American Century Companies Inc. Lowers Holdings in GXO Logistics, Inc. (NYSE:GXO)

American Century Companies Inc. lowered its stake in shares of GXO Logistics, Inc. (NYSE:GXO) by 71.4% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 884,607 shares of the company’s stock after selling 2,212,970 shares during the quarter. American Century Companies Inc. owned about 0.74% of GXO Logistics worth $38,480,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the stock. R Squared Ltd purchased a new position in GXO Logistics during the fourth quarter worth approximately $54,000. Nomura Asset Management Co. Ltd. raised its position in shares of GXO Logistics by 33.3% in the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 1,160 shares of the company’s stock worth $60,000 after buying an additional 290 shares during the period. Thurston Springer Miller Herd & Titak Inc. boosted its holdings in GXO Logistics by 213.5% in the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 1,370 shares of the company’s stock valued at $60,000 after acquiring an additional 933 shares during the last quarter. Whittier Trust Co. of Nevada Inc. grew its position in GXO Logistics by 33.7% during the fourth quarter. Whittier Trust Co. of Nevada Inc. now owns 1,380 shares of the company’s stock valued at $60,000 after acquiring an additional 348 shares during the period. Finally, Wilmington Savings Fund Society FSB acquired a new stake in GXO Logistics during the third quarter worth about $71,000. 90.67% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

GXO has been the topic of several research analyst reports. Loop Capital lowered GXO Logistics from a “buy” rating to a “hold” rating and reduced their price objective for the company from $71.00 to $49.00 in a research note on Monday, February 3rd. Stifel Nicolaus reiterated a “buy” rating and set a $66.00 price objective (down from $74.00) on shares of GXO Logistics in a research note on Friday, February 14th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of GXO Logistics in a research note on Friday, March 7th. They issued a “hold” rating and a $45.00 target price on the stock. Truist Financial initiated coverage on shares of GXO Logistics in a research report on Thursday, March 13th. They set a “hold” rating and a $40.00 price target for the company. Finally, UBS Group cut their price objective on GXO Logistics from $72.00 to $50.00 and set a “buy” rating on the stock in a research report on Friday, February 14th. Five equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $56.00.

GXO Logistics Price Performance

Shares of NYSE GXO opened at $39.99 on Friday. The company has a quick ratio of 0.86, a current ratio of 0.83 and a debt-to-equity ratio of 0.83. GXO Logistics, Inc. has a fifty-two week low of $34.51 and a fifty-two week high of $63.33. The business has a 50 day moving average price of $41.41 and a two-hundred day moving average price of $48.90. The firm has a market cap of $4.78 billion, a PE ratio of 35.70, a price-to-earnings-growth ratio of 1.34 and a beta of 1.62.

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