Retirement Systems of Alabama Has $14.23 Million Holdings in GXO Logistics, Inc. (NYSE:GXO)

Retirement Systems of Alabama raised its stake in GXO Logistics, Inc. (NYSE:GXO) by 7.4% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 327,189 shares of the company’s stock after buying an additional 22,404 shares during the period. Retirement Systems of Alabama’s holdings in GXO Logistics were worth $14,233,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of GXO. Global Alpha Capital Management Ltd. acquired a new stake in GXO Logistics during the 3rd quarter worth $32,434,000. Brown Brothers Harriman & Co. raised its position in shares of GXO Logistics by 105.0% during the third quarter. Brown Brothers Harriman & Co. now owns 968,267 shares of the company’s stock worth $50,418,000 after purchasing an additional 495,829 shares during the period. River Road Asset Management LLC lifted its holdings in shares of GXO Logistics by 40.4% during the 3rd quarter. River Road Asset Management LLC now owns 1,308,532 shares of the company’s stock valued at $68,135,000 after purchasing an additional 376,704 shares in the last quarter. Swedbank AB lifted its holdings in shares of GXO Logistics by 13.9% during the 4th quarter. Swedbank AB now owns 2,050,000 shares of the company’s stock valued at $89,175,000 after purchasing an additional 250,000 shares in the last quarter. Finally, Mediolanum International Funds Ltd acquired a new position in shares of GXO Logistics in the 3rd quarter valued at approximately $6,819,000. 90.67% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

GXO has been the topic of a number of research reports. UBS Group lifted their price target on shares of GXO Logistics from $66.00 to $72.00 and gave the company a “buy” rating in a research note on Wednesday, November 6th. Oppenheimer boosted their price objective on shares of GXO Logistics from $63.00 to $67.00 and gave the company an “outperform” rating in a research report on Wednesday, November 27th. TD Cowen increased their target price on GXO Logistics from $82.00 to $83.00 and gave the stock a “buy” rating in a report on Wednesday, November 6th. The Goldman Sachs Group cut their price target on GXO Logistics from $63.00 to $54.00 and set a “neutral” rating on the stock in a report on Thursday, January 16th. Finally, Loop Capital downgraded GXO Logistics from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $71.00 to $49.00 in a report on Monday, February 3rd. Four research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $63.46.

GXO Logistics Stock Down 1.3 %

NYSE:GXO opened at $43.27 on Friday. GXO Logistics, Inc. has a twelve month low of $41.38 and a twelve month high of $63.33. The firm has a market capitalization of $5.17 billion, a price-to-earnings ratio of 48.08, a price-to-earnings-growth ratio of 1.24 and a beta of 1.60. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.81. The stock’s 50 day moving average price is $45.71 and its two-hundred day moving average price is $51.34.

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.