GXO Logistics, Inc. $GXO Shares Sold by State of Michigan Retirement System

State of Michigan Retirement System lessened its stake in GXO Logistics, Inc. (NYSE:GXO) by 3.8% during the 2nd quarter, HoldingsChannel reports. The firm owned 27,527 shares of the company’s stock after selling 1,100 shares during the quarter. State of Michigan Retirement System’s holdings in GXO Logistics were worth $1,341,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently made changes to their positions in the company. Larson Financial Group LLC lifted its stake in shares of GXO Logistics by 2,460.7% in the 1st quarter. Larson Financial Group LLC now owns 717 shares of the company’s stock valued at $28,000 after purchasing an additional 689 shares during the period. GAMMA Investing LLC increased its holdings in GXO Logistics by 57.0% in the first quarter. GAMMA Investing LLC now owns 832 shares of the company’s stock valued at $33,000 after buying an additional 302 shares in the last quarter. Northwestern Mutual Wealth Management Co. increased its holdings in GXO Logistics by 72.1% in the first quarter. Northwestern Mutual Wealth Management Co. now owns 945 shares of the company’s stock valued at $37,000 after buying an additional 396 shares in the last quarter. Hantz Financial Services Inc. raised its position in shares of GXO Logistics by 1,964.4% in the second quarter. Hantz Financial Services Inc. now owns 929 shares of the company’s stock worth $45,000 after acquiring an additional 884 shares during the period. Finally, Covestor Ltd boosted its stake in shares of GXO Logistics by 63.2% during the 1st quarter. Covestor Ltd now owns 1,645 shares of the company’s stock worth $64,000 after acquiring an additional 637 shares in the last quarter. 90.67% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the company. JPMorgan Chase & Co. raised their target price on GXO Logistics from $66.00 to $67.00 and gave the company an “overweight” rating in a research report on Thursday. Truist Financial set a $65.00 price objective on GXO Logistics in a report on Tuesday, October 14th. The Goldman Sachs Group upgraded GXO Logistics from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $52.00 to $68.00 in a research report on Wednesday, September 24th. Oppenheimer increased their target price on GXO Logistics from $55.00 to $62.00 and gave the company an “outperform” rating in a research report on Thursday, August 7th. Finally, Susquehanna reissued a “positive” rating and issued a $64.00 price target on shares of GXO Logistics in a research note on Thursday. Eleven equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, GXO Logistics has an average rating of “Moderate Buy” and a consensus target price of $61.77.

GXO Logistics Price Performance

Shares of GXO Logistics stock opened at $50.82 on Friday. The stock has a market capitalization of $5.82 billion, a P/E ratio of 66.87, a PEG ratio of 2.13 and a beta of 1.64. The business has a 50 day simple moving average of $52.87 and a two-hundred day simple moving average of $48.28. GXO Logistics, Inc. has a 12 month low of $30.46 and a 12 month high of $62.07. The company has a debt-to-equity ratio of 0.73, a current ratio of 0.71 and a quick ratio of 0.76.

GXO Logistics (NYSE:GXO) last issued its quarterly earnings results on Tuesday, November 4th. The company reported $0.79 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.78 by $0.01. GXO Logistics had a return on equity of 10.45% and a net margin of 0.69%.The firm had revenue of $3.40 billion for the quarter, compared to analyst estimates of $3.39 billion. During the same period in the previous year, the company posted $0.79 earnings per share. The business’s revenue was up 7.5% on a year-over-year basis. GXO Logistics has set its FY 2025 guidance at 2.430-2.630 EPS. As a group, analysts predict that GXO Logistics, Inc. will post 2.49 EPS 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.