GXO Logistics, Inc. (NYSE:GXO) Shares Acquired by Millennium Management LLC

Millennium Management LLC raised its stake in shares of GXO Logistics, Inc. (NYSE:GXO) by 105.5% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 487,200 shares of the company’s stock after buying an additional 250,113 shares during the period. Millennium Management LLC owned approximately 0.41% of GXO Logistics worth $24,604,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Mather Group LLC. increased its position in shares of GXO Logistics by 170.7% during the 2nd quarter. Mather Group LLC. now owns 1,110 shares of the company’s stock valued at $60,000 after purchasing an additional 700 shares during the period. Allspring Global Investments Holdings LLC grew its holdings in GXO Logistics by 920.8% during the second quarter. Allspring Global Investments Holdings LLC now owns 1,276 shares of the company’s stock worth $64,000 after acquiring an additional 1,151 shares during the period. Motco raised its position in GXO Logistics by 2,836.4% in the first quarter. Motco now owns 1,292 shares of the company’s stock worth $69,000 after acquiring an additional 1,248 shares in the last quarter. Smithfield Trust Co lifted its holdings in GXO Logistics by 16.5% in the 1st quarter. Smithfield Trust Co now owns 1,378 shares of the company’s stock valued at $73,000 after acquiring an additional 195 shares during the last quarter. Finally, LRI Investments LLC bought a new position in shares of GXO Logistics during the 1st quarter valued at about $80,000. 90.67% of the stock is currently owned by institutional investors.

GXO Logistics Price Performance

Shares of NYSE:GXO opened at $49.34 on Friday. The firm has a market cap of $5.89 billion, a price-to-earnings ratio of 35.50, a P/E/G ratio of 1.55 and a beta of 1.59. GXO Logistics, Inc. has a 1 year low of $46.07 and a 1 year high of $63.07. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.87. The business has a fifty day simple moving average of $50.26 and a 200 day simple moving average of $50.57.

GXO Logistics (NYSE:GXO) last released its quarterly earnings data on Tuesday, August 6th. The company reported $0.55 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.57 by ($0.02). The business had revenue of $2.85 billion during the quarter, compared to analyst estimates 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 for the quarter was up 18.9% on a year-over-year basis. During the same period in the previous year, the firm posted $0.70 EPS. As a group, sell-side analysts predict that GXO Logistics, Inc. will post 2.79 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

GXO has been the subject of a number of research reports. Susquehanna reduced their target price on shares of GXO Logistics from $75.00 to $73.00 and set a “positive” rating for the company in a report on Thursday, September 26th. Wells Fargo & Company began coverage on GXO Logistics in a report on Friday, June 7th. They issued an “overweight” rating and a $58.00 target price on the stock. 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 report on Tuesday, July 9th. Finally, UBS Group dropped their price target on GXO Logistics from $71.00 to $66.00 and set a “buy” rating on the stock in a research note on Wednesday, August 7th. One equities 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 currently has a consensus rating of “Moderate Buy” and an average price target of $67.27.

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.