Walleye Capital LLC purchased a new stake in shares of GXO Logistics, Inc. (NYSE:GXO – Get Rating) during the first quarter, HoldingsChannel.com reports. The fund purchased 17,936 shares of the company’s stock, valued at approximately $1,280,000.
A number of other institutional investors have also recently made changes to their positions in GXO. BlackRock Inc. boosted its position in GXO Logistics by 10.1% in the first quarter. BlackRock Inc. now owns 11,164,769 shares of the company’s stock worth $796,492,000 after purchasing an additional 1,023,715 shares during the last quarter. Mar Vista Investment Partners LLC purchased a new position in GXO Logistics in the first quarter worth about $71,087,000. Pendal Group Ltd increased its holdings in GXO Logistics by 195.2% during the first quarter. Pendal Group Ltd now owns 1,424,750 shares of the company’s stock valued at $101,642,000 after buying an additional 942,128 shares during the last quarter. American Century Companies Inc. increased its holdings in GXO Logistics by 33.3% during the first quarter. American Century Companies Inc. now owns 3,719,572 shares of the company’s stock valued at $265,354,000 after buying an additional 929,177 shares during the last quarter. Finally, Eaton Vance Management purchased a new stake in GXO Logistics during the fourth quarter valued at approximately $74,164,000. Hedge funds and other institutional investors own 83.54% of the company’s stock.
Analysts Set New Price Targets
A number of brokerages have commented on GXO. JPMorgan Chase & Co. reduced their target price on shares of GXO Logistics from $83.00 to $68.00 and set an “overweight” rating for the company in a report on Tuesday, July 12th. Oppenheimer lowered their target price on GXO Logistics from $91.00 to $78.00 in a research report on Wednesday, August 10th. Susquehanna lifted their target price on GXO Logistics from $61.00 to $65.00 in a research report on Thursday, August 4th. Susquehanna Bancshares increased their target price on shares of GXO Logistics from $61.00 to $65.00 in a report on Thursday, August 4th. Finally, Cowen increased their target price on shares of GXO Logistics from $64.00 to $67.00 and gave the stock an “outperform” rating in a report on Thursday, August 4th. Three analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $80.65.
GXO Logistics Stock Down 8.3 %
GXO Logistics (NYSE:GXO – Get Rating) last announced its quarterly earnings results on Tuesday, August 2nd. The company reported $0.68 EPS for the quarter, topping the consensus estimate of $0.63 by $0.05. The business had revenue of $2.16 billion for the quarter, compared to analysts’ expectations of $2.11 billion. GXO Logistics had a net margin of 2.55% and a return on equity of 12.25%. Analysts predict that GXO Logistics, Inc. will post 2.82 EPS for the current fiscal year.
Insider Buying and Selling at GXO Logistics
In other GXO Logistics news, Director S Jacobs Bradley sold 5,167,500 shares of the firm’s stock in a transaction that occurred on Thursday, August 11th. The stock was sold at an average price of $48.35, for a total transaction of $249,848,625.00. Following the completion of the transaction, the director now owns 1,300,701 shares in the company, valued at approximately $62,888,893.35. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 11.10% of the stock is currently owned by company insiders.
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, and other supply chain services, as well as reverse logistics or returns management services. As of December 31, 2021, it operated in approximately 906 facilities.
- Get a free copy of the StockNews.com research report on GXO Logistics (GXO)
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