Tidal Investments LLC Invests $667,000 in GXO Logistics, Inc. (NYSE:GXO)

Tidal Investments LLC bought a new position in shares of GXO Logistics, Inc. (NYSE:GXO) during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 12,816 shares of the company’s stock, valued at approximately $667,000.

Several other hedge funds have also modified their holdings of the stock. DekaBank Deutsche Girozentrale purchased a new position in GXO Logistics in the 3rd quarter worth about $28,000. UMB Bank n.a. increased its position in shares of GXO Logistics by 111.4% in the third quarter. UMB Bank n.a. now owns 628 shares of the company’s stock worth $33,000 after acquiring an additional 331 shares in the last quarter. Signaturefd LLC raised its holdings in shares of GXO Logistics by 37.2% during the third quarter. Signaturefd LLC now owns 918 shares of the company’s stock valued at $48,000 after acquiring an additional 249 shares during the period. Hara Capital LLC acquired a new position in GXO Logistics in the 3rd quarter worth approximately $50,000. Finally, Whittier Trust Co. of Nevada Inc. grew its position in GXO Logistics by 37.6% during the 3rd quarter. Whittier Trust Co. of Nevada Inc. now owns 1,032 shares of the company’s stock worth $54,000 after purchasing an additional 282 shares in the last quarter. 90.67% of the stock is owned by hedge funds and other institutional investors.

GXO Logistics Stock Performance

Shares of GXO opened at $41.96 on Friday. The firm has a market cap of $5.01 billion, a price-to-earnings ratio of 46.62, a price-to-earnings-growth ratio of 1.49 and a beta of 1.52. The company’s fifty day moving average is $57.16 and its 200-day moving average is $52.81. 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, Inc. has a 12 month low of $41.95 and a 12 month high of $63.33.

GXO Logistics (NYSE:GXO) last posted its earnings results on Monday, November 4th. The company reported $0.79 EPS for the quarter, topping the consensus estimate of $0.78 by $0.01. GXO Logistics had a net margin of 0.97% and a return on equity of 10.03%. The firm had revenue of $3.16 billion for the quarter, compared to the consensus estimate of $3.01 billion. During the same period in the prior year, the business posted $0.69 earnings per share. The business’s quarterly revenue was up 27.8% on a year-over-year basis. Equities analysts expect that GXO Logistics, Inc. will post 2.76 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on GXO shares. UBS Group increased their target price on GXO Logistics from $66.00 to $72.00 and gave the company a “buy” rating in a report on Wednesday, November 6th. Oppenheimer increased their price objective on GXO Logistics from $63.00 to $67.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 27th. Citigroup initiated coverage on GXO Logistics in a research report on Wednesday, October 9th. They set a “buy” rating and a $60.00 price objective for the company. Barclays dropped their target price on GXO Logistics from $60.00 to $52.00 and set an “equal weight” rating on the stock in a report on Wednesday, December 4th. Finally, Susquehanna decreased their price target on shares of GXO Logistics from $75.00 to $73.00 and set a “positive” rating for the company in a report on Thursday, September 26th. Two equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to data from MarketBeat, GXO Logistics currently has a consensus rating of “Moderate Buy” and an average price target of $66.33.

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.