Retirement Systems of Alabama Decreases Stock Position in GXO Logistics, Inc. (NYSE:GXO)

Retirement Systems of Alabama trimmed its stake in shares of GXO Logistics, Inc. (NYSE:GXO) by 2.7% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 304,785 shares of the company’s stock after selling 8,556 shares during the quarter. Retirement Systems of Alabama owned 0.26% of GXO Logistics worth $15,870,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of GXO. DekaBank Deutsche Girozentrale acquired a new position in shares of GXO Logistics during the third quarter worth about $28,000. UMB Bank n.a. lifted its stake in GXO Logistics by 111.4% in the third quarter. UMB Bank n.a. now owns 628 shares of the company’s stock worth $33,000 after acquiring an additional 331 shares during the last quarter. Signaturefd LLC lifted its stake in GXO Logistics by 37.2% in the third quarter. Signaturefd LLC now owns 918 shares of the company’s stock worth $48,000 after acquiring an additional 249 shares during the last quarter. Hara Capital LLC acquired a new position in GXO Logistics during the 3rd quarter worth approximately $50,000. Finally, Whittier Trust Co. of Nevada Inc. increased its position in shares of GXO Logistics by 37.6% in the 3rd quarter. Whittier Trust Co. of Nevada Inc. now owns 1,032 shares of the company’s stock valued at $54,000 after purchasing an additional 282 shares during the last quarter. Hedge funds and other institutional investors own 90.67% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the stock. Citigroup assumed coverage on shares of GXO Logistics in a research report on Wednesday, October 9th. They set a “buy” rating and a $60.00 price objective for the company. UBS Group lifted their price target on GXO Logistics from $66.00 to $72.00 and gave the stock a “buy” rating in a report on Wednesday, November 6th. Susquehanna dropped their price objective on GXO Logistics from $75.00 to $73.00 and set a “positive” rating on the stock in a report on Thursday, September 26th. TD Cowen boosted 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. Finally, Barclays lowered their price target on GXO Logistics from $60.00 to $52.00 and set an “equal weight” rating for the company in a report on Wednesday, December 4th. Two investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $66.33.

GXO Logistics Price Performance

Shares of NYSE GXO opened at $48.51 on Monday. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.81. The stock has a market cap of $5.80 billion, a P/E ratio of 53.90, a P/E/G ratio of 1.49 and a beta of 1.52. The stock has a 50 day moving average of $58.08 and a two-hundred day moving average of $53.03. GXO Logistics, Inc. has a twelve month low of $46.07 and a twelve month high of $63.33.

GXO Logistics (NYSE:GXO) last issued its quarterly earnings results on Monday, November 4th. The company reported $0.79 earnings per share for the quarter, topping analysts’ consensus estimates of $0.78 by $0.01. The firm had revenue of $3.16 billion during the quarter, compared to analysts’ expectations of $3.01 billion. GXO Logistics had a net margin of 0.97% and a return on equity of 10.03%. GXO Logistics’s quarterly revenue was up 27.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.69 EPS. On average, research analysts forecast that GXO Logistics, Inc. will post 2.76 earnings per share 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.