State of New Jersey Common Pension Fund D Sells 2,702 Shares of GXO Logistics, Inc. $GXO

State of New Jersey Common Pension Fund D cut its position in shares of GXO Logistics, Inc. (NYSE:GXO) by 5.5% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 46,585 shares of the company’s stock after selling 2,702 shares during the period. State of New Jersey Common Pension Fund D’s holdings in GXO Logistics were worth $2,269,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in GXO. GAMMA Investing LLC raised its holdings in shares of GXO Logistics by 57.0% in the first quarter. GAMMA Investing LLC now owns 832 shares of the company’s stock worth $33,000 after buying an additional 302 shares during the period. Janney Montgomery Scott LLC grew its stake in GXO Logistics by 13.7% in the first quarter. Janney Montgomery Scott LLC now owns 17,243 shares of the company’s stock worth $674,000 after purchasing an additional 2,076 shares in the last quarter. Cambridge Investment Research Advisors Inc. grew its stake in GXO Logistics by 2.3% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 38,679 shares of the company’s stock worth $1,512,000 after purchasing an additional 886 shares in the last quarter. Golden State Wealth Management LLC bought a new position in GXO Logistics in the first quarter worth approximately $34,000. Finally, KBC Group NV grew its stake in GXO Logistics by 20.0% in the first quarter. KBC Group NV now owns 5,821 shares of the company’s stock worth $227,000 after purchasing an additional 969 shares in the last quarter. 90.67% of the stock is currently owned by hedge funds and other institutional investors.

GXO Logistics Stock Performance

NYSE GXO opened at $54.30 on Wednesday. The stock has a 50-day simple moving average of $52.74 and a two-hundred day simple moving average of $47.40. The firm has a market capitalization of $6.22 billion, a P/E ratio of 102.45, a PEG ratio of 2.23 and a beta of 1.64. GXO Logistics, Inc. has a fifty-two week low of $30.46 and a fifty-two week high of $62.07. The company has a debt-to-equity ratio of 0.87, a quick ratio of 0.76 and a current ratio of 0.76.

GXO Logistics (NYSE:GXO) last released its quarterly earnings data on Tuesday, August 5th. The company reported $0.57 earnings per share for the quarter, beating analysts’ consensus estimates of $0.56 by $0.01. The business had revenue of $3.30 billion during 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 business posted $0.55 EPS. On average, equities analysts forecast that GXO Logistics, Inc. will post 2.49 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on GXO shares. JPMorgan Chase & Co. increased their price objective on GXO Logistics from $65.00 to $66.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 8th. Morgan Stanley dropped their price objective on GXO Logistics from $60.00 to $58.00 and set an “overweight” rating on the stock in a research note on Monday, October 6th. The Goldman Sachs Group raised GXO Logistics from a “neutral” rating to a “buy” rating and increased their target price for the company from $52.00 to $68.00 in a research report on Wednesday, September 24th. UBS Group increased their target price on GXO Logistics from $58.00 to $63.00 and gave the company a “buy” rating in a research report on Friday, October 3rd. Finally, Susquehanna raised their price objective on GXO Logistics from $58.00 to $60.00 and gave the stock a “positive” rating in a research report on Thursday, August 7th. Eleven investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $61.57.

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.