Mendel Money Management Lowers Position in GXO Logistics, Inc. (NYSE:GXO)

Mendel Money Management lowered its stake in GXO Logistics, Inc. (NYSE:GXO) by 10.7% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 64,610 shares of the company’s stock after selling 7,751 shares during the quarter. GXO Logistics comprises about 1.3% of Mendel Money Management’s portfolio, making the stock its 28th biggest holding. Mendel Money Management owned about 0.05% of GXO Logistics worth $2,811,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also made changes to their positions in the company. Murphy & Mullick Capital Management Corp purchased a new position in GXO Logistics in the fourth quarter worth approximately $41,000. R Squared Ltd purchased a new stake in GXO Logistics during the 4th quarter valued at approximately $54,000. Nomura Asset Management Co. Ltd. increased its stake in GXO Logistics by 33.3% in the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 1,160 shares of the company’s stock valued at $60,000 after buying an additional 290 shares during the period. Thurston Springer Miller Herd & Titak Inc. lifted its position in GXO Logistics by 213.5% in the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 1,370 shares of the company’s stock valued at $60,000 after purchasing an additional 933 shares during the period. Finally, Whittier Trust Co. of Nevada Inc. raised its position in GXO Logistics by 33.7% in the fourth 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 in the last quarter. 90.67% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages have issued reports on GXO. Truist Financial initiated coverage on shares of GXO Logistics in a report on Thursday, March 13th. They issued a “hold” rating and a $40.00 price target on the stock. Oppenheimer dropped their target price on shares of GXO Logistics from $67.00 to $55.00 and set an “outperform” rating for the company in a research report on Tuesday, February 18th. Morgan Stanley lowered their target price on GXO Logistics from $63.00 to $57.00 and set an “overweight” rating for the company in a research note on Friday, February 14th. Loop Capital downgraded GXO Logistics from a “buy” rating to a “hold” rating and lowered their target price for the company from $71.00 to $49.00 in a research note on Monday, February 3rd. Finally, UBS Group dropped their target price on shares of GXO Logistics from $72.00 to $50.00 and set a “buy” rating for the company in a research report on Friday, February 14th. Six equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $55.60.

GXO Logistics Stock Performance

Shares of GXO opened at $40.26 on Wednesday. The company has a current ratio of 0.83, a quick ratio of 0.86 and a debt-to-equity ratio of 0.83. The firm has a fifty day simple moving average of $41.59 and a 200 day simple moving average of $49.02. The stock has a market capitalization of $4.81 billion, a price-to-earnings ratio of 35.95, a PEG ratio of 1.34 and a beta of 1.62. GXO Logistics, Inc. has a 12 month low of $34.51 and a 12 month high of $63.33.

GXO Logistics (NYSE:GXO) last announced its quarterly earnings results on Wednesday, February 12th. The company reported $1.00 earnings per share (EPS) for the quarter, beating 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%. Research analysts forecast that GXO Logistics, Inc. will post 2.49 EPS 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.