Swedbank AB Reduces Holdings in GXO Logistics, Inc. (NYSE:GXO)

Swedbank AB cut its position in GXO Logistics, Inc. (NYSE:GXO) by 1.4% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,800,000 shares of the company’s stock after selling 25,000 shares during the quarter. Swedbank AB’s holdings in GXO Logistics were worth $93,726,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in GXO. Raymond James & Associates boosted its position in GXO Logistics by 16.3% in the 3rd quarter. Raymond James & Associates now owns 466,749 shares of the company’s stock valued at $24,304,000 after buying an additional 65,534 shares during the last quarter. Harbor Capital Advisors Inc. lifted its stake in shares of GXO Logistics by 269.1% in the second quarter. Harbor Capital Advisors Inc. now owns 22,928 shares of the company’s stock worth $1,158,000 after acquiring an additional 16,716 shares in the last quarter. Mediolanum International Funds Ltd purchased a new position in GXO Logistics in the third quarter valued at about $6,819,000. Susquehanna Fundamental Investments LLC grew its stake in GXO Logistics by 537.4% during the 2nd quarter. Susquehanna Fundamental Investments LLC now owns 137,732 shares of the company’s stock valued at $6,955,000 after purchasing an additional 116,125 shares in the last quarter. Finally, Spruce House Investment Management LLC grew its stake in GXO Logistics by 827.8% during the 2nd quarter. Spruce House Investment Management LLC now owns 900,000 shares of the company’s stock valued at $45,450,000 after purchasing an additional 803,000 shares in the last quarter. 90.67% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts have recently commented on GXO shares. UBS Group increased their target price on GXO Logistics from $66.00 to $72.00 and gave the company a “buy” rating in a research note on Wednesday, November 6th. Susquehanna reduced their price objective on shares of GXO Logistics from $75.00 to $73.00 and set a “positive” rating on the stock in a research note on Thursday, September 26th. Barclays boosted their target price on shares of GXO Logistics from $55.00 to $60.00 and gave the stock an “equal weight” rating in a research report on Wednesday, November 13th. Citigroup began coverage on shares of GXO Logistics in a research note on Wednesday, October 9th. They issued a “buy” rating and a $60.00 target price on the stock. Finally, TD Cowen lifted their price target on GXO Logistics from $82.00 to $83.00 and gave the stock a “buy” rating in a research note on Wednesday, November 6th. Two investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat, GXO Logistics has a consensus rating of “Moderate Buy” and an average price target of $67.00.

GXO Logistics Price Performance

GXO opened at $60.47 on Monday. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.81. The company’s 50-day moving average price is $57.06 and its 200 day moving average price is $52.71. GXO Logistics, Inc. has a fifty-two week low of $46.07 and a fifty-two week high of $63.33. The firm has a market cap of $7.23 billion, a price-to-earnings ratio of 67.19, a price-to-earnings-growth ratio of 1.81 and a beta of 1.55.

GXO Logistics (NYSE:GXO) last announced its quarterly earnings results on Monday, November 4th. The company reported $0.79 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.78 by $0.01. The business had revenue of $3.16 billion for the quarter, compared to the consensus estimate of $3.01 billion. GXO Logistics had a return on equity of 10.03% and a net margin of 0.97%. The business’s revenue was up 27.8% on a year-over-year basis. During the same quarter last year, the business posted $0.69 EPS. As a group, sell-side analysts expect that GXO Logistics, Inc. will post 2.77 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.