Sumitomo Mitsui DS Asset Management Company Ltd Increases Stock Position in GXO Logistics, Inc. (NYSE:GXO)

Sumitomo Mitsui DS Asset Management Company Ltd boosted its stake in GXO Logistics, Inc. (NYSE:GXO) by 32.5% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 48,944 shares of the company’s stock after purchasing an additional 12,015 shares during the quarter. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in GXO Logistics were worth $2,993,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of GXO. DnB Asset Management AS lifted its stake in GXO Logistics by 13.6% in the 3rd quarter. DnB Asset Management AS now owns 15,824 shares of the company’s stock worth $928,000 after purchasing an additional 1,891 shares in the last quarter. WASHINGTON TRUST Co raised its position in shares of GXO Logistics by 12,052.9% during the 3rd quarter. WASHINGTON TRUST Co now owns 157,866 shares of the company’s stock valued at $9,259,000 after buying an additional 156,567 shares in the last quarter. Ballentine Partners LLC purchased a new stake in shares of GXO Logistics during the 3rd quarter valued at about $332,000. Northcape Capital Pty Ltd raised its position in shares of GXO Logistics by 5.0% during the 3rd quarter. Northcape Capital Pty Ltd now owns 38,119 shares of the company’s stock valued at $2,236,000 after buying an additional 1,801 shares in the last quarter. Finally, Commonwealth Equity Services LLC raised its position in shares of GXO Logistics by 1.4% during the 3rd quarter. Commonwealth Equity Services LLC now owns 14,856 shares of the company’s stock valued at $871,000 after buying an additional 212 shares in the last quarter. Hedge funds and other institutional investors own 90.67% of the company’s stock.

GXO Logistics Stock Performance

GXO Logistics stock opened at $50.16 on Wednesday. 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 1-year low of $48.11 and a 1-year high of $67.57. The firm has a market capitalization of $5.99 billion, a P/E ratio of 26.26, a price-to-earnings-growth ratio of 2.09 and a beta of 1.64. The company’s 50-day moving average is $51.29 and its 200 day moving average is $54.64.

GXO Logistics (NYSE:GXO) last posted its quarterly earnings results on Tuesday, February 13th. The company reported $0.70 earnings per share for the quarter, beating 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 the consensus estimate of $2.55 billion. During the same quarter in the previous year, the firm posted $0.83 earnings per share. The company’s revenue was up 5.0% on a year-over-year basis. Research analysts forecast that GXO Logistics, Inc. will post 2.78 EPS for the current year.

Insider Activity

In other news, Director Gena L. Ashe sold 4,737 shares of GXO Logistics 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 sale, the director now owns 20,851 shares of the company’s stock, valued at $1,042,550. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 2.00% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on GXO shares. Stifel Nicolaus upped their target price on shares of GXO Logistics from $69.00 to $75.00 and gave the company a “buy” rating in a research report on Wednesday, January 10th. TD Cowen upped their target price on shares of GXO Logistics from $70.00 to $78.00 and gave the company an “outperform” rating in a research report on Thursday, February 15th. Loop Capital decreased their target price on shares of GXO Logistics from $76.00 to $74.00 and set a “buy” rating on the stock in a research report on Thursday, April 18th. Susquehanna upped their target price on shares of GXO Logistics from $73.00 to $75.00 and gave the company a “positive” rating in a research report on Thursday, February 15th. Finally, JPMorgan Chase & Co. decreased their target price on shares of GXO Logistics from $67.00 to $65.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 9th. One equities research analyst has rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat, GXO Logistics currently has an average rating of “Moderate Buy” and a consensus price target of $69.54.

GXO Logistics 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.