William Blair Investment Management LLC Raises Stock Position in GXO Logistics, Inc. (NYSE:GXO)

William Blair Investment Management LLC lifted its position in GXO Logistics, Inc. (NYSE:GXO) by 56.0% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 681,004 shares of the company’s stock after buying an additional 244,339 shares during the period. William Blair Investment Management LLC owned approximately 0.38% of GXO Logistics worth $42,781,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of GXO. Citigroup Inc. grew its position in shares of GXO Logistics by 25.6% in the 1st quarter. Citigroup Inc. now owns 16,948 shares of the company’s stock worth $1,208,000 after buying an additional 3,457 shares during the last quarter. Bank of Montreal Can grew its position in shares of GXO Logistics by 175.7% in the 1st quarter. Bank of Montreal Can now owns 24,502 shares of the company’s stock worth $1,843,000 after buying an additional 15,615 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its position in GXO Logistics by 10.5% during the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 36,133 shares of the company’s stock worth $2,578,000 after purchasing an additional 3,445 shares during the last quarter. Raymond James Trust N.A. grew its position in GXO Logistics by 44.8% during the 1st quarter. Raymond James Trust N.A. now owns 5,979 shares of the company’s stock worth $427,000 after purchasing an additional 1,849 shares during the last quarter. Finally, Lord Abbett & CO. LLC grew its position in GXO Logistics by 2.5% during the 1st quarter. Lord Abbett & CO. LLC now owns 169,181 shares of the company’s stock worth $12,069,000 after purchasing an additional 4,084 shares during the last quarter. Hedge funds and other institutional investors own 90.67% of the company’s stock.

Wall Street Analyst Weigh In

GXO has been the topic of several research analyst reports. Wells Fargo & Company dropped their target price on shares of GXO Logistics from $75.00 to $65.00 and set an “overweight” rating on the stock in a research report on Thursday, November 9th. Citigroup boosted their target price on shares of GXO Logistics from $66.00 to $74.00 and gave the stock a “buy” rating in a research report on Thursday, August 31st. TD Cowen lifted their price objective on shares of GXO Logistics from $64.00 to $77.00 and gave the company an “outperform” rating in a research note on Friday, August 4th. Morgan Stanley decreased their price objective on shares of GXO Logistics from $78.00 to $75.00 and set an “overweight” rating for the company in a research note on Friday, November 10th. Finally, Credit Suisse Group restated an “outperform” rating and set a $81.00 price objective on shares of GXO Logistics in a research note on Friday, August 11th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and eleven have issued a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $67.47.

GXO Logistics Price Performance

Shares of NYSE GXO opened at $57.22 on Tuesday. The firm has a market cap of $6.81 billion, a PE ratio of 34.09, a PEG ratio of 2.56 and a beta of 1.75. The firm has a fifty day moving average of $55.19 and a 200 day moving average of $59.28. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.01 and a current ratio of 1.01. GXO Logistics, Inc. has a one year low of $40.94 and a one year high of $67.57.

GXO Logistics (NYSE:GXO) last issued its quarterly earnings results on Tuesday, November 7th. The company reported $0.69 EPS for the quarter, topping the consensus estimate of $0.65 by $0.04. The company had revenue of $2.47 billion during the quarter, compared to analyst estimates of $2.48 billion. GXO Logistics had a net margin of 2.09% and a return on equity of 11.76%. The firm’s revenue was up 8.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.75 EPS. As a group, research analysts predict that GXO Logistics, Inc. will post 2.59 EPS for the current fiscal year.

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, 2022, it operated in approximately 979 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.