Zions Bancorporation N.A. Invests $809,000 in GXO Logistics, Inc. (NYSE:GXO)

Zions Bancorporation N.A. bought a new stake in GXO Logistics, Inc. (NYSE:GXO) during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 18,597 shares of the company’s stock, valued at approximately $809,000.

Several other institutional investors have also recently bought and sold shares of GXO. Vaughan Nelson Investment Management L.P. bought a new position in shares of GXO Logistics during the 4th quarter worth approximately $47,626,000. River Road Asset Management LLC grew its position in GXO Logistics by 53.5% in the fourth quarter. River Road Asset Management LLC now owns 2,008,168 shares of the company’s stock valued at $87,355,000 after purchasing an additional 699,636 shares in the last quarter. Raymond James Financial Inc. bought a new position in GXO Logistics in the fourth quarter valued at $20,905,000. Life Planning Partners Inc increased its stake in GXO Logistics by 4,250.0% in the 4th quarter. Life Planning Partners Inc now owns 263,393 shares of the company’s stock valued at $11,458,000 after buying an additional 257,338 shares during the last quarter. Finally, Swedbank AB lifted its position in GXO Logistics by 13.9% during the 4th quarter. Swedbank AB now owns 2,050,000 shares of the company’s stock worth $89,175,000 after buying an additional 250,000 shares in the last quarter. Institutional investors own 90.67% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on GXO. Wells Fargo & Company lowered their target price on GXO Logistics from $60.00 to $44.00 and set an “overweight” rating on the stock in a research report on Friday, February 14th. Stifel Nicolaus reaffirmed a “buy” rating and set a $66.00 price target (down previously from $74.00) on shares of GXO Logistics in a research report on Friday, February 14th. The Goldman Sachs Group cut their price objective on GXO Logistics from $63.00 to $54.00 and set a “neutral” rating for the company in a report on Thursday, January 16th. Deutsche Bank Aktiengesellschaft started coverage on shares of GXO Logistics in a report on Friday, March 7th. They set a “hold” rating and a $45.00 target price on the stock. Finally, Morgan Stanley cut their price target on shares of GXO Logistics from $63.00 to $57.00 and set an “overweight” rating for the company in a research note on Friday, February 14th. Six research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, GXO Logistics presently has a consensus rating of “Moderate Buy” and a consensus target price of $55.60.

GXO Logistics Trading Down 0.9 %

Shares of GXO stock opened at $39.93 on Thursday. GXO Logistics, Inc. has a 12-month low of $34.51 and a 12-month high of $63.33. The company has a market capitalization of $4.77 billion, a PE ratio of 35.65, a price-to-earnings-growth ratio of 1.34 and a beta of 1.62. The firm has a 50 day moving average price of $41.49 and a two-hundred day moving average price of $48.96. The company has a quick ratio of 0.86, a current ratio of 0.83 and a debt-to-equity ratio of 0.83.

GXO Logistics (NYSE:GXO) last released its quarterly earnings results on Wednesday, February 12th. The company reported $1.00 earnings per share for the quarter, topping the consensus estimate of $0.94 by $0.06. GXO Logistics had a return on equity of 11.16% and a net margin of 1.14%. As a group, analysts predict that GXO Logistics, Inc. will post 2.49 earnings per share for the current year.

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.