Oppenheimer & Co. Inc. Sells 275 Shares of GXO Logistics, Inc. (NYSE:GXO)

Oppenheimer & Co. Inc. trimmed its position in shares of GXO Logistics, Inc. (NYSE:GXO) by 0.4% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 78,031 shares of the company’s stock after selling 275 shares during the period. Oppenheimer & Co. Inc. owned about 0.07% of GXO Logistics worth $3,941,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the company. International Assets Investment Management LLC purchased a new position in GXO Logistics during the 4th quarter valued at $554,000. Jump Financial LLC bought a new stake in shares of GXO Logistics during the fourth quarter valued at approximately $203,000. QRG Capital Management Inc. increased its holdings in GXO Logistics by 173.1% during the 4th quarter. QRG Capital Management Inc. now owns 12,651 shares of the company’s stock worth $774,000 after purchasing an additional 8,018 shares during the period. Envestnet Portfolio Solutions Inc. raised its position in GXO Logistics by 7.4% during the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 4,708 shares of the company’s stock valued at $288,000 after purchasing an additional 325 shares in the last quarter. Finally, Vanguard Personalized Indexing Management LLC raised its position in GXO Logistics by 58.3% during the 4th quarter. Vanguard Personalized Indexing Management LLC now owns 15,994 shares of the company’s stock valued at $978,000 after purchasing an additional 5,891 shares in the last quarter. 90.67% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several brokerages have recently commented on GXO. JPMorgan Chase & Co. raised their price target on GXO Logistics from $61.00 to $63.00 and gave the company an “overweight” rating in a research note on Tuesday, July 9th. UBS Group cut their target price on shares of GXO Logistics from $71.00 to $66.00 and set a “buy” rating on the stock in a research report on Wednesday, August 7th. Finally, Wells Fargo & Company started coverage on shares of GXO Logistics in a research report on Friday, June 7th. They issued an “overweight” rating and a $58.00 price target for the company. One research analyst has rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $67.45.

GXO Logistics Trading Up 2.5 %

NYSE GXO opened at $50.75 on Friday. GXO Logistics, Inc. has a 52 week low of $46.07 and a 52 week high of $63.07. The company has a 50 day moving average price of $50.55 and a 200 day moving average price of $50.43. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.87. The firm has a market cap of $6.06 billion, a PE ratio of 36.51, a price-to-earnings-growth ratio of 1.46 and a beta of 1.58.

GXO Logistics (NYSE:GXO) last issued its quarterly earnings results on Tuesday, August 6th. The company reported $0.55 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.57 by ($0.02). The business had revenue of $2.85 billion for the quarter, compared to analyst estimates of $2.73 billion. GXO Logistics had a return on equity of 9.86% and a net margin of 1.35%. The business’s revenue for the quarter was up 18.9% on a year-over-year basis. During the same period in the previous year, the company posted $0.70 earnings per share. As a group, sell-side analysts forecast that GXO Logistics, Inc. will post 2.79 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.