Victory Capital Management Inc. Sells 6,510 Shares of GXO Logistics, Inc. (NYSE:GXO)

Victory Capital Management Inc. cut its holdings in GXO Logistics, Inc. (NYSE:GXO) by 5.5% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 111,713 shares of the company’s stock after selling 6,510 shares during the period. Victory Capital Management Inc.’s holdings in GXO Logistics were worth $5,817,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of GXO. DekaBank Deutsche Girozentrale bought a new position in GXO Logistics in the 3rd quarter valued at $28,000. UMB Bank n.a. raised its position in shares of GXO Logistics by 111.4% during the 3rd quarter. UMB Bank n.a. now owns 628 shares of the company’s stock valued at $33,000 after buying an additional 331 shares in the last quarter. Signaturefd LLC raised its position in shares of GXO Logistics by 37.2% during the 3rd quarter. Signaturefd LLC now owns 918 shares of the company’s stock valued at $48,000 after buying an additional 249 shares in the last quarter. Hara Capital LLC purchased a new stake in shares of GXO Logistics during the 3rd quarter valued at $50,000. Finally, Whittier Trust Co. of Nevada Inc. raised its position in shares of 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 valued at $54,000 after buying an additional 282 shares in the last quarter. 90.67% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages recently commented on GXO. Susquehanna decreased their target price 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. TD Cowen lifted their target price on shares of GXO Logistics from $82.00 to $83.00 and gave the stock a “buy” rating in a research report on Wednesday, November 6th. UBS Group boosted their price objective on shares of GXO Logistics from $66.00 to $72.00 and gave the company a “buy” rating in a research report on Wednesday, November 6th. Barclays boosted their price objective on shares of GXO Logistics from $55.00 to $60.00 and gave the company an “equal weight” rating in a research report on Wednesday, November 13th. Finally, Citigroup began coverage on shares of GXO Logistics in a research report on Wednesday, October 9th. They issued a “buy” rating and a $60.00 price objective on the stock. Two investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $67.00.

GXO Logistics Trading Up 0.8 %

NYSE:GXO opened at $60.47 on Friday. GXO Logistics, Inc. has a one year low of $46.07 and a one year high of $63.33. The company has a debt-to-equity ratio of 0.81, a current ratio of 0.86 and a quick ratio of 0.86. The company’s 50-day simple moving average is $57.06 and its 200 day simple moving average is $52.69. The firm has a market capitalization of $7.22 billion, a P/E ratio of 67.19, a PEG ratio of 1.77 and a beta of 1.55.

GXO Logistics (NYSE:GXO) last issued its earnings results on Monday, November 4th. The company reported $0.79 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.78 by $0.01. The firm had revenue of $3.16 billion for 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 business’s revenue was up 27.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.69 earnings per share. As a group, analysts forecast that GXO Logistics, Inc. will post 2.77 EPS for the current fiscal year.

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.