AMI Asset Management Corp Sells 1,791 Shares of GXO Logistics, Inc. (NYSE:GXO)

AMI Asset Management Corp reduced its holdings in shares of GXO Logistics, Inc. (NYSE:GXO) by 5.6% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 30,300 shares of the company’s stock after selling 1,791 shares during the quarter. AMI Asset Management Corp’s holdings in GXO Logistics were worth $1,578,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Eminence Capital LP bought a new position in shares of GXO Logistics during the second quarter worth approximately $79,698,000. Swedbank AB bought a new stake in shares of GXO Logistics in the first quarter valued at about $84,672,000. Spruce House Investment Management LLC boosted its position in shares of GXO Logistics by 827.8% in 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 during the period. American Century Companies Inc. grew its stake 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 acquiring an additional 648,547 shares in the last quarter. Finally, Fort Pitt Capital Group LLC increased its position in GXO Logistics by 30.4% during the second quarter. Fort Pitt Capital Group LLC now owns 2,416,606 shares of the company’s stock worth $122,039,000 after acquiring an additional 563,057 shares during the period. 90.67% of the stock is owned by institutional investors and hedge funds.

GXO Logistics Stock Performance

GXO stock opened at $63.50 on Wednesday. The firm has a market cap of $7.58 billion, a PE ratio of 43.45, a price-to-earnings-growth ratio of 1.81 and a beta of 1.59. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.87. The stock has a 50-day moving average price of $53.29 and a 200-day moving average price of $51.50. GXO Logistics, Inc. has a 1-year low of $46.07 and a 1-year high of $63.50.

GXO Logistics (NYSE:GXO) last announced its quarterly earnings data on Tuesday, August 6th. The company reported $0.55 EPS for the quarter, missing the consensus estimate of $0.57 by ($0.02). GXO Logistics had a return on equity of 9.86% and a net margin of 1.35%. The company had revenue of $2.85 billion for the quarter, compared to analyst estimates of $2.73 billion. During the same period last year, the business earned $0.70 EPS. The business’s quarterly revenue was up 18.9% compared to the same quarter last year. As a group, equities research analysts expect that GXO Logistics, Inc. will post 2.78 earnings per share for the current year.

Analyst Ratings Changes

GXO has been the subject of a number of recent analyst reports. Citigroup assumed coverage on shares of GXO Logistics in a report on Wednesday, October 9th. They set a “buy” rating and a $60.00 price target for the company. UBS Group dropped their price objective on shares of GXO Logistics from $71.00 to $66.00 and set a “buy” rating for the company in a research note on Wednesday, August 7th. JPMorgan Chase & Co. raised their target price on shares of GXO Logistics from $61.00 to $63.00 and gave the company an “overweight” rating in a research report on Tuesday, July 9th. Finally, Susquehanna lowered their price target 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. One investment analyst has rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat.com, GXO Logistics currently has a consensus rating of “Moderate Buy” and a consensus target price of $66.91.

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.