GXO Logistics, Inc. (NYSE:GXO) Shares Purchased by Sterneck Capital Management LLC

Sterneck Capital Management LLC raised its holdings in shares of GXO Logistics, Inc. (NYSE:GXO) by 21.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,707 shares of the company’s stock after buying an additional 1,200 shares during the quarter. Sterneck Capital Management LLC’s holdings in GXO Logistics were worth $292,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the business. DekaBank Deutsche Girozentrale purchased a new stake in GXO Logistics during the 3rd quarter valued at about $28,000. UMB Bank n.a. boosted its position in shares of GXO Logistics by 111.4% during the 3rd quarter. UMB Bank n.a. now owns 628 shares of the company’s stock valued at $33,000 after acquiring an additional 331 shares during the last quarter. Signaturefd LLC grew its holdings in shares of GXO Logistics by 37.2% in the third quarter. Signaturefd LLC now owns 918 shares of the company’s stock valued at $48,000 after purchasing an additional 249 shares during the period. Hara Capital LLC acquired a new stake in GXO Logistics during the third quarter worth about $50,000. Finally, Whittier Trust Co. of Nevada Inc. boosted its holdings in GXO Logistics by 37.6% in the 3rd quarter. Whittier Trust Co. of Nevada Inc. now owns 1,032 shares of the company’s stock valued at $54,000 after purchasing an additional 282 shares during the last quarter. 90.67% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts have recently commented on the stock. Oppenheimer lifted their price target on shares of GXO Logistics from $63.00 to $67.00 and gave the company an “outperform” rating in a research report on Wednesday, November 27th. UBS Group increased their price target on 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 price objective on shares of GXO Logistics from $82.00 to $83.00 and gave the company a “buy” rating in a report on Wednesday, November 6th. Barclays lowered their target price on shares of GXO Logistics from $60.00 to $52.00 and set an “equal weight” rating for the company in a research note on Wednesday, December 4th. Finally, Citigroup started coverage on shares of GXO Logistics in a research note on Wednesday, October 9th. They issued a “buy” rating and a $60.00 price target on the stock. Two analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $66.33.

GXO Logistics Price Performance

GXO stock opened at $45.53 on Wednesday. GXO Logistics, Inc. has a 1 year low of $41.38 and a 1 year high of $63.33. The firm has a market capitalization of $5.44 billion, a P/E ratio of 50.59, a P/E/G ratio of 1.47 and a beta of 1.60. 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 business’s 50-day moving average is $52.74 and its two-hundred day moving average is $52.37.

GXO Logistics (NYSE:GXO) last issued its quarterly earnings results on Monday, November 4th. The company reported $0.79 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $3.01 billion. During the same quarter in the previous year, the firm earned $0.69 earnings per share. The firm’s quarterly revenue was up 27.8% on a year-over-year basis. Analysts anticipate that GXO Logistics, Inc. will post 2.76 earnings per share for the current fiscal 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.