California Public Employees Retirement System Has $8.39 Million Stock Holdings in GXO Logistics, Inc. (NYSE:GXO)

California Public Employees Retirement System cut its position in shares of GXO Logistics, Inc. (NYSE:GXOGet Rating) by 3.1% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 193,899 shares of the company’s stock after selling 6,162 shares during the quarter. California Public Employees Retirement System’s holdings in GXO Logistics were worth $8,390,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in the company. Principal Financial Group Inc. grew its position in GXO Logistics by 19.6% during the second quarter. Principal Financial Group Inc. now owns 401,449 shares of the company’s stock worth $17,371,000 after buying an additional 65,697 shares in the last quarter. First Washington CORP acquired a new stake in GXO Logistics during the second quarter worth about $3,570,000. WINTON GROUP Ltd grew its position in GXO Logistics by 29.9% during the second quarter. WINTON GROUP Ltd now owns 75,490 shares of the company’s stock worth $3,266,000 after buying an additional 17,386 shares in the last quarter. Swiss National Bank grew its position in GXO Logistics by 2.8% during the second quarter. Swiss National Bank now owns 250,913 shares of the company’s stock worth $10,857,000 after buying an additional 6,913 shares in the last quarter. Finally, Lazard Asset Management LLC acquired a new stake in GXO Logistics during the second quarter worth about $216,000. 83.54% of the stock is owned by institutional investors and hedge funds.

GXO Logistics Stock Performance

NYSE:GXO opened at $42.61 on Wednesday. GXO Logistics, Inc. has a 1 year low of $32.10 and a 1 year high of $102.57. The firm has a 50 day moving average of $37.90 and a 200-day moving average of $44.34. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.69. The stock has a market capitalization of $5.06 billion, a P/E ratio of 24.07, a price-to-earnings-growth ratio of 1.26 and a beta of 1.30.

Wall Street Analyst Weigh In

A number of brokerages have commented on GXO. Oppenheimer cut their price target on shares of GXO Logistics from $91.00 to $78.00 in a research note on Wednesday, August 10th. Susquehanna cut their price target on shares of GXO Logistics from $55.00 to $54.00 in a research note on Thursday, November 10th. Wells Fargo & Company cut their price target on shares of GXO Logistics from $78.00 to $70.00 and set an “overweight” rating for the company in a research note on Thursday, November 10th. Barclays cut their price target on shares of GXO Logistics from $52.00 to $40.00 and set an “equal weight” rating for the company in a research note on Thursday, October 13th. Finally, Susquehanna Bancshares cut their price target on shares of GXO Logistics from $55.00 to $54.00 in a research note on Thursday, November 10th. Two research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $64.50.

GXO Logistics Company Profile

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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.

Further Reading

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Institutional Ownership by Quarter for GXO Logistics (NYSE:GXO)

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