings results on Tuesday, February 13th. The company reported $0.70 earnings per share for the quarter, topping the consensus estimate of $0.69 by $0.01. GXO Logistics had a return on equity of 10.94% and a net margin of 2.34%. The company had revenue of $2.59 billion for the quarter, compared to analysts’ expectations of $2.55 billion. During the same period in the prior year, the firm earned $0.83 earnings per share. The firm’s revenue for the quarter was up 5.0% on a year-over-year basis. Research analysts expect that GXO Logistics, Inc. will post 2.78 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on GXO shares. BNP Paribas raised GXO Logistics from an “underperform” rating to a “neutral” rating and set a $50.00 target price on the stock in a research note on Wednesday, March 27th. Stifel Nicolaus boosted their target price on GXO Logistics from $69.00 to $75.00 and gave the company a “buy” rating in a research note on Wednesday, January 10th. JPMorgan Chase & Co. reduced their target price on GXO Logistics from $67.00 to $65.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 9th. Susquehanna boosted their target price on GXO Logistics from $73.00 to $75.00 and gave the company a “positive” rating in a research note on Thursday, February 15th. Finally, TD Cowen boosted their target price on GXO Logistics from $78.00 to $80.00 and gave the company a “buy” rating in a research note on Thursday, April 25th. One investment analyst has rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat.com, GXO Logistics presently has an average rating of “Moderate Buy” and a consensus price target of $69.69.

Insider Transactions at GXO Logistics

In related news, Director Gena L. Ashe sold 4,737 shares of the stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $50.00, for a total transaction of $236,850.00. Following the sale, the director now directly owns 20,851 shares of the company’s stock, valued at $1,042,550. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders own 2.00% of the company’s stock.

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, 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.