M&T Bank Corp Lowers Holdings in GXO Logistics, Inc. (NYSE:GXO)

M&T Bank Corp lowered its stake in shares of GXO Logistics, Inc. (NYSE:GXO) by 86.7% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 6,414 shares of the company’s stock after selling 41,872 shares during the period. M&T Bank Corp’s holdings in GXO Logistics were worth $279,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. R Squared Ltd purchased a new position in GXO Logistics during the fourth quarter valued at approximately $54,000. Nomura Asset Management Co. Ltd. grew its stake in shares of GXO Logistics by 33.3% during the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 1,160 shares of the company’s stock worth $60,000 after purchasing an additional 290 shares during the period. Thurston Springer Miller Herd & Titak Inc. grew its stake in shares of GXO Logistics by 213.5% during the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 1,370 shares of the company’s stock worth $60,000 after purchasing an additional 933 shares during the period. Wilmington Savings Fund Society FSB purchased a new position in shares of GXO Logistics during the 3rd quarter valued at approximately $71,000. Finally, Brooklyn Investment Group acquired a new position in shares of GXO Logistics in the 3rd quarter valued at $106,000. Institutional investors and hedge funds own 90.67% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on GXO. The Goldman Sachs Group cut their price objective on shares of GXO Logistics from $63.00 to $54.00 and set a “neutral” rating for the company in a report on Thursday, January 16th. Deutsche Bank Aktiengesellschaft initiated coverage on GXO Logistics in a research note on Friday, March 7th. They issued a “hold” rating and a $45.00 price target for the company. Barclays lowered their price target on GXO Logistics from $52.00 to $45.00 and set an “equal weight” rating on the stock in a research report on Thursday, February 13th. Wells Fargo & Company cut their price objective on GXO Logistics from $60.00 to $44.00 and set an “overweight” rating for the company in a research report on Friday, February 14th. Finally, Truist Financial assumed coverage on GXO Logistics in a research note on Thursday. They set a “hold” rating and a $40.00 target price for the company. Six analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $55.60.

GXO Logistics Stock Performance

NYSE GXO opened at $40.26 on Friday. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.86 and a current ratio of 0.83. The stock’s fifty day moving average is $42.08 and its two-hundred day moving average is $49.43. The firm has a market capitalization of $4.81 billion, a P/E ratio of 35.94, a price-to-earnings-growth ratio of 1.34 and a beta of 1.62. GXO Logistics, Inc. has a fifty-two week low of $34.51 and a fifty-two week 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 for the quarter, beating the consensus estimate of $0.94 by $0.06. GXO Logistics had a net margin of 1.14% and a return on equity of 11.16%. On average, research analysts anticipate that GXO Logistics, Inc. will post 2.49 earnings per share for the current year.

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.