Wellington Shields Capital Management LLC Lowers Holdings in GXO Logistics, Inc. (NYSE:GXO)

Wellington Shields Capital Management LLC reduced its position in shares of GXO Logistics, Inc. (NYSE:GXO) by 30.9% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,400 shares of the company’s stock after selling 4,200 shares during the period. Wellington Shields Capital Management LLC’s holdings in GXO Logistics were worth $409,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. R Squared Ltd purchased a new position in GXO Logistics during the fourth quarter worth about $54,000. Nomura Asset Management Co. Ltd. increased its position in shares of GXO Logistics by 33.3% in the third quarter. Nomura Asset Management Co. Ltd. now owns 1,160 shares of the company’s stock worth $60,000 after purchasing an additional 290 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. raised its stake in GXO Logistics by 213.5% in the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 1,370 shares of the company’s stock valued at $60,000 after purchasing an additional 933 shares in the last quarter. Wilmington Savings Fund Society FSB bought a new stake in GXO Logistics during the third quarter valued at approximately $71,000. Finally, Brooklyn Investment Group purchased a new position in GXO Logistics in the third quarter worth $106,000. Institutional investors own 90.67% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have issued reports on GXO. Loop Capital lowered GXO Logistics from a “buy” rating to a “hold” rating and cut their target price for the stock from $71.00 to $49.00 in a research note on Monday, February 3rd. Barclays cut their price objective on shares of GXO Logistics from $52.00 to $45.00 and set an “equal weight” rating for the company in a research note on Thursday, February 13th. The Goldman Sachs Group decreased their target price on shares of GXO Logistics from $63.00 to $54.00 and set a “neutral” rating on the stock in a research report on Thursday, January 16th. Truist Financial began coverage on shares of GXO Logistics in a research report on Thursday. They set a “hold” rating and a $40.00 price target for the company. Finally, Stifel Nicolaus reaffirmed a “buy” rating and set a $66.00 price objective (down from $74.00) on shares of GXO Logistics in a research note on Friday, February 14th. Six investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat, GXO Logistics currently has an average rating of “Moderate Buy” and an average target price of $55.60.

GXO Logistics Stock Performance

NYSE:GXO opened at $40.26 on Friday. 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 firm’s fifty day simple moving average is $42.08 and its 200 day simple moving average is $49.43. The stock has a market cap of $4.81 billion, a P/E ratio of 35.94, a price-to-earnings-growth ratio of 1.34 and a beta of 1.62. GXO Logistics, Inc. has a twelve month low of $34.51 and a twelve month high of $63.33.

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