Nicholas Hoffman & Company LLC. Reduces Stake in GXO Logistics, Inc. (NYSE:GXO)

Nicholas Hoffman & Company LLC. cut its holdings in shares of GXO Logistics, Inc. (NYSE:GXO) by 7.5% during the 1st quarter, Holdings Channel.com reports. The institutional investor owned 4,308 shares of the company’s stock after selling 350 shares during the quarter. Nicholas Hoffman & Company LLC.’s holdings in GXO Logistics were worth $232,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the stock. DekaBank Deutsche Girozentrale purchased a new position in shares of GXO Logistics during the third quarter valued at approximately $31,000. Headlands Technologies LLC bought a new position in GXO Logistics in the 4th quarter valued at approximately $59,000. CWM LLC boosted its stake in GXO Logistics by 28.1% during the 4th quarter. CWM LLC now owns 1,778 shares of the company’s stock valued at $109,000 after purchasing an additional 390 shares during the last quarter. First Horizon Advisors Inc. boosted 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 valued at $112,000 after purchasing an additional 861 shares during the last quarter. Finally, Quadrant Capital Group LLC increased its holdings in shares of GXO Logistics by 16.9% in the 4th quarter. Quadrant Capital Group LLC now owns 1,988 shares of the company’s stock worth $122,000 after purchasing an additional 287 shares in the last quarter. 90.67% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, Director Gena L. Ashe sold 4,737 shares of the business’s stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $50.00, for a total transaction of $236,850.00. Following the sale, the director now directly owns 20,851 shares of the company’s stock, valued at $1,042,550. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 2.00% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several research firms recently commented on GXO. Loop Capital reduced their price objective on GXO Logistics from $76.00 to $74.00 and set a “buy” rating for the company in a report on Thursday, April 18th. JPMorgan Chase & Co. cut their target price on shares of GXO Logistics from $67.00 to $65.00 and set an “overweight” rating for the company in a research report on Tuesday, April 9th. BNP Paribas upgraded GXO Logistics from an “underperform” rating to a “neutral” rating and set a $50.00 price target on the stock in a research note on Wednesday, March 27th. Stifel Nicolaus upped their price objective on GXO Logistics from $69.00 to $75.00 and gave the company a “buy” rating in a research report on Wednesday, January 10th. Finally, Citigroup cut their price target on GXO Logistics from $66.00 to $64.00 and set a “buy” rating for the company in a research note on Thursday, February 15th. One investment analyst has rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $69.69.

GXO Logistics Price Performance

Shares of GXO Logistics stock traded down $1.30 during trading hours on Tuesday, reaching $49.66. The company’s stock had a trading volume of 736,178 shares, compared to its average volume of 869,140. The stock has a market cap of $5.93 billion, a P/E ratio of 26.00, a P/E/G ratio of 2.12 and a beta of 1.64. GXO Logistics, Inc. has a one year low of $48.11 and a one year high of $67.57. The company has a debt-to-equity ratio of 0.55, a current ratio of 0.98 and a quick ratio of 0.98. The firm has a 50 day moving average price of $50.80 and a 200-day moving average price of $54.45.

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