William Blair Investment Management LLC Decreases Stock Holdings in GXO Logistics, Inc. (NYSE:GXO)

William Blair Investment Management LLC reduced its stake in shares of GXO Logistics, Inc. (NYSE:GXO) by 24.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 356,910 shares of the company’s stock after selling 113,594 shares during the quarter. William Blair Investment Management LLC owned 0.30% of GXO Logistics worth $15,526,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in GXO. R Squared Ltd acquired a new position in shares of GXO Logistics during the 4th quarter worth $54,000. Nomura Asset Management Co. Ltd. increased its holdings in GXO Logistics by 33.3% during the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 1,160 shares of the company’s stock valued at $60,000 after acquiring an additional 290 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. raised its position in GXO Logistics by 213.5% during the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 1,370 shares of the company’s stock worth $60,000 after acquiring an additional 933 shares during the last quarter. Wilmington Savings Fund Society FSB purchased a new stake in shares of GXO Logistics in the third quarter valued at about $71,000. Finally, Brooklyn Investment Group acquired a new stake in shares of GXO Logistics in the third quarter valued at approximately $106,000. 90.67% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts recently issued reports on the company. Morgan Stanley cut their price objective on GXO Logistics from $63.00 to $57.00 and set an “overweight” rating for the company in a research report on Friday, February 14th. Stifel Nicolaus restated a “buy” rating and issued a $66.00 price objective (down from $74.00) on shares of GXO Logistics in a research report on Friday, February 14th. Wells Fargo & Company decreased their price objective on GXO Logistics from $60.00 to $44.00 and set an “overweight” rating on the stock in a research note on Friday, February 14th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of GXO Logistics in a research note on Friday, March 7th. They issued a “hold” rating and a $45.00 target price for the company. Finally, Oppenheimer decreased their price target on shares of GXO Logistics from $67.00 to $55.00 and set an “outperform” rating on the stock in a research note on Tuesday, February 18th. Six investment analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $55.60.

GXO Logistics Stock Performance

Shares of GXO stock opened at $40.82 on Thursday. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.86 and a current ratio of 0.83. The firm has a market capitalization of $4.88 billion, a price-to-earnings ratio of 36.44, a price-to-earnings-growth ratio of 1.34 and a beta of 1.62. GXO Logistics, Inc. has a one year low of $34.51 and a one year high of $63.33. The company has a 50 day moving average price of $41.84 and a 200 day moving average price of $49.25.

GXO Logistics (NYSE:GXO) last announced its quarterly earnings data on Wednesday, February 12th. The company reported $1.00 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.94 by $0.06. GXO Logistics had a net margin of 1.14% and a return on equity of 11.16%. Sell-side analysts anticipate that GXO Logistics, Inc. will post 2.49 EPS for the current year.

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.