Retirement Systems of Alabama Lowers Holdings in GXO Logistics, Inc. (NYSE:GXO)

Retirement Systems of Alabama lowered its position in shares of GXO Logistics, Inc. (NYSE:GXO) by 2.7% in the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 304,785 shares of the company’s stock after selling 8,556 shares during the quarter. Retirement Systems of Alabama’s holdings in GXO Logistics were worth $15,870,000 as of its most recent filing with the SEC.

Other hedge funds also recently made changes to their positions in the company. DekaBank Deutsche Girozentrale acquired a new position in shares of GXO Logistics during the third quarter worth about $28,000. UMB Bank n.a. increased its position in GXO Logistics by 111.4% during the 3rd quarter. UMB Bank n.a. now owns 628 shares of the company’s stock worth $33,000 after purchasing an additional 331 shares during the period. Signaturefd LLC increased its position in GXO Logistics by 37.2% during the 3rd quarter. Signaturefd LLC now owns 918 shares of the company’s stock worth $48,000 after purchasing an additional 249 shares during the period. Hara Capital LLC purchased a new position in shares of GXO Logistics during the 3rd quarter worth approximately $50,000. Finally, Whittier Trust Co. of Nevada Inc. lifted its holdings in shares of GXO Logistics by 37.6% in the 3rd quarter. Whittier Trust Co. of Nevada Inc. now owns 1,032 shares of the company’s stock valued at $54,000 after buying an additional 282 shares during the period. Institutional investors and hedge funds own 90.67% of the company’s stock.

GXO Logistics Price Performance

GXO stock opened at $48.51 on Monday. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.86 and a current ratio of 0.86. The stock’s 50 day moving average price is $58.08 and its 200 day moving average price is $53.03. The firm has a market cap of $5.80 billion, a P/E ratio of 53.90, a PEG ratio of 1.49 and a beta of 1.52. GXO Logistics, Inc. has a 1 year low of $46.07 and a 1 year high of $63.33.

GXO Logistics (NYSE:GXO) last posted its quarterly earnings data on Monday, November 4th. The company reported $0.79 EPS for the quarter, beating analysts’ consensus estimates of $0.78 by $0.01. GXO Logistics had a return on equity of 10.03% and a net margin of 0.97%. The business had revenue of $3.16 billion for the quarter, compared to analyst estimates of $3.01 billion. During the same quarter last year, the company earned $0.69 earnings per share. The business’s revenue for the quarter was up 27.8% compared to the same quarter last year. On average, sell-side analysts expect that GXO Logistics, Inc. will post 2.76 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

GXO has been the topic of a number of recent analyst reports. Oppenheimer upped their price objective on GXO Logistics from $63.00 to $67.00 and gave the stock an “outperform” rating in a report on Wednesday, November 27th. UBS Group raised their price objective on shares of GXO Logistics from $66.00 to $72.00 and gave the company a “buy” rating in a research note on Wednesday, November 6th. Barclays decreased their price objective on shares of GXO Logistics from $60.00 to $52.00 and set an “equal weight” rating on the stock in a report on Wednesday, December 4th. Susquehanna dropped 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. Finally, Citigroup began coverage on GXO Logistics in a research note on Wednesday, October 9th. They set a “buy” rating and a $60.00 price target on the stock. Two equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $66.33.

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.