Brown Brothers Harriman & Co. Grows Stake in GXO Logistics, Inc. (NYSE:GXO)

Brown Brothers Harriman & Co. boosted its stake in GXO Logistics, Inc. (NYSE:GXO) by 19.2% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 472,438 shares of the company’s stock after buying an additional 76,137 shares during the quarter. Brown Brothers Harriman & Co. owned approximately 0.40% of GXO Logistics worth $23,858,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of GXO. Rathbones Group PLC lifted its position in shares of GXO Logistics by 24.3% in the second quarter. Rathbones Group PLC now owns 50,410 shares of the company’s stock valued at $2,546,000 after acquiring an additional 9,865 shares in the last quarter. Oppenheimer Asset Management Inc. lifted its holdings in GXO Logistics by 20.7% in the 2nd quarter. Oppenheimer Asset Management Inc. now owns 5,124 shares of the company’s stock valued at $259,000 after purchasing an additional 880 shares in the last quarter. William Blair Investment Management LLC boosted its stake in GXO Logistics by 0.6% during the 2nd quarter. William Blair Investment Management LLC now owns 469,305 shares of the company’s stock worth $23,700,000 after purchasing an additional 2,784 shares during the last quarter. Prevail Innovative Wealth Advisors LLC purchased a new stake in shares of GXO Logistics during the second quarter worth $2,994,000. Finally, American Century Companies Inc. raised its position in shares of 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 buying an additional 648,547 shares during the last quarter. 90.67% of the stock is currently owned by institutional investors and hedge funds.

GXO Logistics Price Performance

GXO stock opened at $50.75 on Monday. GXO Logistics, Inc. has a 52-week low of $46.07 and a 52-week high of $63.07. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.87. The stock has a market cap of $6.06 billion, a price-to-earnings ratio of 36.51, a price-to-earnings-growth ratio of 1.46 and a beta of 1.58. The business has a fifty day moving average of $50.55 and a two-hundred day moving average of $50.42.

GXO Logistics (NYSE:GXO) last issued its quarterly earnings data on Tuesday, August 6th. The company reported $0.55 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.57 by ($0.02). The company had revenue of $2.85 billion during the quarter, compared to analysts’ expectations of $2.73 billion. GXO Logistics had a net margin of 1.35% and a return on equity of 9.86%. The firm’s quarterly revenue was up 18.9% on a year-over-year basis. During the same quarter last year, the firm posted $0.70 earnings per share. As a group, research analysts anticipate that GXO Logistics, Inc. will post 2.79 earnings per share for the current year.

Analysts Set New Price Targets

Several analysts recently issued reports on the stock. JPMorgan Chase & Co. upped their price objective on shares of GXO Logistics from $61.00 to $63.00 and gave the company an “overweight” rating in a research note on Tuesday, July 9th. Wells Fargo & Company initiated coverage on GXO Logistics in a research report on Friday, June 7th. They issued an “overweight” rating and a $58.00 price target for the company. Finally, UBS Group reduced their price objective on GXO Logistics from $71.00 to $66.00 and set a “buy” rating on the stock in a research report on Wednesday, August 7th. One investment analyst has rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $67.45.

GXO Logistics 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.