Corebridge Financial Inc. Sells 6,074 Shares of GXO Logistics, Inc. (NYSE:GXO)

Corebridge Financial Inc. decreased its stake in shares of GXO Logistics, Inc. (NYSE:GXO) by 4.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 135,184 shares of the company’s stock after selling 6,074 shares during the period. Corebridge Financial Inc. owned approximately 0.11% of GXO Logistics worth $5,881,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of GXO. R Squared Ltd purchased a new stake in GXO Logistics in the fourth quarter worth about $54,000. Nomura Asset Management Co. Ltd. lifted its stake in shares of GXO Logistics by 33.3% in the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 1,160 shares of the company’s stock valued at $60,000 after purchasing an additional 290 shares during the period. Thurston Springer Miller Herd & Titak Inc. boosted its position in shares of GXO Logistics by 213.5% during 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. Whittier Trust Co. of Nevada Inc. grew its stake in GXO Logistics by 33.7% in the fourth quarter. Whittier Trust Co. of Nevada Inc. now owns 1,380 shares of the company’s stock worth $60,000 after purchasing an additional 348 shares during the period. Finally, Wilmington Savings Fund Society FSB bought a new position in GXO Logistics in the third quarter worth $71,000. Hedge funds and other institutional investors own 90.67% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on GXO. Morgan Stanley reduced their target price on shares of GXO Logistics from $63.00 to $57.00 and set an “overweight” rating on the stock in a research report on Friday, February 14th. Truist Financial began coverage on shares of GXO Logistics in a research note on Thursday, March 13th. They set a “hold” rating and a $40.00 target price for the company. Stifel Nicolaus reissued a “buy” rating and issued a $66.00 price target (down from $74.00) on shares of GXO Logistics in a research report on Friday, February 14th. The Goldman Sachs Group reduced their price objective on GXO Logistics from $63.00 to $54.00 and set a “neutral” rating for the company in a research report on Thursday, January 16th. Finally, Wells Fargo & Company dropped their target price on GXO Logistics from $60.00 to $44.00 and set an “overweight” rating on the stock in a report on Friday, February 14th. Five investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $56.00.

GXO Logistics Stock Down 1.8 %

GXO opened at $39.33 on Friday. The stock has a market capitalization of $4.70 billion, a price-to-earnings ratio of 35.12, a PEG ratio of 1.34 and a beta of 1.62. The firm has a 50 day moving average price of $41.31 and a 200-day moving average price of $48.83. GXO Logistics, Inc. has a twelve month low of $34.51 and a twelve 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.

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%. Equities research analysts forecast that GXO Logistics, Inc. will post 2.49 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.