Meridian Management Co. Trims Stake in GXO Logistics, Inc. (NYSE:GXO)

Meridian Management Co. cut its position in shares of GXO Logistics, Inc. (NYSE:GXO) by 0.4% in the second quarter, Holdings Channel.com reports. The firm owned 51,626 shares of the company’s stock after selling 211 shares during the quarter. Meridian Management Co.’s holdings in GXO Logistics were worth $2,607,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in GXO. International Assets Investment Management LLC purchased a new position in shares of GXO Logistics during the fourth quarter valued at approximately $554,000. Jump Financial LLC bought a new stake in shares of GXO Logistics during the 4th quarter worth approximately $203,000. QRG Capital Management Inc. boosted its holdings in GXO Logistics by 173.1% during the 4th quarter. QRG Capital Management Inc. now owns 12,651 shares of the company’s stock valued at $774,000 after acquiring an additional 8,018 shares during the period. Envestnet Portfolio Solutions Inc. grew its position in GXO Logistics by 7.4% in the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 4,708 shares of the company’s stock valued at $288,000 after acquiring an additional 325 shares during the last quarter. Finally, Vanguard Personalized Indexing Management LLC increased its stake in GXO Logistics by 58.3% in the fourth quarter. Vanguard Personalized Indexing Management LLC now owns 15,994 shares of the company’s stock worth $978,000 after purchasing an additional 5,891 shares during the period. 90.67% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

GXO has been the subject of a number of recent analyst reports. Wells Fargo & Company assumed coverage on shares of GXO Logistics in a research note on Friday, June 7th. They set an “overweight” rating and a $58.00 target price for the company. JPMorgan Chase & Co. upped their target price on shares of GXO Logistics from $61.00 to $63.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 9th. Finally, UBS Group decreased their price target on shares of GXO Logistics from $71.00 to $66.00 and set a “buy” rating for the company in a research note on Wednesday, August 7th. One equities research analyst has rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat.com, GXO Logistics has a consensus rating of “Moderate Buy” and an average target price of $67.45.

GXO Logistics Price Performance

Shares of GXO opened at $50.75 on Friday. The company has a debt-to-equity ratio of 0.87, a quick ratio of 0.86 and a current ratio of 0.86. The company has a 50 day moving average price of $50.55 and a 200-day moving average price of $50.44. GXO Logistics, Inc. has a fifty-two week low of $46.07 and a fifty-two week high of $63.07. The stock has a market capitalization of $6.06 billion, a PE ratio of 36.51, a PEG ratio of 1.46 and a beta of 1.58.

GXO Logistics (NYSE:GXO) last posted its earnings results on Tuesday, August 6th. The company reported $0.55 earnings per share for the quarter, missing analysts’ consensus estimates of $0.57 by ($0.02). The company had revenue of $2.85 billion for the quarter, compared to analysts’ expectations of $2.73 billion. GXO Logistics had a return on equity of 9.86% and a net margin of 1.35%. The firm’s quarterly revenue was up 18.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.70 EPS. Equities analysts predict that GXO Logistics, Inc. will post 2.79 earnings per share 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.