JPMorgan Chase & Co. Sells 141,497 Shares of GXO Logistics, Inc. (NYSE:GXO)

JPMorgan Chase & Co. lowered its holdings in shares of GXO Logistics, Inc. (NYSE:GXO) by 22.2% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 495,119 shares of the company’s stock after selling 141,497 shares during the period. JPMorgan Chase & Co.’s holdings in GXO Logistics were worth $25,781,000 as of its most recent filing with the SEC.

A number of other large investors also recently added to or reduced their stakes in the business. State Street Corp boosted its position in GXO Logistics by 1.9% during the third quarter. State Street Corp now owns 3,631,328 shares of the company’s stock valued at $189,083,000 after buying an additional 66,232 shares during the period. American Century Companies Inc. grew its position in GXO Logistics by 25.2% during the 2nd quarter. American Century Companies Inc. now owns 3,221,818 shares of the company’s stock worth $162,702,000 after acquiring an additional 648,547 shares during the last quarter. Fort Pitt Capital Group LLC increased its stake in GXO Logistics by 2.1% in the 3rd quarter. Fort Pitt Capital Group LLC now owns 2,467,814 shares of the company’s stock worth $128,499,000 after purchasing an additional 51,208 shares during the period. Dimensional Fund Advisors LP lifted its position in GXO Logistics by 11.2% in the second quarter. Dimensional Fund Advisors LP now owns 2,398,933 shares of the company’s stock valued at $121,140,000 after purchasing an additional 240,766 shares during the last quarter. Finally, Geode Capital Management LLC boosted its stake in shares of GXO Logistics by 1.5% during the third quarter. Geode Capital Management LLC now owns 1,982,920 shares of the company’s stock valued at $103,279,000 after purchasing an additional 29,992 shares during the period. Hedge funds and other institutional investors own 90.67% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on GXO shares. Citigroup started coverage on shares of GXO Logistics in a research note on Wednesday, October 9th. They issued a “buy” rating and a $60.00 target price on the stock. TD Cowen raised their target price on GXO Logistics from $82.00 to $83.00 and gave the stock a “buy” rating in a research note on Wednesday, November 6th. Oppenheimer upped their target price on GXO Logistics from $63.00 to $67.00 and gave the stock an “outperform” rating in a report on Wednesday, November 27th. UBS Group increased their target price 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, Susquehanna cut their price objective on shares of GXO Logistics from $75.00 to $73.00 and set a “positive” rating on the stock in a research 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 MarketBeat, GXO Logistics currently has a consensus rating of “Moderate Buy” and an average target price of $66.33.

GXO Logistics Stock Performance

Shares of NYSE GXO opened at $45.53 on Wednesday. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.81. The firm’s 50-day moving average price is $52.74 and its 200-day moving average price is $52.37. GXO Logistics, Inc. has a 52-week low of $41.38 and a 52-week high of $63.33. The company has a market cap of $5.44 billion, a PE ratio of 50.59, a PEG ratio of 1.47 and a beta of 1.60.

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

GXO Logistics 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.