Harvest Fund Management Co. Ltd Has $164,000 Position in GXO Logistics, Inc. (NYSE:GXO)

Harvest Fund Management Co. Ltd lowered its holdings in shares of GXO Logistics, Inc. (NYSE:GXO) by 7.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,689 shares of the company’s stock after selling 220 shares during the quarter. Harvest Fund Management Co. Ltd’s holdings in GXO Logistics were worth $164,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of the business. Gilman Hill Asset Management LLC grew its holdings in shares of GXO Logistics by 0.3% during the fourth quarter. Gilman Hill Asset Management LLC now owns 56,156 shares of the company’s stock worth $3,435,000 after buying an additional 170 shares in the last quarter. Ipswich Investment Management Co. Inc. grew its holdings in shares of GXO Logistics by 1.6% during the third quarter. Ipswich Investment Management Co. Inc. now owns 12,430 shares of the company’s stock worth $729,000 after buying an additional 190 shares in the last quarter. Kestra Private Wealth Services LLC grew its holdings in shares of GXO Logistics by 5.3% during the third quarter. Kestra Private Wealth Services LLC now owns 4,004 shares of the company’s stock worth $235,000 after buying an additional 200 shares in the last quarter. Commonwealth Equity Services LLC grew its holdings in shares of GXO Logistics by 1.4% during the third quarter. Commonwealth Equity Services LLC now owns 14,856 shares of the company’s stock worth $871,000 after buying an additional 212 shares in the last quarter. Finally, Mathes Company Inc. grew its holdings in shares of GXO Logistics by 1.0% during the fourth quarter. Mathes Company Inc. now owns 23,225 shares of the company’s stock worth $1,420,000 after buying an additional 225 shares in the last quarter. Institutional investors and hedge funds own 90.67% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently issued reports on GXO shares. TD Cowen increased their price objective on GXO Logistics from $78.00 to $80.00 and gave the stock a “buy” rating in a report on Thursday. Susquehanna increased their price objective on GXO Logistics from $73.00 to $75.00 and gave the stock a “positive” rating in a report on Thursday, February 15th. BNP Paribas upgraded GXO Logistics from an “underperform” rating to a “neutral” rating and set a $50.00 price target for the company in a research note on Wednesday, March 27th. Stifel Nicolaus raised their price target on GXO Logistics from $69.00 to $75.00 and gave the company a “buy” rating in a research note on Wednesday, January 10th. Finally, Citigroup decreased 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 analyst has rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $69.69.

GXO Logistics Stock Performance

GXO opened at $49.00 on Thursday. GXO Logistics, Inc. has a 12-month low of $48.11 and a 12-month high of $67.57. The stock has a market cap of $5.85 billion, a price-to-earnings ratio of 25.71, a PEG ratio of 2.11 and a beta of 1.64. The business has a 50 day moving average of $51.18 and a 200-day moving average of $54.60. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.55.

GXO Logistics (NYSE:GXO) last released its quarterly earnings data 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. GXO Logistics had a return on equity of 10.94% and a net margin of 2.34%. The company had revenue of $2.59 billion during the quarter, compared to analysts’ expectations of $2.55 billion. During the same period last year, the firm posted $0.83 earnings per share. The business’s revenue was up 5.0% on a year-over-year basis. On average, equities research analysts expect that GXO Logistics, Inc. will post 2.78 earnings per share for the current year.

Insider Activity

In related news, Director Gena L. Ashe sold 4,737 shares of GXO Logistics stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $50.00, for a total transaction of $236,850.00. Following the completion of the sale, the director now directly owns 20,851 shares of the company’s stock, valued at approximately $1,042,550. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 2.00% of the company’s stock.

GXO Logistics Company 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.