GXO Logistics, Inc. (NYSE:GXO) Shares Sold by Ionic Capital Management LLC

Ionic Capital Management LLC trimmed its position in GXO Logistics, Inc. (NYSE:GXO) by 8.7% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 126,102 shares of the company’s stock after selling 11,945 shares during the period. GXO Logistics comprises about 1.1% of Ionic Capital Management LLC’s portfolio, making the stock its 7th largest holding. Ionic Capital Management LLC owned approximately 0.11% of GXO Logistics worth $6,566,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in GXO. American Century Companies Inc. increased its stake in shares of GXO Logistics by 25.2% in the 2nd 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 last quarter. Fort Pitt Capital Group LLC increased its position in GXO Logistics by 2.1% during the third quarter. Fort Pitt Capital Group LLC now owns 2,467,814 shares of the company’s stock worth $128,499,000 after purchasing an additional 51,208 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in GXO Logistics by 11.2% during the second quarter. Dimensional Fund Advisors LP now owns 2,398,933 shares of the company’s stock worth $121,140,000 after purchasing an additional 240,766 shares during the period. Swedbank AB boosted its holdings in GXO Logistics by 15.9% in the 2nd quarter. Swedbank AB now owns 1,825,000 shares of the company’s stock valued at $92,162,000 after purchasing an additional 250,000 shares during the last quarter. Finally, Eminence Capital LP purchased a new stake in shares of GXO Logistics in the 2nd quarter valued at approximately $79,698,000. Institutional investors and hedge funds own 90.67% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on GXO. UBS Group upped their price target on GXO Logistics from $66.00 to $72.00 and gave the company a “buy” rating in a research note on Wednesday, November 6th. Citigroup started coverage on shares of GXO Logistics in a research note on Wednesday, October 9th. They set a “buy” rating and a $60.00 target price for the company. Oppenheimer boosted 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. TD Cowen increased their price objective on shares of GXO Logistics from $82.00 to $83.00 and gave the stock a “buy” rating in a research report on Wednesday, November 6th. Finally, Barclays lifted their target price on shares of GXO Logistics from $55.00 to $60.00 and gave the company an “equal weight” rating in a report on Wednesday, November 13th. Two investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat.com, GXO Logistics has a consensus rating of “Moderate Buy” and an average price target of $67.00.

GXO Logistics Stock Performance

Shares of GXO opened at $60.41 on Tuesday. The stock has a market capitalization of $7.22 billion, a P/E ratio of 67.12, a P/E/G ratio of 1.84 and a beta of 1.52. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.86 and a current ratio of 0.86. GXO Logistics, Inc. has a 1 year low of $46.07 and a 1 year high of $63.33. The company’s fifty day moving average is $57.96 and its two-hundred day moving average is $52.99.

GXO Logistics (NYSE:GXO) last announced its quarterly earnings data 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. GXO Logistics had a return on equity of 10.03% and a net margin of 0.97%. The company had revenue of $3.16 billion for the quarter, compared to analyst estimates of $3.01 billion. During the same quarter in the previous year, the company earned $0.69 EPS. The firm’s revenue for the quarter was up 27.8% compared to the same quarter last year. On average, sell-side analysts predict that GXO Logistics, Inc. will post 2.76 earnings per share for the current 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.