GXO Logistics, Inc. (NYSE:GXO) Holdings Raised by Synovus Financial Corp

Synovus Financial Corp increased its position in shares of GXO Logistics, Inc. (NYSE:GXO) by 10.8% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 9,018 shares of the company’s stock after purchasing an additional 882 shares during the quarter. Synovus Financial Corp’s holdings in GXO Logistics were worth $470,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the business. State Street Corp lifted its position in shares of GXO Logistics by 1.9% in the 3rd quarter. State Street Corp now owns 3,631,328 shares of the company’s stock worth $189,083,000 after buying an additional 66,232 shares during the last quarter. American Century Companies Inc. raised its stake in GXO Logistics by 25.2% during the second quarter. American Century Companies Inc. now owns 3,221,818 shares of the company’s stock worth $162,702,000 after acquiring an additional 648,547 shares during the period. Fort Pitt Capital Group LLC lifted its holdings in GXO Logistics by 2.1% in the third quarter. Fort Pitt Capital Group LLC now owns 2,467,814 shares of the company’s stock worth $128,499,000 after acquiring an additional 51,208 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in GXO Logistics by 11.2% in the second quarter. Dimensional Fund Advisors LP now owns 2,398,933 shares of the company’s stock valued at $121,140,000 after acquiring an additional 240,766 shares during the period. Finally, Geode Capital Management LLC grew its holdings in shares of GXO Logistics by 1.5% during the third quarter. Geode Capital Management LLC now owns 1,982,920 shares of the company’s stock valued at $103,279,000 after purchasing an additional 29,992 shares during the last quarter. Institutional investors and hedge funds own 90.67% of the company’s stock.

GXO Logistics Price Performance

NYSE GXO opened at $45.11 on Thursday. The company’s 50 day simple moving average is $57.87 and its 200 day simple moving average is $52.94. The company has a debt-to-equity ratio of 0.81, a current ratio of 0.86 and a quick ratio of 0.86. The firm has a market capitalization of $5.39 billion, a PE ratio of 50.12, a P/E/G ratio of 1.49 and a beta of 1.52. GXO Logistics, Inc. has a 12 month low of $45.11 and a 12 month high of $63.33.

GXO Logistics (NYSE:GXO) last issued its quarterly 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 company had revenue of $3.16 billion during the quarter, compared to the consensus estimate of $3.01 billion. GXO Logistics had a net margin of 0.97% and a return on equity of 10.03%. GXO Logistics’s revenue was up 27.8% on a year-over-year basis. During the same period in the prior year, the company earned $0.69 EPS. As a group, equities research analysts forecast that GXO Logistics, Inc. will post 2.76 EPS for the current fiscal year.

Analyst Ratings Changes

Several brokerages recently issued reports on GXO. Susquehanna cut their price target on GXO Logistics from $75.00 to $73.00 and set a “positive” rating on the stock in a report on Thursday, September 26th. Citigroup initiated coverage on shares of GXO Logistics in a research report on Wednesday, October 9th. They set a “buy” rating and a $60.00 price target for the company. UBS Group increased their price objective on shares of GXO Logistics from $66.00 to $72.00 and gave the stock a “buy” rating in a report on Wednesday, November 6th. TD Cowen boosted their target price 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, Oppenheimer raised their price target on shares of GXO Logistics from $63.00 to $67.00 and gave the company an “outperform” rating in a research note on Wednesday, November 27th. Two research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat, GXO Logistics presently has a consensus rating of “Moderate Buy” and a consensus price target of $66.33.

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.