Sumitomo Mitsui DS Asset Management Company Ltd Grows Stake in GXO Logistics, Inc. (NYSE:GXO)

Sumitomo Mitsui DS Asset Management Company Ltd lifted its stake in shares of GXO Logistics, Inc. (NYSE:GXO) by 32.5% in the fourth quarter, Holdings Channel reports. The firm owned 48,944 shares of the company’s stock after buying an additional 12,015 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in GXO Logistics were worth $2,993,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. DekaBank Deutsche Girozentrale purchased a new stake in GXO Logistics during the 3rd quarter valued at about $31,000. First Horizon Advisors Inc. grew its stake in GXO Logistics by 81.9% during the 3rd quarter. First Horizon Advisors Inc. now owns 1,912 shares of the company’s stock valued at $112,000 after acquiring an additional 861 shares in the last quarter. U S Global Investors Inc. grew its stake in GXO Logistics by 42.5% during the 4th quarter. U S Global Investors Inc. now owns 2,472 shares of the company’s stock valued at $151,000 after acquiring an additional 737 shares in the last quarter. Harvest Fund Management Co. Ltd grew its stake in GXO Logistics by 108.8% during the 3rd quarter. Harvest Fund Management Co. Ltd now owns 2,909 shares of the company’s stock valued at $171,000 after acquiring an additional 1,516 shares in the last quarter. Finally, Cutler Group LLC CA grew its stake in GXO Logistics by 8,990.9% during the 3rd quarter. Cutler Group LLC CA now owns 3,000 shares of the company’s stock valued at $175,000 after acquiring an additional 2,967 shares in the last quarter. Hedge funds and other institutional investors own 90.67% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on GXO. Loop Capital dropped their price objective on shares of GXO Logistics from $76.00 to $74.00 and set a “buy” rating for the company in a research note on Thursday, April 18th. Stifel Nicolaus upped 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. Citigroup dropped their price objective on shares of GXO Logistics from $66.00 to $64.00 and set a “buy” rating for the company in a research note on Thursday, February 15th. Susquehanna increased their price target on shares of GXO Logistics from $73.00 to $75.00 and gave the company a “positive” rating in a research note on Thursday, February 15th. Finally, TD Cowen increased their price target on shares of GXO Logistics from $70.00 to $78.00 and gave the company an “outperform” rating in a research note on Thursday, February 15th. One analyst has rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $69.54.

Insider Transactions at GXO Logistics

In other news, Director Gena L. Ashe sold 4,737 shares of the company’s stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $50.00, for a total value of $236,850.00. Following the transaction, the director now directly owns 20,851 shares in the company, valued at approximately $1,042,550. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 2.00% of the company’s stock.

GXO Logistics Stock Performance

Shares of GXO stock opened at $50.16 on Wednesday. The firm’s 50 day moving average price is $51.29 and its 200-day moving average price is $54.64. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.98 and a current ratio of 0.98. GXO Logistics, Inc. has a one year low of $48.11 and a one year high of $67.57. The firm has a market cap of $5.99 billion, a P/E ratio of 26.26, a P/E/G ratio of 2.09 and a beta of 1.64.

GXO Logistics (NYSE:GXO) last issued its quarterly earnings data on Tuesday, February 13th. The company reported $0.70 EPS for the quarter, topping the consensus estimate of $0.69 by $0.01. GXO Logistics had a net margin of 2.34% and a return on equity of 10.94%. The firm had revenue of $2.59 billion for the quarter, compared to analyst estimates of $2.55 billion. During the same period in the prior year, the business posted $0.83 EPS. The business’s revenue for the quarter was up 5.0% compared to the same quarter last year. As a group, equities research analysts predict that GXO Logistics, Inc. will post 2.78 EPS for the current year.

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, 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.