GXO Logistics, Inc. (NYSE:GXO) Shares Purchased by Oppenheimer Asset Management Inc.

Oppenheimer Asset Management Inc. boosted its holdings in GXO Logistics, Inc. (NYSE:GXO) by 20.7% during the second quarter, Holdings Channel.com reports. The fund owned 5,124 shares of the company’s stock after acquiring an additional 880 shares during the period. Oppenheimer Asset Management Inc.’s holdings in GXO Logistics were worth $259,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in GXO. Mather Group LLC. grew its stake 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 grew its stake in GXO Logistics by 920.8% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 1,276 shares of the company’s stock valued at $64,000 after acquiring an additional 1,151 shares during the last quarter. Motco grew its stake in GXO Logistics by 2,836.4% in the 1st quarter. Motco now owns 1,292 shares of the company’s stock valued at $69,000 after acquiring an additional 1,248 shares during the last quarter. Smithfield Trust Co grew its stake 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 acquiring an additional 195 shares during the last quarter. Finally, LRI Investments LLC acquired a new stake in GXO Logistics in the 1st quarter valued at about $80,000. 90.67% of the stock is owned by institutional investors and hedge funds.

GXO Logistics Price Performance

GXO opened at $51.51 on Friday. The company’s 50 day simple moving average is $50.72 and its 200 day simple moving average is $50.46. The company has a debt-to-equity ratio of 0.87, a quick ratio of 0.86 and a current ratio of 0.86. GXO Logistics, Inc. has a 1 year low of $46.07 and a 1 year high of $63.07. The stock has a market capitalization of $6.15 billion, a PE ratio of 37.06, a P/E/G 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 (EPS) for the quarter, missing the consensus estimate of $0.57 by ($0.02). GXO Logistics had a return on equity of 9.86% and a net margin of 1.35%. The company had revenue of $2.85 billion during the quarter, compared to analyst estimates of $2.73 billion. During the same period in the prior year, the business posted $0.70 earnings per share. GXO Logistics’s revenue was up 18.9% on a year-over-year basis. As a group, sell-side analysts expect that GXO Logistics, Inc. will post 2.79 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the stock. JPMorgan Chase & Co. increased their price objective on shares of GXO Logistics from $61.00 to $63.00 and gave the company an “overweight” rating in a research note on Tuesday, July 9th. Wells Fargo & Company assumed coverage on shares of GXO Logistics in a research note on Friday, June 7th. They set an “overweight” rating and a $58.00 price target on the stock. Finally, UBS Group decreased 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 note on Wednesday, August 7th. One investment analyst has rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat.com, GXO Logistics currently has an average rating of “Moderate Buy” and a consensus target price of $67.45.

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.