Exchange Traded Concepts LLC Has $11.36 Million Stock Holdings in GXO Logistics, Inc. (NYSE:GXO)

Exchange Traded Concepts LLC reduced its stake in shares of GXO Logistics, Inc. (NYSE:GXO) by 12.0% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 218,233 shares of the company’s stock after selling 29,811 shares during the quarter. Exchange Traded Concepts LLC owned 0.18% of GXO Logistics worth $11,363,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Vanguard Group Inc. increased its stake in shares of GXO Logistics by 0.7% in the first quarter. Vanguard Group Inc. now owns 11,228,350 shares of the company’s stock valued at $603,636,000 after buying an additional 82,485 shares during the period. 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 valued at $162,702,000 after acquiring an additional 648,547 shares in the last quarter. Clearbridge Investments LLC boosted its stake in GXO Logistics by 0.5% during the first quarter. Clearbridge Investments LLC now owns 2,956,981 shares of the company’s stock worth $158,967,000 after acquiring an additional 15,463 shares in the last quarter. Fort Pitt Capital Group LLC grew its holdings in GXO Logistics by 30.4% in the second quarter. Fort Pitt Capital Group LLC now owns 2,416,606 shares of the company’s stock worth $122,039,000 after purchasing an additional 563,057 shares during the period. Finally, Dimensional Fund Advisors LP increased its stake in GXO Logistics by 11.2% in the second quarter. Dimensional Fund Advisors LP now owns 2,398,933 shares of the company’s stock valued at $121,140,000 after purchasing an additional 240,766 shares in the last quarter. Institutional investors own 90.67% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently commented on the company. UBS Group reduced their target price on GXO Logistics from $71.00 to $66.00 and set a “buy” rating for the company in a research note on Wednesday, August 7th. Susquehanna decreased their price objective on GXO Logistics from $75.00 to $73.00 and set a “positive” rating for the company in a report on Thursday, September 26th. Citigroup assumed coverage on GXO Logistics in a report on Wednesday. They issued a “buy” rating and a $60.00 target price on the stock. Finally, JPMorgan Chase & Co. boosted their price target on shares of GXO Logistics from $61.00 to $63.00 and gave the company an “overweight” rating in a research note on Tuesday, July 9th. One equities research analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat.com, GXO Logistics presently has a consensus rating of “Moderate Buy” and a consensus price target of $66.91.

GXO Logistics Trading Up 6.7 %

Shares of GXO stock opened at $61.98 on Friday. GXO Logistics, Inc. has a 52-week low of $46.07 and a 52-week high of $63.07. The company has a 50-day simple moving average of $49.96 and a two-hundred day simple moving average of $50.69. The company has a debt-to-equity ratio of 0.87, a quick ratio of 0.86 and a current ratio of 0.86. The company has a market capitalization of $7.40 billion, a price-to-earnings ratio of 52.97, a PEG ratio of 1.52 and a beta of 1.59.

GXO Logistics (NYSE:GXO) last released its earnings results on Tuesday, August 6th. The company reported $0.55 EPS for the quarter, missing analysts’ consensus estimates of $0.57 by ($0.02). GXO Logistics had a return on equity of 9.86% and a net margin of 1.35%. The business had revenue of $2.85 billion for the quarter, compared to the consensus estimate of $2.73 billion. During the same quarter in the previous year, the firm earned $0.70 earnings per share. The company’s revenue for the quarter was up 18.9% on a year-over-year basis. Research analysts anticipate that GXO Logistics, Inc. will post 2.79 EPS 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.