GXO Logistics, Inc. (NYSE:GXO) Shares Bought by Comerica Bank

Comerica Bank increased its holdings in shares of GXO Logistics, Inc. (NYSE:GXOGet Rating) by 14.0% in the third quarter, Holdings Channel reports. The firm owned 53,725 shares of the company’s stock after acquiring an additional 6,597 shares during the period. Comerica Bank’s holdings in GXO Logistics were worth $1,784,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of GXO. Geneos Wealth Management Inc. acquired a new stake in shares of GXO Logistics in the first quarter worth $39,000. Ellevest Inc. increased its position in shares of GXO Logistics by 337.7% in the second quarter. Ellevest Inc. now owns 696 shares of the company’s stock worth $30,000 after acquiring an additional 537 shares in the last quarter. Wipfli Financial Advisors LLC acquired a new stake in GXO Logistics in the 3rd quarter valued at $30,000. Fifth Third Bancorp increased its holdings in GXO Logistics by 93.6% in the 3rd quarter. Fifth Third Bancorp now owns 904 shares of the company’s stock valued at $32,000 after purchasing an additional 437 shares in the last quarter. Finally, CWM LLC increased its holdings in GXO Logistics by 88.7% in the 3rd quarter. CWM LLC now owns 955 shares of the company’s stock valued at $33,000 after purchasing an additional 449 shares in the last quarter. Institutional investors and hedge funds own 99.47% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on GXO. Credit Suisse Group increased their target price on GXO Logistics from $57.00 to $63.00 and gave the company an “outperform” rating in a research note on Friday, January 13th. Cowen lowered their price objective on shares of GXO Logistics from $67.00 to $62.00 and set an “outperform” rating for the company in a research report on Tuesday, September 27th. Morgan Stanley increased their price objective on shares of GXO Logistics from $60.00 to $66.00 in a research report on Friday, January 13th. Deutsche Bank Aktiengesellschaft raised their price target on shares of GXO Logistics from $53.00 to $62.00 and gave the company a “buy” rating in a report on Friday, January 13th. Finally, Wells Fargo & Company raised their price target on shares of GXO Logistics from $58.00 to $70.00 and gave the company an “overweight” rating in a report on Friday, January 13th. Two research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $64.00.

Insider Activity

In other news, Director Gena L. Ashe sold 2,120 shares of GXO Logistics stock in a transaction dated Tuesday, January 17th. The shares were sold at an average price of $52.73, for a total value of $111,787.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, CEO Malcolm Wilson acquired 4,174 shares of the stock in a transaction that occurred on Friday, November 25th. The stock was purchased at an average cost of $43.97 per share, for a total transaction of $183,530.78. Following the purchase, the chief executive officer now directly owns 45,509 shares in the company, valued at $2,001,030.73. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Gena L. Ashe sold 2,120 shares of the stock in a transaction on Tuesday, January 17th. The stock was sold at an average price of $52.73, for a total value of $111,787.60. The disclosure for this sale can be found here. Company insiders own 11.10% of the company’s stock.

GXO Logistics Price Performance

Shares of GXO opened at $53.26 on Friday. The firm has a market cap of $6.32 billion, a price-to-earnings ratio of 30.09, a PEG ratio of 1.86 and a beta of 1.54. The stock has a 50 day moving average of $45.20 and a 200-day moving average of $42.86. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.69. GXO Logistics, Inc. has a 52 week low of $32.10 and a 52 week high of $88.34.

GXO Logistics (NYSE:GXOGet Rating) last released its quarterly earnings data on Tuesday, November 8th. The company reported $0.75 EPS for the quarter, topping analysts’ consensus estimates of $0.70 by $0.05. The firm had revenue of $2.29 billion during the quarter, compared to the consensus estimate of $2.29 billion. GXO Logistics had a net margin of 2.36% and a return on equity of 12.90%. As a group, analysts forecast that GXO Logistics, Inc. will post 2.76 EPS for the current year.

About GXO Logistics

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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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