Gabelli Funds LLC Grows Stake in GXO Logistics, Inc. (NYSE:GXO)

Gabelli Funds LLC increased its holdings in GXO Logistics, Inc. (NYSE:GXO) by 18.0% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 26,206 shares of the company’s stock after purchasing an additional 4,000 shares during the period. Gabelli Funds LLC’s holdings in GXO Logistics were worth $1,140,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Guggenheim Capital LLC purchased a new position in shares of GXO Logistics in the fourth quarter worth $211,000. Belpointe Asset Management LLC boosted its holdings in shares of GXO Logistics by 8.9% during the 4th quarter. Belpointe Asset Management LLC now owns 5,728 shares of the company’s stock valued at $249,000 after purchasing an additional 470 shares during the last quarter. Mariner LLC grew its position in shares of GXO Logistics by 9.7% during the fourth quarter. Mariner LLC now owns 7,367 shares of the company’s stock valued at $320,000 after purchasing an additional 653 shares in the last quarter. Barclays PLC increased its holdings in shares of GXO Logistics by 70.1% in the fourth quarter. Barclays PLC now owns 106,404 shares of the company’s stock worth $4,629,000 after purchasing an additional 43,859 shares during the last quarter. Finally, Sterling Capital Management LLC lifted its position in shares of GXO Logistics by 55.5% in the fourth quarter. Sterling Capital Management LLC now owns 6,957 shares of the company’s stock worth $303,000 after buying an additional 2,482 shares in the last quarter. 90.67% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research firms have weighed in on GXO. Deutsche Bank Aktiengesellschaft began coverage on GXO Logistics in a report on Friday, March 7th. They set a “hold” rating and a $45.00 price target for the company. Barclays decreased their price target on shares of GXO Logistics from $52.00 to $45.00 and set an “equal weight” rating on the stock in a research note on Thursday, February 13th. Loop Capital cut shares of GXO Logistics from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $71.00 to $49.00 in a research note on Monday, February 3rd. Stifel Nicolaus restated a “buy” rating and set a $66.00 target price (down from $74.00) on shares of GXO Logistics in a research report on Friday, February 14th. Finally, The Goldman Sachs Group reduced their price objective on GXO Logistics from $63.00 to $54.00 and set a “neutral” rating on the stock in a research note on Thursday, January 16th. Five analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $54.93.

GXO Logistics Stock Up 1.7 %

Shares of NYSE GXO opened at $33.89 on Friday. GXO Logistics, Inc. has a 52-week low of $30.46 and a 52-week high of $63.33. The firm has a market capitalization of $4.05 billion, a price-to-earnings ratio of 30.25, a PEG ratio of 1.34 and a beta of 1.56. The stock has a 50 day moving average price of $38.02 and a 200 day moving average price of $46.94. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.86 and a current ratio of 0.83.

GXO Logistics (NYSE:GXO) last posted its quarterly earnings results on Wednesday, February 12th. The company reported $1.00 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.94 by $0.06. GXO Logistics had a return on equity of 11.16% and a net margin of 1.14%. Sell-side analysts expect that GXO Logistics, Inc. will post 2.49 earnings per share 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.