Raymond James Financial Inc. Takes Position in GXO Logistics, Inc. (NYSE:GXO)

Raymond James Financial Inc. purchased a new stake in GXO Logistics, Inc. (NYSE:GXO) during the fourth quarter, Holdings Channel reports. The firm purchased 480,571 shares of the company’s stock, valued at approximately $20,905,000.

A number of other institutional investors also recently bought and sold shares of GXO. Vaughan Nelson Investment Management L.P. acquired a new stake in GXO Logistics in the 4th quarter worth approximately $47,626,000. Global Alpha Capital Management Ltd. acquired a new stake in GXO Logistics in the 3rd quarter worth approximately $32,434,000. Brown Brothers Harriman & Co. boosted its stake in GXO Logistics by 105.0% in the 3rd quarter. Brown Brothers Harriman & Co. now owns 968,267 shares of the company’s stock worth $50,418,000 after purchasing an additional 495,829 shares in the last quarter. Life Planning Partners Inc boosted its stake in GXO Logistics by 4,250.0% in the 4th quarter. Life Planning Partners Inc now owns 263,393 shares of the company’s stock worth $11,458,000 after purchasing an additional 257,338 shares in the last quarter. Finally, Swedbank AB boosted its stake in GXO Logistics by 13.9% in the 4th quarter. Swedbank AB now owns 2,050,000 shares of the company’s stock worth $89,175,000 after purchasing an additional 250,000 shares in the last quarter. 90.67% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms recently commented on GXO. Stifel Nicolaus reiterated a “buy” rating and issued a $66.00 target price (down from $74.00) on shares of GXO Logistics in a research note on Friday, February 14th. Loop Capital cut shares of GXO Logistics from a “buy” rating to a “hold” rating and decreased their price objective for the company from $71.00 to $49.00 in a research note on Monday, February 3rd. Wells Fargo & Company decreased their price objective on shares of GXO Logistics from $60.00 to $44.00 and set an “overweight” rating for the company in a research note on Friday, February 14th. The Goldman Sachs Group decreased their price objective on shares of GXO Logistics from $63.00 to $54.00 and set a “neutral” rating for the company in a research note on Thursday, January 16th. Finally, Barclays decreased their price objective on shares of GXO Logistics from $52.00 to $45.00 and set an “equal weight” rating for the company in a research note on Thursday, February 13th. Six analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $55.60.

GXO Logistics Price Performance

NYSE:GXO opened at $40.26 on Monday. The company has a debt-to-equity ratio of 0.83, a current ratio of 0.83 and a quick ratio of 0.86. The firm has a market cap of $4.81 billion, a price-to-earnings ratio of 35.94, a price-to-earnings-growth ratio of 1.34 and a beta of 1.62. The company has a 50 day moving average price of $42.08 and a 200-day moving average price of $49.43. GXO Logistics, Inc. has a 1-year low of $34.51 and a 1-year high of $63.33.

GXO Logistics (NYSE:GXO) last issued its quarterly earnings results on Wednesday, February 12th. The company reported $1.00 EPS for the quarter, topping the consensus estimate of $0.94 by $0.06. GXO Logistics had a net margin of 1.14% and a return on equity of 11.16%. Equities research analysts forecast that GXO Logistics, Inc. will post 2.49 EPS for the current 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.