KBC Group NV Buys 576 Shares of GXO Logistics, Inc. (NYSE:GXO)

KBC Group NV raised its stake in GXO Logistics, Inc. (NYSE:GXO) by 18.6% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 3,665 shares of the company’s stock after buying an additional 576 shares during the period. KBC Group NV’s holdings in GXO Logistics were worth $191,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in GXO. Eminence Capital LP bought a new stake in shares of GXO Logistics in the 2nd quarter valued at about $79,698,000. Swedbank AB bought a new stake in shares of GXO Logistics during the 1st quarter valued at about $84,672,000. Spruce House Investment Management LLC boosted its position in shares of GXO Logistics by 827.8% during the 2nd quarter. Spruce House Investment Management LLC now owns 900,000 shares of the company’s stock valued at $45,450,000 after purchasing an additional 803,000 shares in the last quarter. American Century Companies Inc. boosted its position in shares of GXO Logistics by 25.2% during the 2nd quarter. American Century Companies Inc. now owns 3,221,818 shares of the company’s stock valued at $162,702,000 after purchasing an additional 648,547 shares in the last quarter. Finally, Fort Pitt Capital Group LLC boosted its position in shares of GXO Logistics by 30.4% during the 2nd quarter. Fort Pitt Capital Group LLC now owns 2,416,606 shares of the company’s stock valued at $122,039,000 after purchasing an additional 563,057 shares in the last quarter. Institutional investors own 90.67% of the company’s stock.

GXO Logistics Stock Performance

Shares of GXO Logistics stock opened at $58.50 on Thursday. The company has a market cap of $6.99 billion, a PE ratio of 65.00, a price-to-earnings-growth ratio of 1.76 and a beta of 1.55. GXO Logistics, Inc. has a 52 week low of $46.07 and a 52 week high of $63.33. The business has a 50 day moving average price of $56.66 and a 200-day moving average price of $52.58. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.81.

GXO Logistics (NYSE:GXO) last issued its quarterly earnings data on Monday, November 4th. The company reported $0.79 EPS for the quarter, topping the consensus estimate of $0.78 by $0.01. The firm had revenue of $3.16 billion during the quarter, compared to the consensus estimate of $3.01 billion. GXO Logistics had a return on equity of 10.03% and a net margin of 0.97%. The company’s quarterly revenue was up 27.8% compared to the same quarter last year. During the same period in the prior year, the business posted $0.69 earnings per share. Equities analysts anticipate that GXO Logistics, Inc. will post 2.77 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages recently commented on GXO. Barclays upped their target price on GXO Logistics from $55.00 to $60.00 and gave the company an “equal weight” rating in a research report on Wednesday, November 13th. TD Cowen upped their target price on GXO Logistics from $82.00 to $83.00 and gave the company a “buy” rating in a research report on Wednesday, November 6th. Susquehanna cut their target price on GXO Logistics from $75.00 to $73.00 and set a “positive” rating on the stock in a research report on Thursday, September 26th. UBS Group upped their price target on GXO Logistics from $66.00 to $72.00 and gave the stock a “buy” rating in a research note on Wednesday, November 6th. Finally, Citigroup initiated coverage on GXO Logistics in a research note on Wednesday, October 9th. They set a “buy” rating and a $60.00 price target on the stock. Two equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat, GXO Logistics currently has an average rating of “Moderate Buy” and an average price target of $67.00.

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.