ProShare Advisors LLC Sells 340 Shares of GXO Logistics, Inc. (NYSE:GXO)

ProShare Advisors LLC trimmed its stake in GXO Logistics, Inc. (NYSE:GXO) by 5.2% in the 2nd quarter, HoldingsChannel reports. The fund owned 6,261 shares of the company’s stock after selling 340 shares during the quarter. ProShare Advisors LLC’s holdings in GXO Logistics were worth $316,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in GXO. Smithfield Trust Co grew its holdings in GXO Logistics by 16.5% in the first quarter. Smithfield Trust Co now owns 1,378 shares of the company’s stock worth $73,000 after purchasing an additional 195 shares during the last quarter. Blue Zone Wealth Advisors LLC raised its stake in GXO Logistics by 0.5% in the first quarter. Blue Zone Wealth Advisors LLC now owns 46,898 shares of the company’s stock valued at $2,521,000 after buying an additional 229 shares during the last quarter. Wealth Enhancement Advisory Services LLC boosted its holdings in GXO Logistics by 0.6% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 44,570 shares of the company’s stock worth $2,251,000 after acquiring an additional 262 shares in the last quarter. Belpointe Asset Management LLC grew its stake in shares of GXO Logistics by 5.8% during the fourth quarter. Belpointe Asset Management LLC now owns 5,253 shares of the company’s stock worth $321,000 after acquiring an additional 290 shares during the last quarter. Finally, Perigon Wealth Management LLC increased its holdings in shares of GXO Logistics by 3.1% during the first quarter. Perigon Wealth Management LLC now owns 9,924 shares of the company’s stock valued at $534,000 after acquiring an additional 301 shares in the last quarter. 90.67% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

GXO has been the subject of a number of recent analyst reports. Susquehanna lowered their target price on shares of GXO Logistics from $75.00 to $73.00 and set a “positive” rating for the company in a research note on Thursday, September 26th. UBS Group dropped their price objective on shares of GXO Logistics from $71.00 to $66.00 and set a “buy” rating on the stock in a report on Wednesday, August 7th. JPMorgan Chase & Co. upped their target price on GXO Logistics from $61.00 to $63.00 and gave the company an “overweight” rating in a research report on Tuesday, July 9th. Finally, Wells Fargo & Company initiated coverage on GXO Logistics in a research report on Friday, June 7th. They set an “overweight” rating and a $58.00 price target for the company. One investment analyst has rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat.com, GXO Logistics has an average rating of “Moderate Buy” and a consensus price target of $67.27.

GXO Logistics Stock Performance

NYSE GXO opened at $49.34 on Friday. The firm has a market capitalization of $5.89 billion, a P/E ratio of 35.50, a PEG ratio of 1.55 and a beta of 1.59. The stock has a 50-day simple moving average of $50.26 and a two-hundred day simple moving average of $50.57. The company has a debt-to-equity ratio of 0.87, a quick ratio of 0.86 and a current ratio of 0.86. GXO Logistics, Inc. has a fifty-two week low of $46.07 and a fifty-two week high of $63.07.

GXO Logistics (NYSE:GXO) last announced its quarterly earnings results on Tuesday, August 6th. The company reported $0.55 earnings per share for the quarter, missing the consensus estimate of $0.57 by ($0.02). The company had revenue of $2.85 billion for the quarter, compared to analysts’ expectations of $2.73 billion. GXO Logistics had a net margin of 1.35% and a return on equity of 9.86%. The firm’s revenue was up 18.9% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.70 earnings per share. On average, equities analysts forecast that GXO Logistics, Inc. will post 2.79 earnings per share for the current 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.