Independent Advisor Alliance Increases Holdings in GXO Logistics, Inc. (NYSE:GXO)

Independent Advisor Alliance boosted its position in GXO Logistics, Inc. (NYSE:GXO) by 10.4% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 24,749 shares of the company’s stock after buying an additional 2,338 shares during the period. Independent Advisor Alliance’s holdings in GXO Logistics were worth $1,289,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Eminence Capital LP acquired a new stake in GXO Logistics during the 2nd quarter worth about $79,698,000. Swedbank AB acquired a new stake in GXO Logistics during the first quarter worth about $84,672,000. Spruce House Investment Management LLC raised its position in GXO Logistics by 827.8% during the second quarter. Spruce House Investment Management LLC now owns 900,000 shares of the company’s stock valued at $45,450,000 after acquiring an additional 803,000 shares in the last quarter. American Century Companies Inc. lifted its holdings in GXO Logistics by 25.2% in the second quarter. American Century Companies Inc. now owns 3,221,818 shares of the company’s stock valued at $162,702,000 after acquiring an additional 648,547 shares during the period. Finally, Global Alpha Capital Management Ltd. purchased a new stake in GXO Logistics in the 3rd quarter worth approximately $32,434,000. Institutional investors and hedge funds own 90.67% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the stock. Susquehanna lowered their target price on shares of GXO Logistics from $75.00 to $73.00 and set a “positive” rating on the stock in a research note on Thursday, September 26th. Citigroup began coverage on GXO Logistics in a research report on Wednesday, October 9th. They set a “buy” rating and a $60.00 price target on the stock. UBS Group upped their target price on GXO Logistics from $66.00 to $72.00 and gave the stock a “buy” rating in a research note on Wednesday, November 6th. Barclays lifted their price target on shares of GXO Logistics from $55.00 to $60.00 and gave the company an “equal weight” rating in a research note on Wednesday, November 13th. Finally, TD Cowen upped their price objective on shares of GXO Logistics from $82.00 to $83.00 and gave the stock a “buy” rating in a research report on Wednesday, November 6th. Two equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $67.00.

GXO Logistics Price Performance

GXO Logistics stock opened at $60.52 on Wednesday. The company has a fifty day simple moving average of $57.27 and a 200-day simple moving average of $52.77. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.81. The firm has a market capitalization of $7.23 billion, a price-to-earnings ratio of 67.24, a PEG ratio of 1.82 and a beta of 1.55. GXO Logistics, Inc. has a 52-week low of $46.07 and a 52-week high of $63.33.

GXO Logistics (NYSE:GXO) last announced its quarterly earnings data on Monday, November 4th. The company reported $0.79 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.78 by $0.01. GXO Logistics had a net margin of 0.97% and a return on equity of 10.03%. The company had revenue of $3.16 billion during the quarter, compared to analysts’ expectations of $3.01 billion. During the same quarter in the prior year, the company earned $0.69 EPS. GXO Logistics’s revenue was up 27.8% compared to the same quarter last year. On average, equities analysts anticipate that GXO Logistics, Inc. will post 2.77 EPS for the current fiscal 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.