MetLife Investment Management LLC Acquires 9,661 Shares of GXO Logistics, Inc. (NYSE:GXO)

Posted by Defense World Staff on Feb 26th, 2023

MetLife Investment Management LLC grew its holdings in GXO Logistics, Inc. (NYSE:GXO – Get Rating) by 14.5% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 76,385 shares of the company’s stock after acquiring an additional 9,661 shares during the quarter. MetLife Investment Management LLC owned 0.06% of GXO Logistics worth $2,678,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of GXO. Wipfli Financial Advisors LLC bought a new position in shares of GXO Logistics during the third quarter worth about $30,000. Fifth Third Bancorp grew its holdings in shares of GXO Logistics by 93.6% during the third quarter. Fifth Third Bancorp now owns 904 shares of the company’s stock worth $32,000 after buying an additional 437 shares in the last quarter. CWM LLC grew its holdings in shares of GXO Logistics by 88.7% during the third quarter. CWM LLC now owns 955 shares of the company’s stock worth $33,000 after buying an additional 449 shares in the last quarter. Ellevest Inc. grew its holdings in shares of GXO Logistics by 53.2% during the third quarter. Ellevest Inc. now owns 1,066 shares of the company’s stock worth $37,000 after buying an additional 370 shares in the last quarter. Finally, Geneos Wealth Management Inc. bought a new position in shares of GXO Logistics during the first quarter worth about $39,000. 99.47% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the company. Wells Fargo & Company decreased their price objective on GXO Logistics from $70.00 to $67.00 and set an “overweight” rating for the company in a report on Thursday, February 16th. BNP Paribas downgraded GXO Logistics from a “neutral” rating to an “underperform” rating and set a $40.00 price target for the company. in a research note on Thursday, February 2nd. Credit Suisse Group restated an “outperform” rating and issued a $63.00 price target on shares of GXO Logistics in a research note on Thursday, February 16th. Barclays raised their price target on GXO Logistics from $52.00 to $55.00 and gave the company an “equal weight” rating in a research note on Wednesday, February 15th. Finally, Oppenheimer raised their price target on GXO Logistics from $52.00 to $60.00 and gave the company an “outperform” rating in a research note on Wednesday, February 15th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $62.41.

GXO Logistics Stock Performance

NYSE:GXO opened at $48.67 on Friday. The stock has a market cap of $5.78 billion, a P/E ratio of 28.97, a PEG ratio of 1.74 and a beta of 1.70. The stock has a 50 day simple moving average of $49.23 and a 200 day simple moving average of $44.14. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.65. GXO Logistics, Inc. has a 1-year low of $32.10 and a 1-year high of $84.45.

GXO Logistics (NYSE:GXO – Get Rating) last released its quarterly earnings results on Tuesday, February 14th. The company reported $0.83 earnings per share for the quarter, topping the consensus estimate of $0.76 by $0.07. The business had revenue of $2.47 billion during the quarter, compared to analysts’ expectations of $2.44 billion. GXO Logistics had a return on equity of 13.12% and a net margin of 2.19%. Research analysts anticipate that GXO Logistics, Inc. will post 2.4 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Gena L. Ashe sold 2,120 shares of GXO Logistics stock in a transaction that occurred on Tuesday, January 17th. The stock was sold at an average price of $52.73, for a total transaction of $111,787.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 11.10% of the stock is currently owned by insiders.

About GXO Logistics

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GXO Logistics, Inc, together with its subsidiaries, provides logistics services worldwide. The company provides warehousing and distribution, order fulfilment, e-commerce, and other supply chain services, as well as reverse logistics or returns management services. As of December 31, 2021, it operated in approximately 906 facilities.