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

Bank of New York Mellon Corp reduced its position in shares of GXO Logistics, Inc. (NYSE:GXO) by 6.5% in the second quarter, Holdings Channel reports. The fund owned 761,046 shares of the company’s stock after selling 53,024 shares during the quarter. Bank of New York Mellon Corp’s holdings in GXO Logistics were worth $37,063,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Larson Financial Group LLC raised its stake in GXO Logistics by 2,460.7% during the first quarter. Larson Financial Group LLC now owns 717 shares of the company’s stock valued at $28,000 after purchasing an additional 689 shares in the last quarter. Northwestern Mutual Wealth Management Co. increased its holdings in shares of GXO Logistics by 72.1% in the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 945 shares of the company’s stock worth $37,000 after buying an additional 396 shares during the last quarter. Hantz Financial Services Inc. raised its position in shares of GXO Logistics by 1,964.4% during the 2nd quarter. Hantz Financial Services Inc. now owns 929 shares of the company’s stock valued at $45,000 after buying an additional 884 shares in the last quarter. GAMMA Investing LLC lifted its holdings in shares of GXO Logistics by 34.0% in the 2nd quarter. GAMMA Investing LLC now owns 1,115 shares of the company’s stock valued at $54,000 after acquiring an additional 283 shares during the last quarter. Finally, Covestor Ltd grew its position in GXO Logistics by 63.2% in the first quarter. Covestor Ltd now owns 1,645 shares of the company’s stock worth $64,000 after acquiring an additional 637 shares in the last quarter. 90.67% of the stock is owned by hedge funds and other institutional investors.

GXO Logistics Price Performance

Shares of GXO stock opened at $51.99 on Thursday. The company has a market capitalization of $5.95 billion, a P/E ratio of 68.41, a P/E/G ratio of 2.15 and a beta of 1.64. The company’s 50-day simple moving average is $52.84 and its two-hundred day simple moving average is $48.84. GXO Logistics, Inc. has a one year low of $30.46 and a one year high of $61.90. 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 (NYSE:GXO) last posted its quarterly earnings results on Tuesday, November 4th. The company reported $0.79 earnings per share for the quarter, beating the consensus estimate of $0.78 by $0.01. The firm had revenue of $3.40 billion during the quarter, compared to the consensus estimate of $3.39 billion. GXO Logistics had a net margin of 0.69% and a return on equity of 10.45%. The company’s revenue was up 7.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.79 earnings per share. GXO Logistics has set its FY 2025 guidance at 2.430-2.630 EPS. As a group, equities analysts anticipate that GXO Logistics, Inc. will post 2.49 EPS for the current year.

Wall Street Analyst Weigh In

GXO has been the topic of a number of recent research reports. The Goldman Sachs Group upgraded GXO Logistics from a “neutral” rating to a “buy” rating and upped their price objective for the company from $52.00 to $68.00 in a research report on Wednesday, September 24th. Morgan Stanley cut their target price on GXO Logistics from $60.00 to $58.00 and set an “overweight” rating on the stock in a research report on Monday, October 6th. Oppenheimer raised their price target on GXO Logistics from $55.00 to $62.00 and gave the stock an “outperform” rating in a research report on Thursday, August 7th. JPMorgan Chase & Co. boosted their price objective on shares of GXO Logistics from $66.00 to $67.00 and gave the company an “overweight” rating in a research report on Thursday, November 6th. Finally, Truist Financial set a $65.00 target price on shares of GXO Logistics in a research note on Tuesday, October 14th. Eleven equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, GXO Logistics currently has a consensus rating of “Moderate Buy” and a consensus price target of $61.77.

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.