Retirement Systems of Alabama Sells 7,073 Shares of GXO Logistics, Inc. (NYSE:GXO)

Retirement Systems of Alabama trimmed its stake in GXO Logistics, Inc. (NYSE:GXO) by 2.3% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 299,850 shares of the company’s stock after selling 7,073 shares during the period. Retirement Systems of Alabama’s holdings in GXO Logistics were worth $18,339,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the stock. DekaBank Deutsche Girozentrale purchased a new position in GXO Logistics during the 3rd quarter worth $31,000. Headlands Technologies LLC purchased a new position in GXO Logistics during the 4th quarter worth $59,000. CWM LLC grew its stake in GXO Logistics by 28.1% during the 4th quarter. CWM LLC now owns 1,778 shares of the company’s stock worth $109,000 after buying an additional 390 shares during the last quarter. First Horizon Advisors Inc. grew its stake in GXO Logistics by 81.9% during the 3rd quarter. First Horizon Advisors Inc. now owns 1,912 shares of the company’s stock worth $112,000 after buying an additional 861 shares during the last quarter. Finally, U S Global Investors Inc. grew its stake in GXO Logistics by 42.5% during the 4th quarter. U S Global Investors Inc. now owns 2,472 shares of the company’s stock worth $151,000 after buying an additional 737 shares during the last quarter. 90.67% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on GXO shares. Stifel Nicolaus increased their price objective on GXO Logistics from $69.00 to $75.00 and gave the company a “buy” rating in a report on Wednesday, January 10th. TD Cowen increased their price objective on GXO Logistics from $78.00 to $80.00 and gave the company a “buy” rating in a report on Thursday, April 25th. JPMorgan Chase & Co. cut their price objective on GXO Logistics from $67.00 to $65.00 and set an “overweight” rating on the stock in a report on Tuesday, April 9th. Susquehanna increased their price objective on GXO Logistics from $73.00 to $75.00 and gave the company a “positive” rating in a report on Thursday, February 15th. Finally, Loop Capital cut their price objective on GXO Logistics from $76.00 to $74.00 and set a “buy” rating on the stock in a report on Thursday, April 18th. One investment analyst has rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $69.69.

Insider Buying and Selling at GXO Logistics

In other GXO Logistics news, Director Gena L. Ashe sold 4,737 shares of GXO Logistics stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $50.00, for a total value of $236,850.00. Following the transaction, the director now owns 20,851 shares in the company, valued at approximately $1,042,550. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 2.00% of the stock is owned by company insiders.

GXO Logistics Price Performance

GXO stock opened at $49.66 on Wednesday. The business has a fifty day moving average of $50.80 and a two-hundred day moving average of $54.45. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.55. The stock has a market cap of $5.93 billion, a price-to-earnings ratio of 26.00, a price-to-earnings-growth ratio of 2.14 and a beta of 1.64. GXO Logistics, Inc. has a 52-week low of $48.11 and a 52-week high of $67.57.

GXO Logistics (NYSE:GXO) last issued its quarterly earnings results on Tuesday, February 13th. The company reported $0.70 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.69 by $0.01. GXO Logistics had a return on equity of 10.94% and a net margin of 2.34%. The firm had revenue of $2.59 billion for the quarter, compared to analysts’ expectations of $2.55 billion. During the same quarter in the previous year, the firm posted $0.83 EPS. The firm’s revenue for the quarter was up 5.0% on a year-over-year basis. As a group, research analysts anticipate that GXO Logistics, Inc. will post 2.78 earnings per share for the current year.

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.