MQS Management LLC Decreases Stake in GXO Logistics, Inc. (NYSE:GXO)

MQS Management LLC decreased its holdings in shares of GXO Logistics, Inc. (NYSE:GXO) by 27.0% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,964 shares of the company’s stock after selling 2,211 shares during the quarter. MQS Management LLC’s holdings in GXO Logistics were worth $301,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the business. Mather Group LLC. raised its holdings in GXO Logistics by 170.7% in the 2nd quarter. Mather Group LLC. now owns 1,110 shares of the company’s stock valued at $60,000 after acquiring an additional 700 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its position in GXO Logistics by 920.8% during the second quarter. Allspring Global Investments Holdings LLC now owns 1,276 shares of the company’s stock worth $64,000 after buying an additional 1,151 shares in the last quarter. Motco boosted its stake in GXO Logistics by 2,836.4% during the first quarter. Motco now owns 1,292 shares of the company’s stock worth $69,000 after buying an additional 1,248 shares during the last quarter. Smithfield Trust Co grew its holdings in GXO Logistics by 16.5% in the 1st quarter. Smithfield Trust Co now owns 1,378 shares of the company’s stock valued at $73,000 after buying an additional 195 shares in the last quarter. Finally, LRI Investments LLC acquired a new stake in shares of GXO Logistics in the 1st quarter worth $80,000. 90.67% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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

GXO Logistics Stock Down 2.5 %

NYSE:GXO opened at $51.55 on Friday. GXO Logistics, Inc. has a 52 week low of $46.07 and a 52 week high of $63.07. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.87. The stock’s fifty day moving average is $50.74 and its two-hundred day moving average is $50.45. The stock has a market capitalization of $6.16 billion, a price-to-earnings ratio of 37.08, a price-to-earnings-growth ratio of 1.46 and a beta of 1.58.

GXO Logistics (NYSE:GXO) last released 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 firm had revenue of $2.85 billion during the quarter, compared to analyst estimates of $2.73 billion. GXO Logistics had a net margin of 1.35% and a return on equity of 9.86%. The business’s revenue was up 18.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.70 earnings per share. Research analysts anticipate that GXO Logistics, Inc. will post 2.79 EPS 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.