Seven Eight Capital LP Purchases Shares of 34,800 GXO Logistics, Inc. (NYSE:GXO)

Seven Eight Capital LP acquired a new stake in shares of GXO Logistics, Inc. (NYSE:GXO) in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 34,800 shares of the company’s stock, valued at approximately $1,871,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Smithfield Trust Co increased its holdings in shares of GXO Logistics by 16.5% during the first quarter. Smithfield Trust Co now owns 1,378 shares of the company’s stock worth $73,000 after buying an additional 195 shares in the last quarter. Mathes Company Inc. boosted its stake in GXO Logistics by 1.0% in the fourth quarter. Mathes Company Inc. now owns 23,225 shares of the company’s stock worth $1,420,000 after purchasing an additional 225 shares in the last quarter. Blue Zone Wealth Advisors LLC grew its holdings in shares of GXO Logistics by 0.5% during the first quarter. Blue Zone Wealth Advisors LLC now owns 46,898 shares of the company’s stock worth $2,521,000 after purchasing an additional 229 shares during the last quarter. Ipswich Investment Management Co. Inc. increased its stake in shares of GXO Logistics by 2.0% in the fourth quarter. Ipswich Investment Management Co. Inc. now owns 12,680 shares of the company’s stock valued at $776,000 after buying an additional 250 shares in the last quarter. Finally, Coldstream Capital Management Inc. raised its stake in shares of GXO Logistics by 6.1% in the fourth quarter. Coldstream Capital Management Inc. now owns 4,477 shares of the company’s stock worth $274,000 after acquiring an additional 258 shares during the last quarter. Institutional investors and hedge funds own 90.67% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the company. JPMorgan Chase & Co. upped their price objective on GXO Logistics from $61.00 to $63.00 and gave the stock an “overweight” rating in a report on Tuesday, July 9th. Wells Fargo & Company initiated coverage on GXO Logistics in a research report on Friday, June 7th. They issued an “overweight” rating and a $58.00 price objective for the company. Stifel Nicolaus reaffirmed a “buy” rating and issued a $74.00 target price on shares of GXO Logistics in a research note on Wednesday, May 15th. Morgan Stanley reiterated an “overweight” rating and set a $70.00 price target on shares of GXO Logistics in a research report on Tuesday, May 14th. Finally, Loop Capital cut their price objective on shares of GXO Logistics from $76.00 to $74.00 and set a “buy” rating on the stock in a report on Thursday, April 18th. One research analyst has rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $69.00.

Insider Activity

In related news, CEO Malcolm Wilson purchased 10,000 shares of GXO Logistics stock in a transaction dated Tuesday, June 11th. The stock was bought at an average price of $49.95 per share, for a total transaction of $499,500.00. Following the completion of the acquisition, the chief executive officer now directly owns 100,814 shares of the company’s stock, valued at $5,035,659.30. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. 2.20% of the stock is currently owned by company insiders.

GXO Logistics Trading Down 0.7 %

GXO traded down $0.36 during mid-day trading on Tuesday, hitting $54.19. The stock had a trading volume of 615,831 shares, compared to its average volume of 860,666. The stock’s fifty day simple moving average is $50.49 and its 200-day simple moving average is $51.99. The firm has a market capitalization of $6.47 billion, a price-to-earnings ratio of 38.99, a price-to-earnings-growth ratio of 1.62 and a beta of 1.60. GXO Logistics, Inc. has a 1-year low of $46.38 and a 1-year high of $67.36. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.94 and a quick ratio of 0.94.

GXO Logistics (NYSE:GXO) last issued its quarterly earnings data on Tuesday, May 7th. The company reported $0.45 EPS for the quarter, hitting the consensus estimate of $0.45. GXO Logistics had a return on equity of 10.60% and a net margin of 1.68%. The business had revenue of $2.46 billion for the quarter, compared to the consensus estimate of $2.38 billion. During the same quarter last year, the business posted $0.49 EPS. The firm’s revenue was up 5.7% compared to the same quarter last year. As a group, research analysts forecast that GXO Logistics, Inc. will post 2.78 EPS for the current fiscal 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.