Victory Capital Management Inc. Sells 3,204 Shares of GXO Logistics, Inc. (NYSE:GXO)

Victory Capital Management Inc. cut its holdings in shares of GXO Logistics, Inc. (NYSE:GXO) by 2.6% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 118,223 shares of the company’s stock after selling 3,204 shares during the period. Victory Capital Management Inc. owned approximately 0.10% of GXO Logistics worth $5,970,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in GXO. Swedbank AB acquired a new position in GXO Logistics during the 1st quarter valued at about $84,672,000. Norges Bank purchased a new position in shares of GXO Logistics during the fourth quarter valued at approximately $65,002,000. Fort Pitt Capital Group LLC grew its holdings in GXO Logistics by 60.4% during the first quarter. Fort Pitt Capital Group LLC now owns 1,853,549 shares of the company’s stock worth $99,647,000 after buying an additional 698,180 shares in the last quarter. Motley Fool Asset Management LLC raised its position in GXO Logistics by 307.5% in the 1st quarter. Motley Fool Asset Management LLC now owns 648,532 shares of the company’s stock valued at $34,865,000 after buying an additional 489,369 shares during the last quarter. Finally, Harel Insurance Investments & Financial Services Ltd. lifted its stake in GXO Logistics by 127.8% during the 1st quarter. Harel Insurance Investments & Financial Services Ltd. now owns 554,731 shares of the company’s stock valued at $29,822,000 after acquiring an additional 311,168 shares in the last quarter. 90.67% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several analysts have recently commented on the stock. UBS Group lowered their target price on shares of GXO Logistics from $71.00 to $66.00 and set a “buy” rating for the company in a report on Wednesday, August 7th. JPMorgan Chase & Co. lifted their target price on shares of GXO Logistics from $61.00 to $63.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 9th. Finally, Wells Fargo & Company began coverage on GXO Logistics in a report on Friday, June 7th. They issued an “overweight” rating and a $58.00 target price for the company. One equities research analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $67.45.

GXO Logistics Stock Up 2.5 %

GXO stock opened at $50.75 on Monday. GXO Logistics, Inc. has a fifty-two week low of $46.07 and a fifty-two week high of $63.07. The stock has a fifty day moving average of $50.55 and a 200-day moving average of $50.42. The company has a market capitalization of $6.06 billion, a price-to-earnings ratio of 36.51, a PEG ratio of 1.46 and a beta of 1.58. The company has a debt-to-equity ratio of 0.87, a quick ratio of 0.86 and a current ratio of 0.86.

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

About GXO Logistics

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.