AMI Asset Management Corp Cuts Stake in GXO Logistics, Inc. $GXO

AMI Asset Management Corp trimmed its position in shares of GXO Logistics, Inc. (NYSE:GXO) by 40.7% during the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 15,659 shares of the company’s stock after selling 10,736 shares during the quarter. AMI Asset Management Corp’s holdings in GXO Logistics were worth $763,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. GAMMA Investing LLC lifted its stake in GXO Logistics by 6,034.9% during the 1st quarter. GAMMA Investing LLC now owns 32,515 shares of the company’s stock valued at $12,710,000 after acquiring an additional 31,985 shares during the period. Fifth Third Wealth Advisors LLC bought a new position in GXO Logistics during the 1st quarter valued at about $426,000. Gilman Hill Asset Management LLC lifted its stake in GXO Logistics by 13.6% during the 1st quarter. Gilman Hill Asset Management LLC now owns 98,168 shares of the company’s stock valued at $3,836,000 after acquiring an additional 11,783 shares during the period. Thurston Springer Miller Herd & Titak Inc. lifted its stake in GXO Logistics by 35.0% during the 1st quarter. Thurston Springer Miller Herd & Titak Inc. now owns 1,849 shares of the company’s stock valued at $72,000 after acquiring an additional 479 shares during the period. Finally, Reinhart Partners LLC. lifted its stake in GXO Logistics by 21.0% during the 1st quarter. Reinhart Partners LLC. now owns 726,022 shares of the company’s stock valued at $28,373,000 after acquiring an additional 125,886 shares during the period. 90.67% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on GXO shares. JPMorgan Chase & Co. upped their target price on shares of GXO Logistics from $56.00 to $65.00 and gave the company an “overweight” rating in a research note on Thursday, August 7th. The Goldman Sachs Group upgraded shares of GXO Logistics from a “neutral” rating to a “buy” rating and upped their target price for the company from $52.00 to $68.00 in a research note on Wednesday, September 24th. Susquehanna upped their target price on shares of GXO Logistics from $58.00 to $60.00 and gave the company a “positive” rating in a research note on Thursday, August 7th. Truist Financial upgraded shares of GXO Logistics from a “hold” rating to a “buy” rating and increased their price objective for the stock from $48.00 to $62.00 in a research note on Friday, July 11th. Finally, Wells Fargo & Company increased their price objective on shares of GXO Logistics from $57.00 to $60.00 and gave the stock an “overweight” rating in a research note on Thursday, August 7th. Eleven research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $60.50.

GXO Logistics Price Performance

Shares of NYSE:GXO opened at $53.15 on Thursday. The firm’s 50 day moving average price is $51.64 and its 200-day moving average price is $45.14. GXO Logistics, Inc. has a twelve month low of $30.46 and a twelve month high of $63.33. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 0.87. The stock has a market capitalization of $6.08 billion, a PE ratio of 100.29, a price-to-earnings-growth ratio of 2.12 and a beta of 1.64.

GXO Logistics (NYSE:GXO) last released its earnings results on Tuesday, August 5th. The company reported $0.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.56 by $0.01. The company had revenue of $3.30 billion during the quarter, compared to analyst estimates of $3.09 billion. GXO Logistics had a net margin of 0.50% and a return on equity of 10.45%. The firm’s quarterly revenue was up 15.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.55 EPS. Equities research analysts expect that GXO Logistics, Inc. will post 2.49 EPS 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.