Principal Financial Group Inc. lessened its holdings in shares of GXO Logistics, Inc. (NYSE:GXO – Get Rating) by 1.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 340,012 shares of the company’s stock after selling 4,172 shares during the quarter. Principal Financial Group Inc.’s holdings in GXO Logistics were worth $30,883,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also modified their holdings of GXO. BlackRock Inc. acquired a new stake in shares of GXO Logistics during the third quarter worth approximately $671,977,000. American Century Companies Inc. boosted its stake in shares of GXO Logistics by 51.2% during the 4th quarter. American Century Companies Inc. now owns 2,790,395 shares of the company’s stock valued at $253,452,000 after buying an additional 945,283 shares during the period. Dimensional Fund Advisors LP grew its holdings in shares of GXO Logistics by 0.8% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,117,587 shares of the company’s stock valued at $192,343,000 after acquiring an additional 16,558 shares in the last quarter. Lyrical Asset Management LP purchased a new position in shares of GXO Logistics during the 3rd quarter valued at $154,846,000. Finally, CIBC Private Wealth Group LLC increased its stake in shares of GXO Logistics by 19.0% in the fourth quarter. CIBC Private Wealth Group LLC now owns 1,602,522 shares of the company’s stock worth $145,557,000 after acquiring an additional 256,240 shares during the last quarter. Institutional investors own 91.32% of the company’s stock.
A number of research analysts have commented on GXO shares. Morgan Stanley boosted their target price on GXO Logistics from $75.00 to $76.00 and gave the company an “equal weight” rating in a research note on Monday, April 4th. Citigroup cut their price target on GXO Logistics from $110.00 to $90.00 and set a “buy” rating for the company in a research note on Wednesday, April 20th. Oppenheimer cut their price target on GXO Logistics from $108.00 to $91.00 in a research note on Monday, May 9th. Wells Fargo & Company raised their price target on GXO Logistics from $105.00 to $110.00 in a research note on Thursday, February 17th. Finally, JPMorgan Chase & Co. cut their price target on GXO Logistics from $100.00 to $86.00 and set an “overweight” rating for the company in a research note on Friday, April 8th. One research analyst has rated the stock with a sell rating, four have given a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of $98.00.
GXO Logistics (NYSE:GXO – Get Rating) last issued its quarterly earnings data on Wednesday, May 4th. The company reported $0.59 earnings per share for the quarter, beating analysts’ consensus estimates of $0.51 by $0.08. GXO Logistics had a return on equity of 9.11% and a net margin of 2.15%. The business had revenue of $2.08 billion for the quarter, compared to the consensus estimate of $2.06 billion. During the same period last year, the business earned $0.37 EPS. The firm’s revenue was up 14.3% compared to the same quarter last year. On average, analysts forecast that GXO Logistics, Inc. will post 2.86 EPS for the current fiscal year.
In other GXO Logistics news, Director Gena L. Ashe sold 3,527 shares of the firm’s stock in a transaction that occurred on Tuesday, March 1st. The stock was sold at an average price of $80.00, for a total value of $282,160.00. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director S Jacobs Bradley sold 5,447,500 shares of the firm’s stock in a transaction that occurred on Wednesday, April 13th. The shares were sold at an average price of $57.24, for a total value of $311,814,900.00. Following the completion of the sale, the director now directly owns 6,468,201 shares in the company, valued at approximately $370,239,825.24. The disclosure for this sale can be found here.
GXO Logistics Profile (Get Rating)
GXO Logistics, Inc, together with its subsidiaries, provides logistics services worldwide. The company provides warehousing and distribution, order fulfilment, e-commerce, and other supply chain services, as well as reverse logistics or returns management services. As of December 31, 2021, it operated in approximately 906 facilities.
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