Summary: Advisor Resource Council, an institutional investor, recently purchased 3,501 shares of GXO Logistics, Inc. (NYSE:GXO) stock, valued at approximately $220,000. This purchase came during the second quarter of the year, according to a disclosure filed with the Securities and Exchange Commission. Other institutions and hedge funds, such as Mitsubishi UFJ Trust & Banking Corp and Fifth Third Bancorp, have also bought shares of GXO Logistics. The company’s stock opened at $57.20 on the New York Stock Exchange and has a market cap of $6.80 billion. GXO Logistics provides various logistics services worldwide, including warehousing, distribution, and order fulfillment.
In detail: Advisor Resource Council is just one of several institutional investors that have shown interest in GXO Logistics, Inc. GXO Logistics is a leading provider of global logistics services, offering warehousing and distribution, order fulfillment, e-commerce, reverse logistics, and other supply chain solutions. These services cater to various industries, including e-commerce, retail, technology, food and beverage, manufacturing, and consumer packaged goods.
During the second quarter of the year, Advisor Resource Council purchased 3,501 shares of GXO Logistics stock, valued at approximately $220,000. This move comes as institutional investors continue to show interest in the company. Mitsubishi UFJ Trust & Banking Corp acquired a stake in GXO Logistics during the fourth quarter of the previous year, while Fifth Third Bancorp boosted its position in the company during the first quarter of this year.
GXO Logistics is traded on the New York Stock Exchange under the ticker symbol GXO. On Friday, the stock opened at $57.20. It has a market capitalization of $6.80 billion. The company’s stock has a price-to-earnings ratio of 34.25 and a price/earnings-to-growth ratio of 1.85. It also has a beta of 1.72, indicating higher volatility compared to the broader market.
GXO Logistics reported its quarterly earnings data on August 2nd. The company exceeded analysts’ expectations by reporting earnings per share of $0.70, beating estimates by $0.09. GXO Logistics also generated revenue of $2.39 billion for the quarter, up 11.0% compared to the same period last year.
Analysts have also been positive about GXO Logistics, with several firms lifting their price targets for the stock. Citigroup raised its price objective to $74.00 and gave the company a “buy” rating. Stifel Nicolaus increased its price target to $77.00 and also provided a “buy” rating. Susquehanna boosted its target price to $76.00 and endorsed a “positive” rating.
GXO Logistics has a current consensus rating of “Moderate Buy” among analysts. MarketBeat reports that analysts have a consensus price target of $68.17 for the stock.
– Institutional investor: An organization that invests on behalf of others, such as pension funds and mutual funds.
– Hedge funds: Investment funds that pool capital from accredited individuals or institutional investors and employ various strategies to gain high returns.
– Stake: A portion of ownership in a company represented by shares of stock.
– GXO Logistics, Inc. (NYSE:GXO – Free Report) – Disclosure filed with the Securities and Exchange Commission.
– Mitsubishi UFJ Trust & Banking Corp – Disclosure filed with the Securities and Exchange Commission.
– Fifth Third Bancorp – Disclosure filed with the Securities and Exchange Commission.
– Geneos Wealth Management Inc. – Disclosure filed with the Securities and Exchange Commission.
– Financial Management Professionals Inc. – Disclosure filed with the Securities and Exchange Commission.
– Nomura Asset Management Co. Ltd. – Disclosure filed with the Securities and Exchange Commission.
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– GXO Logistics Profile (Free Report) – from MarketBeat
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