GXO Logistics, Inc. (NYSE:GXO) Holdings Lowered by Argent Trust Co

Argent Trust Co decreased its stake in GXO Logistics, Inc. (NYSE:GXO) by 32.6% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 5,573 shares of the company’s stock after selling 2,701 shares during the quarter. Argent Trust Co’s holdings in GXO Logistics were worth $281,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of GXO. Swedbank AB purchased a new stake in GXO Logistics during the first quarter valued at about $84,672,000. Norges Bank acquired a new stake in shares of GXO Logistics during the fourth quarter valued at approximately $65,002,000. Fort Pitt Capital Group LLC lifted its position in shares of GXO Logistics by 60.4% in the 1st quarter. Fort Pitt Capital Group LLC now owns 1,853,549 shares of the company’s stock valued at $99,647,000 after acquiring an additional 698,180 shares in the last quarter. American Century Companies Inc. boosted its stake in GXO Logistics by 25.2% in the 2nd quarter. American Century Companies Inc. now owns 3,221,818 shares of the company’s stock worth $162,702,000 after purchasing an additional 648,547 shares during the period. Finally, Motley Fool Asset Management LLC grew its position in GXO Logistics by 307.5% during the 1st quarter. Motley Fool Asset Management LLC now owns 648,532 shares of the company’s stock worth $34,865,000 after purchasing an additional 489,369 shares in the last quarter. Hedge funds and other institutional investors own 90.67% of the company’s stock.

Analyst Ratings Changes

GXO has been the subject of a number of research analyst reports. Wells Fargo & Company assumed 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. JPMorgan Chase & Co. upped their price target on GXO Logistics from $61.00 to $63.00 and gave the company an “overweight” rating in a research report on Tuesday, July 9th. Finally, UBS Group decreased their price objective on GXO Logistics from $71.00 to $66.00 and set a “buy” rating for the company in a research report on Wednesday, August 7th. One equities research analyst has rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $67.45.

GXO Logistics Stock Performance

Shares of NYSE GXO opened at $51.55 on Friday. The company has a debt-to-equity ratio of 0.87, a current ratio of 0.86 and a quick ratio of 0.86. GXO Logistics, Inc. has a one year low of $46.07 and a one year high of $63.07. The business’s 50-day moving average price is $50.74 and its two-hundred day moving average price is $50.45. The company has a market capitalization of $6.16 billion, a P/E ratio of 37.08, a price-to-earnings-growth ratio of 1.46 and a beta of 1.58.

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