Mirae Asset Global Investments Co. Ltd. Acquires 1,595 Shares of GXO Logistics, Inc. (NYSE:GXO)

Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of GXO Logistics, Inc. (NYSE:GXO) by 6.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 25,938 shares of the company’s stock after acquiring an additional 1,595 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in GXO Logistics were worth $1,586,000 as of its most recent filing with the SEC.

Other hedge funds have also bought and sold shares of the company. Tritonpoint Wealth LLC bought a new position in GXO Logistics in the 4th quarter valued at about $6,433,000. International Assets Investment Management LLC bought a new position in GXO Logistics in the 4th quarter valued at about $554,000. U S Global Investors Inc. increased its holdings in GXO Logistics by 42.5% in the 4th quarter. U S Global Investors Inc. now owns 2,472 shares of the company’s stock valued at $151,000 after buying an additional 737 shares during the period. Oak Thistle LLC bought a new position in GXO Logistics in the 4th quarter valued at about $425,000. Finally, Foster Victor Wealth Advisors LLC increased its holdings in GXO Logistics by 5.1% in the 4th quarter. Foster Victor Wealth Advisors LLC now owns 60,156 shares of the company’s stock valued at $3,610,000 after buying an additional 2,893 shares during the period. 90.67% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms have commented on GXO. Stifel Nicolaus raised their target price on shares of GXO Logistics from $69.00 to $75.00 and gave the company a “buy” rating in a report on Wednesday, January 10th. Citigroup reduced their price target on shares of GXO Logistics from $66.00 to $64.00 and set a “buy” rating on the stock in a research note on Thursday, February 15th. Loop Capital reduced their price target on shares of GXO Logistics from $76.00 to $74.00 and set a “buy” rating on the stock in a research note on Thursday. TD Cowen raised their price target on shares of GXO Logistics from $70.00 to $78.00 and gave the company an “outperform” rating in a research note on Thursday, February 15th. Finally, JPMorgan Chase & Co. reduced their price target on shares of GXO Logistics from $67.00 to $65.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 9th. One research analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $69.54.

GXO Logistics Stock Up 3.3 %

NYSE:GXO opened at $49.73 on Friday. The company has a debt-to-equity ratio of 0.55, a current ratio of 0.98 and a quick ratio of 0.98. GXO Logistics, Inc. has a one year low of $48.11 and a one year high of $67.57. The firm’s 50 day simple moving average is $51.53 and its 200 day simple moving average is $54.72. The company has a market cap of $5.94 billion, a PE ratio of 26.04, a P/E/G ratio of 2.03 and a beta of 1.64.

GXO Logistics (NYSE:GXO) last released its quarterly earnings results on Tuesday, February 13th. The company reported $0.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.69 by $0.01. GXO Logistics had a net margin of 2.34% and a return on equity of 10.94%. The firm had revenue of $2.59 billion during the quarter, compared to analyst estimates of $2.55 billion. During the same quarter last year, the business earned $0.83 EPS. The company’s revenue was up 5.0% compared to the same quarter last year. On average, research analysts anticipate that GXO Logistics, Inc. will post 2.77 earnings per share for the current year.

Insiders Place Their Bets

In other GXO Logistics news, Director Gena L. Ashe sold 4,737 shares of the firm’s stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $50.00, for a total transaction of $236,850.00. Following the completion of the transaction, the director now owns 20,851 shares in the company, valued at approximately $1,042,550. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 2.00% of the company’s stock.

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.