Harvest Fund Management Co. Ltd Has $164,000 Stock Position in GXO Logistics, Inc. (NYSE:GXO)

Harvest Fund Management Co. Ltd reduced its position in shares of GXO Logistics, Inc. (NYSE:GXO) by 7.6% during the fourth quarter, Holdings Channel reports. The institutional investor owned 2,689 shares of the company’s stock after selling 220 shares during the period. Harvest Fund Management Co. Ltd’s holdings in GXO Logistics were worth $164,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the company. Clearbridge Investments LLC raised its stake in GXO Logistics by 0.4% during the 3rd quarter. Clearbridge Investments LLC now owns 2,865,806 shares of the company’s stock worth $168,080,000 after buying an additional 10,830 shares during the period. FMR LLC raised its stake in shares of GXO Logistics by 0.4% in the third quarter. FMR LLC now owns 2,173,881 shares of the company’s stock worth $127,498,000 after purchasing an additional 8,668 shares during the last quarter. Invesco Ltd. raised its stake in shares of GXO Logistics by 22.6% in the third quarter. Invesco Ltd. now owns 1,466,267 shares of the company’s stock worth $85,997,000 after purchasing an additional 270,524 shares during the last quarter. Fort Pitt Capital Group LLC raised its stake in shares of GXO Logistics by 0.3% in the third quarter. Fort Pitt Capital Group LLC now owns 1,149,398 shares of the company’s stock worth $67,412,000 after purchasing an additional 3,868 shares during the last quarter. Finally, Federated Hermes Inc. raised its stake in shares of GXO Logistics by 3.0% in the fourth quarter. Federated Hermes Inc. now owns 1,126,959 shares of the company’s stock worth $68,925,000 after purchasing an additional 33,320 shares during the last quarter. 90.67% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts have recently commented on the company. Susquehanna increased their price objective on GXO Logistics from $73.00 to $75.00 and gave the stock a “positive” rating in a research note on Thursday, February 15th. Stifel Nicolaus increased their price objective on GXO Logistics from $69.00 to $75.00 and gave the stock a “buy” rating in a research note on Wednesday, January 10th. Loop Capital lowered their price objective on GXO Logistics from $76.00 to $74.00 and set a “buy” rating for the company in a research note on Thursday, April 18th. BNP Paribas raised GXO Logistics from an “underperform” rating to a “neutral” rating and set a $50.00 price objective for the company in a research note on Wednesday, March 27th. Finally, TD Cowen upped their target price on GXO Logistics from $78.00 to $80.00 and gave the company a “buy” rating in a report on Thursday. One investment analyst has rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $69.69.

Insider Buying and Selling at GXO Logistics

In other GXO Logistics news, Director Gena L. Ashe sold 4,737 shares of the stock in a transaction on Thursday, March 7th. The stock was 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 directly owns 20,851 shares of the company’s stock, valued at $1,042,550. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 2.00% of the stock is owned by corporate insiders.

GXO Logistics Price Performance

Shares of NYSE GXO opened at $49.00 on Thursday. The stock has a fifty day simple moving average of $51.18 and a two-hundred day simple moving average of $54.60. GXO Logistics, Inc. has a 1-year low of $48.11 and a 1-year high of $67.57. The firm has a market cap of $5.85 billion, a price-to-earnings ratio of 25.71, a price-to-earnings-growth ratio of 2.11 and a beta of 1.64. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 0.55.

GXO Logistics (NYSE:GXO) last announced its quarterly earnings data 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 return on equity of 10.94% and a net margin of 2.34%. The business had revenue of $2.59 billion during the quarter, compared to analyst estimates of $2.55 billion. During the same period in the prior year, the company earned $0.83 earnings per share. GXO Logistics’s revenue was up 5.0% compared to the same quarter last year. Analysts anticipate that GXO Logistics, Inc. will post 2.78 earnings per share for the current year.

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.