Boyar Asset Management Inc. Buys New Position in GXO Logistics, Inc. $GXO

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

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

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on GXO shares. JPMorgan Chase & Co. upped their target price on GXO Logistics from $56.00 to $65.00 and gave the company an “overweight” rating in a report on Thursday, August 7th. Wells Fargo & Company upped their target price on GXO Logistics from $57.00 to $60.00 and gave the company an “overweight” rating in a report on Thursday, August 7th. Susquehanna upped their target price on GXO Logistics from $58.00 to $60.00 and gave the company a “positive” rating in a report on Thursday, August 7th. Citigroup upped their target price on GXO Logistics from $56.00 to $59.00 and gave the company a “buy” rating in a report on Wednesday, July 9th. Finally, Stifel Nicolaus upped their target price on GXO Logistics from $63.00 to $67.00 and gave the company a “buy” rating in a report on Monday, June 23rd. Eleven research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $60.86.

GXO Logistics Stock Down 0.2%

NYSE:GXO opened at $53.71 on Friday. The firm has a market capitalization of $6.15 billion, a price-to-earnings ratio of 101.34, a PEG ratio of 2.16 and a beta of 1.64. GXO Logistics, Inc. has a 1-year low of $30.46 and a 1-year high of $63.33. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 0.87. The business’s fifty day moving average price is $51.70 and its 200 day moving average price is $45.32.

GXO Logistics (NYSE:GXO) last posted its quarterly earnings results on Tuesday, August 5th. The company reported $0.57 earnings per share for the quarter, beating the consensus estimate 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%.GXO Logistics’s quarterly revenue was up 15.9% on a year-over-year basis. During the same period in the previous year, the firm earned $0.55 earnings per share. On average, sell-side analysts forecast that GXO Logistics, Inc. will post 2.49 earnings per share for the current fiscal year.

About GXO Logistics

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.