Summitry LLC Increases Stock Holdings in GXO Logistics, Inc. (NYSE:GXO)

Summitry LLC raised its stake in shares of GXO Logistics, Inc. (NYSE:GXO) by 2.1% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 659,872 shares of the company’s stock after purchasing an additional 13,537 shares during the quarter. GXO Logistics makes up about 1.4% of Summitry LLC’s holdings, making the stock its 27th biggest holding. Summitry LLC’s holdings in GXO Logistics were worth $28,704,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in the stock. Murphy & Mullick Capital Management Corp bought a new stake in shares of GXO Logistics during the 4th quarter valued at about $41,000. 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 holdings in 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 buying an additional 290 shares during the period. Thurston Springer Miller Herd & Titak Inc. boosted its position in GXO Logistics by 213.5% during the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 1,370 shares of the company’s stock valued at $60,000 after acquiring an additional 933 shares in the last quarter. Finally, Whittier Trust Co. of Nevada Inc. grew its holdings in shares of GXO Logistics by 33.7% during the 4th quarter. Whittier Trust Co. of Nevada Inc. now owns 1,380 shares of the company’s stock worth $60,000 after acquiring an additional 348 shares during the period. 90.67% of the stock is currently owned by institutional investors.

GXO Logistics Stock Performance

GXO stock opened at $40.26 on Wednesday. The stock’s 50 day simple moving average is $41.59 and its 200 day simple moving average is $49.02. The company has a current ratio of 0.83, a quick ratio of 0.86 and a debt-to-equity ratio of 0.83. GXO Logistics, Inc. has a 12-month low of $34.51 and a 12-month high of $63.33. The stock has a market capitalization of $4.81 billion, a PE ratio of 35.95, a price-to-earnings-growth ratio of 1.34 and a beta of 1.62.

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

Analyst Upgrades and Downgrades

A number of research firms have recently commented on GXO. Loop Capital cut GXO Logistics from a “buy” rating to a “hold” rating and lowered their target price for the company from $71.00 to $49.00 in a research note on Monday, February 3rd. The Goldman Sachs Group lowered 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. Wells Fargo & Company reduced their target price on shares of GXO Logistics from $60.00 to $44.00 and set an “overweight” rating on the stock in a research report on Friday, February 14th. Oppenheimer decreased their price target on shares of GXO Logistics from $67.00 to $55.00 and set an “outperform” rating for the company in a research note on Tuesday, February 18th. Finally, Truist Financial started coverage on shares of GXO Logistics in a research note on Thursday, March 13th. They set a “hold” rating and a $40.00 price objective on the stock. Six 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, GXO Logistics currently has a consensus rating of “Moderate Buy” and an average target price of $55.60.

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.