Victory Capital Management Inc. Has $27.53 Million Stock Holdings in GXO Logistics, Inc. (NYSE:GXO)

Victory Capital Management Inc. lifted its holdings in shares of GXO Logistics, Inc. (NYSE:GXOFree Report) by 136.5% in the third quarter, HoldingsChannel reports. The institutional investor owned 469,391 shares of the company’s stock after buying an additional 270,952 shares during the period. Victory Capital Management Inc.’s holdings in GXO Logistics were worth $27,530,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Morgan Stanley lifted its stake in 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 last quarter. Mar Vista Investment Partners LLC acquired a new stake in GXO Logistics during the first quarter worth approximately $71,087,000. Norges Bank acquired a new stake in GXO Logistics during the fourth quarter worth approximately $41,706,000. Vanguard Group Inc. lifted its position in GXO Logistics by 8.8% during the third quarter. Vanguard Group Inc. now owns 10,796,129 shares of the company’s stock worth $378,512,000 after acquiring an additional 870,382 shares during the last quarter. Finally, First Republic Investment Management Inc. increased its holdings in shares of GXO Logistics by 4,264.3% during the second quarter. First Republic Investment Management Inc. now owns 509,927 shares of the company’s stock worth $32,034,000 after purchasing an additional 498,243 shares during the period. 90.67% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at GXO Logistics

In other GXO Logistics news, Director Gena L. Ashe sold 10,526 shares of GXO Logistics stock in a transaction on Wednesday, January 3rd. The shares were sold at an average price of $58.15, for a total value of $612,086.90. Following the completion of the sale, the director now directly owns 15,062 shares of the company’s stock, valued at $875,855.30. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 2.00% of the stock is owned by company insiders.

GXO Logistics Stock Performance

Shares of GXO Logistics stock opened at $54.35 on Thursday. The firm has a market capitalization of $6.47 billion, a P/E ratio of 32.16, a P/E/G ratio of 2.33 and a beta of 1.72. The company’s 50 day moving average price is $58.44 and its two-hundred day moving average price is $58.81. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.01 and a quick ratio of 1.01. GXO Logistics, Inc. has a fifty-two week low of $43.57 and a fifty-two week high of $67.57.

GXO Logistics (NYSE:GXOGet Free Report) last issued its quarterly earnings results on Tuesday, November 7th. The company reported $0.69 EPS for the quarter, topping analysts’ consensus estimates of $0.65 by $0.04. The company had revenue of $2.47 billion for the quarter, compared to analyst estimates of $2.48 billion. GXO Logistics had a net margin of 2.09% and a return on equity of 11.76%. GXO Logistics’s revenue was up 8.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.75 earnings per share. On average, equities analysts forecast that GXO Logistics, Inc. will post 2.59 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research analysts have recently commented on the stock. JPMorgan Chase & Co. lowered their target price on shares of GXO Logistics from $69.00 to $67.00 and set an “overweight” rating on the stock in a report on Thursday, December 21st. Susquehanna decreased their price objective on shares of GXO Logistics from $74.00 to $66.00 and set a “positive” rating on the stock in a research note on Thursday, November 9th. TD Cowen decreased their price objective on shares of GXO Logistics from $72.00 to $70.00 and set an “outperform” rating on the stock in a research note on Friday, January 12th. Wells Fargo & Company decreased their price objective on shares of GXO Logistics from $75.00 to $65.00 and set an “overweight” rating on the stock in a research note on Thursday, November 9th. Finally, Stifel Nicolaus lifted their price objective on shares of GXO Logistics from $69.00 to $75.00 and gave the company a “buy” rating in a research note on Wednesday, January 10th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $66.92.

Read Our Latest Stock Analysis on GXO Logistics

GXO Logistics Company Profile

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for GXO Logistics (NYSE:GXO)

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