American International Group Inc. Sells 3,218 Shares of GXO Logistics, Inc. (NYSE:GXO)

American International Group Inc. reduced its stake in shares of GXO Logistics, Inc. (NYSE:GXO) by 2.0% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 157,447 shares of the company’s stock after selling 3,218 shares during the quarter. American International Group Inc. owned 0.13% of GXO Logistics worth $8,464,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Headlands Technologies LLC bought a new stake in shares of GXO Logistics in the fourth quarter worth about $59,000. Motco boosted its position in GXO Logistics by 2,836.4% during the 1st quarter. Motco now owns 1,292 shares of the company’s stock valued at $69,000 after acquiring an additional 1,248 shares in the last quarter. Smithfield Trust Co boosted its position in GXO Logistics by 16.5% during the 1st quarter. Smithfield Trust Co now owns 1,378 shares of the company’s stock valued at $73,000 after acquiring an additional 195 shares in the last quarter. CWM LLC boosted its position in GXO Logistics by 28.1% during the 4th quarter. CWM LLC now owns 1,778 shares of the company’s stock valued at $109,000 after acquiring an additional 390 shares in the last quarter. Finally, Quadrant Capital Group LLC boosted its position in GXO Logistics by 16.9% during the 4th quarter. Quadrant Capital Group LLC now owns 1,988 shares of the company’s stock valued at $122,000 after acquiring an additional 287 shares in the last quarter. 90.67% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the company. Stifel Nicolaus reaffirmed a “buy” rating and set a $74.00 price objective on shares of GXO Logistics in a research report on Wednesday, May 15th. TD Cowen boosted their price target on GXO Logistics from $80.00 to $82.00 and gave the stock a “buy” rating in a research report on Thursday, May 9th. Loop Capital dropped their price target on GXO Logistics from $76.00 to $74.00 and set a “buy” rating on the stock in a research report on Thursday, April 18th. BNP Paribas raised GXO Logistics from an “underperform” rating to a “neutral” rating and set a $50.00 price target on the stock in a research report on Wednesday, March 27th. Finally, Morgan Stanley reissued an “overweight” rating and issued a $70.00 price target on shares of GXO Logistics in a research report on Tuesday, May 14th. One research analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $69.00.

GXO Logistics Stock Up 5.6 %

GXO stock traded up $2.98 during midday trading on Thursday, hitting $56.14. The company’s stock had a trading volume of 344,134 shares, compared to its average volume of 855,379. The company has a market cap of $6.70 billion, a PE ratio of 38.24, a P/E/G ratio of 1.63 and a beta of 1.60. GXO Logistics, Inc. has a 12 month low of $46.38 and a 12 month high of $67.36. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 0.52. The firm’s 50-day moving average is $50.50 and its 200-day moving average is $52.00.

GXO Logistics (NYSE:GXO) last released its quarterly earnings data on Tuesday, May 7th. The company reported $0.45 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.45. The business had revenue of $2.46 billion for the quarter, compared to analysts’ expectations of $2.38 billion. GXO Logistics had a return on equity of 10.60% and a net margin of 1.68%. The firm’s quarterly revenue was up 5.7% on a year-over-year basis. During the same period in the prior year, the firm posted $0.49 EPS. On average, equities research analysts forecast that GXO Logistics, Inc. will post 2.78 earnings per share for the current fiscal year.

Insider Buying and Selling at GXO Logistics

In related news, CEO Malcolm Wilson bought 10,000 shares of the firm’s stock in a transaction on Tuesday, June 11th. The stock was acquired at an average cost of $49.95 per share, for a total transaction of $499,500.00. Following the purchase, the chief executive officer now owns 100,814 shares in the company, valued at $5,035,659.30. The acquisition was disclosed in a filing with the SEC, which is available through this link. Company insiders own 2.20% 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.