Boyar Asset Management Inc. Makes New $211,000 Investment in GXO Logistics, Inc. $GXO

Boyar Asset Management Inc. bought a new position in GXO Logistics, Inc. (NYSE:GXO) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 4,338 shares of the company’s stock, valued at approximately $211,000.

Several other hedge funds also recently bought and sold shares of the company. Orbis Allan Gray Ltd increased its position in GXO Logistics by 6.5% in the 1st quarter. Orbis Allan Gray Ltd now owns 13,473,172 shares of the company’s stock worth $526,532,000 after purchasing an additional 818,353 shares during the last quarter. Vanguard Group Inc. increased its position in GXO Logistics by 0.3% in the 1st quarter. Vanguard Group Inc. now owns 11,370,657 shares of the company’s stock worth $444,365,000 after purchasing an additional 37,852 shares during the last quarter. Dimensional Fund Advisors LP increased its position in GXO Logistics by 29.0% in the 1st quarter. Dimensional Fund Advisors LP now owns 3,608,468 shares of the company’s stock worth $141,021,000 after purchasing an additional 810,298 shares during the last quarter. Kovitz Investment Group Partners LLC increased its position in GXO Logistics by 27.0% in the 1st quarter. Kovitz Investment Group Partners LLC now owns 3,330,176 shares of the company’s stock worth $130,143,000 after purchasing an additional 708,661 shares during the last quarter. Finally, Alliancebernstein L.P. boosted its stake in shares of GXO Logistics by 1,521.9% during the 1st quarter. Alliancebernstein L.P. now owns 2,511,289 shares of the company’s stock worth $98,141,000 after acquiring an additional 2,356,452 shares in the last quarter. 90.67% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on GXO shares. Oppenheimer upped their price target on GXO Logistics from $55.00 to $62.00 and gave the stock an “outperform” rating in a research note on Thursday, August 7th. Citigroup upped their price target on GXO Logistics from $56.00 to $59.00 and gave the stock a “buy” rating in a research note on Wednesday, July 9th. Susquehanna upped their price target on GXO Logistics from $58.00 to $60.00 and gave the stock a “positive” rating in a research note on Thursday, August 7th. Stifel Nicolaus upped their price target on GXO Logistics from $63.00 to $67.00 and gave the stock a “buy” rating in a research note on Monday, June 23rd. Finally, The Goldman Sachs Group upgraded GXO Logistics from a “neutral” rating to a “buy” rating and upped their price target for the stock from $52.00 to $68.00 in a research note on Wednesday, September 24th. Eleven analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $60.86.

GXO Logistics Stock Performance

GXO opened at $53.71 on Friday. The firm has a market capitalization of $6.15 billion, a P/E ratio of 101.34, a price-to-earnings-growth ratio of 2.16 and a beta of 1.64. The stock’s 50 day moving average price is $51.70 and its two-hundred day moving average price is $45.32. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 0.87. GXO Logistics, Inc. has a 12-month low of $30.46 and a 12-month high of $63.33.

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, beating analysts’ consensus estimates of $0.56 by $0.01. The firm had revenue of $3.30 billion for the quarter, compared to analyst estimates of $3.09 billion. GXO Logistics had a return on equity of 10.45% and a net margin of 0.50%.The company’s revenue was up 15.9% on a year-over-year basis. During the same quarter last year, the firm posted $0.55 EPS. On average, equities analysts forecast that GXO Logistics, Inc. will post 2.49 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.