Blueshift Asset Management LLC Makes New Investment in GXO Logistics, Inc. (NYSE:GXO)

Blueshift Asset Management LLC acquired a new position in shares of GXO Logistics, Inc. (NYSE:GXO) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 9,540 shares of the company’s stock, valued at approximately $415,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. State Street Corp boosted its position in GXO Logistics by 1.9% during the third quarter. State Street Corp now owns 3,631,328 shares of the company’s stock worth $189,083,000 after purchasing an additional 66,232 shares during the period. Swedbank AB lifted its holdings in shares of GXO Logistics by 13.9% during the fourth quarter. Swedbank AB now owns 2,050,000 shares of the company’s stock worth $89,175,000 after buying an additional 250,000 shares in the last quarter. River Road Asset Management LLC lifted its holdings in shares of GXO Logistics by 53.5% during the fourth quarter. River Road Asset Management LLC now owns 2,008,168 shares of the company’s stock worth $87,355,000 after buying an additional 699,636 shares in the last quarter. Geode Capital Management LLC lifted 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 worth $103,279,000 after buying an additional 29,992 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its holdings in shares of GXO Logistics by 1.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,197,898 shares of the company’s stock worth $62,375,000 after buying an additional 17,953 shares in the last quarter. 90.67% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on GXO. Loop Capital downgraded GXO Logistics from a “buy” rating to a “hold” rating and dropped their target price for the stock from $71.00 to $49.00 in a report on Monday, February 3rd. Wells Fargo & Company dropped their target price on GXO Logistics from $60.00 to $44.00 and set an “overweight” rating for the company in a report on Friday, February 14th. Truist Financial started coverage on GXO Logistics in a research note on Thursday, March 13th. They issued a “hold” rating and a $40.00 price target for the company. Morgan Stanley dropped their price target on GXO Logistics from $63.00 to $57.00 and set an “overweight” rating for the company in a research note on Friday, February 14th. Finally, Oppenheimer dropped their price target on GXO Logistics from $67.00 to $55.00 and set an “outperform” rating for the company in a research note on Tuesday, February 18th. Six analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $55.60.

GXO Logistics Stock Performance

GXO Logistics stock opened at $40.72 on Friday. GXO Logistics, Inc. has a 12-month low of $34.51 and a 12-month high of $63.33. The company has a quick ratio of 0.86, a current ratio of 0.83 and a debt-to-equity ratio of 0.83. The business’s 50-day moving average price is $41.75 and its two-hundred day moving average price is $49.19. The stock has a market cap of $4.87 billion, a PE ratio of 36.35, a P/E/G ratio of 1.34 and a beta of 1.62.

GXO Logistics (NYSE:GXO) last released its earnings results on Wednesday, February 12th. The company reported $1.00 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.94 by $0.06. GXO Logistics had a return on equity of 11.16% and a net margin of 1.14%. As a group, analysts expect that GXO Logistics, Inc. will post 2.49 earnings per share for the current fiscal year.

GXO Logistics Company 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.