Bank of New York Mellon Corp Sells 53,024 Shares of GXO Logistics, Inc. $GXO

Bank of New York Mellon Corp cut its stake in shares of GXO Logistics, Inc. (NYSE:GXO) by 6.5% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 761,046 shares of the company’s stock after selling 53,024 shares during the period. Bank of New York Mellon Corp owned about 0.67% of GXO Logistics worth $37,063,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Teacher Retirement System of Texas purchased a new stake in GXO Logistics during the first quarter valued at $683,000. Envestnet Asset Management Inc. boosted its position in GXO Logistics by 23.0% in the first quarter. Envestnet Asset Management Inc. now owns 59,883 shares of the company’s stock worth $2,340,000 after purchasing an additional 11,181 shares during the last quarter. Brown Advisory Inc. grew its stake in shares of GXO Logistics by 7.2% during the 1st quarter. Brown Advisory Inc. now owns 7,899 shares of the company’s stock valued at $309,000 after purchasing an additional 531 shares during the period. State of Michigan Retirement System increased its position in shares of GXO Logistics by 1.1% during the 1st quarter. State of Michigan Retirement System now owns 28,627 shares of the company’s stock valued at $1,119,000 after purchasing an additional 300 shares during the last quarter. Finally, Louisiana State Employees Retirement System lifted its stake in shares of GXO Logistics by 0.9% in the 1st quarter. Louisiana State Employees Retirement System now owns 33,500 shares of the company’s stock worth $1,309,000 after purchasing an additional 300 shares during the period. 90.67% of the stock is currently owned by hedge funds and other institutional investors.

GXO Logistics Trading Down 0.7%

Shares of GXO opened at $51.99 on Thursday. The firm has a market cap of $5.95 billion, a P/E ratio of 68.41, a price-to-earnings-growth ratio of 2.15 and a beta of 1.64. The company has a debt-to-equity ratio of 0.73, a current ratio of 0.71 and a quick ratio of 0.71. GXO Logistics, Inc. has a 1 year low of $30.46 and a 1 year high of $61.90. The company has a 50 day simple moving average of $52.84 and a two-hundred day simple moving average of $48.84.

GXO Logistics (NYSE:GXO) last issued its earnings results on Tuesday, November 4th. The company reported $0.79 earnings per share for the quarter, topping analysts’ consensus estimates of $0.78 by $0.01. The firm had revenue of $3.40 billion during the quarter, compared to analyst estimates of $3.39 billion. GXO Logistics had a net margin of 0.69% and a return on equity of 10.45%. GXO Logistics’s revenue for the quarter was up 7.5% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.79 earnings per share. GXO Logistics has set its FY 2025 guidance at 2.430-2.630 EPS. On average, equities analysts expect that GXO Logistics, Inc. will post 2.49 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on GXO shares. Deutsche Bank Aktiengesellschaft raised shares of GXO Logistics from a “hold” rating to a “buy” rating and set a $64.00 price objective on the stock in a report on Thursday, November 6th. The Goldman Sachs Group upgraded shares of GXO Logistics from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $52.00 to $68.00 in a research note on Wednesday, September 24th. Oppenheimer boosted their price objective on shares of GXO Logistics from $55.00 to $62.00 and gave the company an “outperform” rating in a research report on Thursday, August 7th. Weiss Ratings raised GXO Logistics from a “sell (d+)” rating to a “hold (c-)” rating in a report on Monday. Finally, UBS Group boosted their price target on GXO Logistics from $58.00 to $63.00 and gave the company a “buy” rating in a report on Friday, October 3rd. Eleven investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat, GXO Logistics presently has an average rating of “Moderate Buy” and a consensus price target of $61.77.

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.