Geode Capital Management LLC Boosts Holdings in GXO Logistics, Inc. (NYSE:GXO)

Geode Capital Management LLC boosted its holdings in GXO Logistics, Inc. (NYSE:GXO) by 1.5% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,982,920 shares of the company’s stock after purchasing an additional 29,992 shares during the quarter. Geode Capital Management LLC’s holdings in GXO Logistics were worth $103,279,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the stock. State Street Corp boosted its position in shares of GXO Logistics by 1.9% during the third quarter. State Street Corp now owns 3,631,328 shares of the company’s stock worth $189,083,000 after acquiring an additional 66,232 shares during the last quarter. American Century Companies Inc. boosted its holdings in shares of GXO Logistics by 25.2% during the 2nd quarter. American Century Companies Inc. now owns 3,221,818 shares of the company’s stock valued at $162,702,000 after purchasing an additional 648,547 shares during the last quarter. Fort Pitt Capital Group LLC grew its position in shares of GXO Logistics by 2.1% during the third quarter. Fort Pitt Capital Group LLC now owns 2,467,814 shares of the company’s stock valued at $128,499,000 after purchasing an additional 51,208 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of GXO Logistics by 11.2% in the second quarter. Dimensional Fund Advisors LP now owns 2,398,933 shares of the company’s stock worth $121,140,000 after purchasing an additional 240,766 shares during the last quarter. Finally, Eminence Capital LP bought a new stake in shares of GXO Logistics in the second quarter worth about $79,698,000. 90.67% of the stock is owned by hedge funds and other institutional investors.

GXO Logistics Stock Performance

Shares of GXO Logistics stock opened at $45.11 on Thursday. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.81. The stock’s fifty day moving average is $57.87 and its two-hundred day moving average is $52.94. GXO Logistics, Inc. has a 52 week low of $45.11 and a 52 week high of $63.33. The company has a market capitalization of $5.39 billion, a PE ratio of 50.12, a price-to-earnings-growth ratio of 1.49 and a beta of 1.52.

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

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the company. Oppenheimer raised their price target on GXO Logistics from $63.00 to $67.00 and gave the company an “outperform” rating in a report on Wednesday, November 27th. Susquehanna reduced their price target 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. Barclays dropped their price objective on shares of GXO Logistics from $60.00 to $52.00 and set an “equal weight” rating for the company in a research note on Wednesday, December 4th. Citigroup started coverage on shares of GXO Logistics in a research report on Wednesday, October 9th. They set a “buy” rating and a $60.00 target price on the stock. Finally, UBS Group boosted their price objective on GXO Logistics from $66.00 to $72.00 and gave the stock a “buy” rating in a research note on Wednesday, November 6th. Two research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $66.33.

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.