DnB Asset Management AS reduced its position in shares of GXO Logistics, Inc. (NYSE:GXO – Free Report) by 7.0% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 26,193 shares of the company’s stock after selling 1,963 shares during the period. DnB Asset Management AS’s holdings in GXO Logistics were worth $1,320,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also modified their holdings of GXO. Morgan Stanley boosted its position in shares of GXO Logistics by 58.9% in the 4th quarter. Morgan Stanley now owns 2,746,808 shares of the company’s stock valued at $117,261,000 after purchasing an additional 1,017,980 shares during the period. Mar Vista Investment Partners LLC acquired a new position in shares of GXO Logistics in the 1st quarter valued at $71,087,000. Norges Bank acquired a new position in shares of GXO Logistics in the 4th quarter valued at $41,706,000. Vanguard Group Inc. boosted its position in shares of GXO Logistics by 8.8% in the 3rd quarter. Vanguard Group Inc. now owns 10,796,129 shares of the company’s stock valued at $378,512,000 after purchasing an additional 870,382 shares during the period. Finally, Reinhart Partners Inc. acquired a new position in shares of GXO Logistics in the 4th quarter valued at $24,074,000. Institutional investors and hedge funds own 99.47% of the company’s stock.
GXO Logistics Stock Up 0.4 %
Shares of GXO stock opened at $61.68 on Friday. The stock’s 50 day simple moving average is $58.65 and its 200 day simple moving average is $52.57. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.95 and a current ratio of 0.95. GXO Logistics, Inc. has a twelve month low of $32.10 and a twelve month high of $63.56. The company has a market capitalization of $11.17 billion, a price-to-earnings ratio of 39.29, a PEG ratio of 2.06 and a beta of 1.71.
Analyst Ratings Changes
A number of equities research analysts have commented on the company. Credit Suisse Group raised their price objective on GXO Logistics from $62.00 to $65.00 and gave the stock an “outperform” rating in a research report on Friday, April 14th. Susquehanna raised their price objective on GXO Logistics from $63.00 to $83.00 in a research report on Thursday, June 29th. Oppenheimer raised their price objective on GXO Logistics from $62.00 to $67.00 in a research report on Monday, June 12th. Finally, Stifel Nicolaus raised their price objective on GXO Logistics from $59.00 to $66.00 in a research report on Thursday, May 11th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $62.53.
About GXO Logistics
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, 2022, it operated in approximately 979 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.
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