Corebridge Financial Inc. Sells 6,074 Shares of GXO Logistics, Inc. (NYSE:GXO)

Corebridge Financial Inc. trimmed its stake in GXO Logistics, Inc. (NYSE:GXO) by 4.3% in the 4th quarter, HoldingsChannel reports. The firm owned 135,184 shares of the company’s stock after selling 6,074 shares during the period. Corebridge Financial Inc.’s holdings in GXO Logistics were worth $5,881,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently bought and sold shares of GXO. Arizona State Retirement System increased its position in GXO Logistics by 0.8% in the fourth quarter. Arizona State Retirement System now owns 34,671 shares of the company’s stock worth $1,508,000 after buying an additional 281 shares in the last quarter. Nomura Asset Management Co. Ltd. grew its stake in shares of 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 during the period. Pacer Advisors Inc. increased its holdings in GXO Logistics by 1.1% in the 4th quarter. Pacer Advisors Inc. now owns 30,815 shares of the company’s stock worth $1,340,000 after acquiring an additional 338 shares in the last quarter. Whittier Trust Co. of Nevada Inc. raised its stake in GXO Logistics by 33.7% during the 4th quarter. Whittier Trust Co. of Nevada Inc. now owns 1,380 shares of the company’s stock worth $60,000 after acquiring an additional 348 shares during the period. Finally, Stablepoint Partners LLC lifted its holdings in GXO Logistics by 4.2% during the fourth quarter. Stablepoint Partners LLC now owns 15,916 shares of the company’s stock valued at $692,000 after purchasing an additional 637 shares in the last quarter. 90.67% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the stock. Wells Fargo & Company reduced their price objective on shares of GXO Logistics from $60.00 to $44.00 and set an “overweight” rating for the company in a research note on Friday, February 14th. UBS Group cut their price target on GXO Logistics from $72.00 to $50.00 and set a “buy” rating for the company in a research note on Friday, February 14th. Morgan Stanley lowered their price objective on GXO Logistics from $63.00 to $57.00 and set an “overweight” rating on the stock in a research report on Friday, February 14th. The Goldman Sachs Group cut their target price on GXO Logistics from $63.00 to $54.00 and set a “neutral” rating for the company in a research report on Thursday, January 16th. Finally, Barclays lowered their price target on GXO Logistics from $52.00 to $45.00 and set an “equal weight” rating on the stock in a report on Thursday, February 13th. Five equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $56.00.

GXO Logistics Trading Down 1.8 %

GXO stock opened at $39.33 on Friday. The firm has a fifty day moving average price of $41.31 and a 200 day moving average price of $48.83. GXO Logistics, Inc. has a fifty-two week low of $34.51 and a fifty-two week high of $63.33. The firm has a market cap of $4.70 billion, a PE ratio of 35.12, a price-to-earnings-growth ratio of 1.34 and a beta of 1.62. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.86 and a current ratio of 0.83.

GXO Logistics (NYSE:GXO) last issued its quarterly earnings data on Wednesday, February 12th. The company reported $1.00 EPS for the quarter, topping analysts’ consensus estimates 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 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.