Baupost Group LLC MA Buys Shares of 1500000 XPO Logistics Inc (NYSE:XPO)

Baupost Group LLC MA bought a new stake in shares of XPO Logistics Inc (NYSE:XPO) during the second quarter, Holdings Channel.com reports.

XPO Logistics logoBaupost Group LLC MA bought a new stake in shares of XPO Logistics Inc (NYSE:XPO) during the second quarter, Holdings Channel.com reports. The fund bought 1,500,000 shares of the transportation company’s stock, valued at approximately $86,715,000. XPO Logistics comprises 0.8% of Baupost Group LLC MA’s investment portfolio, making the stock its 26th biggest position.

A number of other hedge funds have also modified their holdings of XPO. BlackRock Inc. raised its holdings in XPO Logistics by 76.8% during the 1st quarter. BlackRock Inc. now owns 11,095,856 shares of the transportation company’s stock valued at $596,290,000 after acquiring an additional 4,818,377 shares during the period. Principal Financial Group Inc. increased its holdings in shares of XPO Logistics by 12,138.3% in the first quarter. Principal Financial Group Inc. now owns 472,153 shares of the transportation company’s stock worth $25,374,000 after purchasing an additional 468,295 shares during the period. TD Asset Management Inc. increased its holdings in shares of XPO Logistics by 137.3% in the first quarter. TD Asset Management Inc. now owns 787,132 shares of the transportation company’s stock worth $42,300,000 after purchasing an additional 455,360 shares during the period. North Peak Capital Management LLC bought a new position in shares of XPO Logistics in the second quarter worth $17,820,000. Finally, American International Group Inc. increased its holdings in shares of XPO Logistics by 7,126.2% in the first quarter. American International Group Inc. now owns 218,809 shares of the transportation company’s stock worth $11,759,000 after purchasing an additional 215,781 shares during the period. 88.29% of the stock is currently owned by institutional investors and hedge funds.

NYSE XPO opened at $74.92 on Friday. The company has a 50-day simple moving average of $68.70 and a two-hundred day simple moving average of $59.70. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 2.35. XPO Logistics Inc has a 12-month low of $41.05 and a 12-month high of $116.27. The firm has a market cap of $7.01 billion, a price-to-earnings ratio of 23.49, a PEG ratio of 0.63 and a beta of 2.40.

XPO Logistics (NYSE:XPO) last posted its quarterly earnings results on Thursday, August 1st. The transportation company reported $1.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.04 by $0.24. XPO Logistics had a net margin of 2.16% and a return on equity of 11.92%. The business had revenue of $4.24 billion during the quarter, compared to analyst estimates of $4.37 billion. During the same period in the prior year, the business posted $0.98 earnings per share. The company’s revenue was down 2.9% on a year-over-year basis. Equities analysts expect that XPO Logistics Inc will post 3.84 earnings per share for the current fiscal year.

Several research firms have recently weighed in on XPO. Jefferies Financial Group upped their price target on shares of XPO Logistics from $92.00 to $98.00 and gave the stock a “buy” rating in a report on Monday, August 5th. They noted that the move was a valuation call. Zacks Investment Research cut shares of XPO Logistics from a “buy” rating to a “hold” rating in a report on Friday, August 16th. Cowen upped their price target on shares of XPO Logistics from $84.00 to $92.00 and gave the stock an “outperform” rating in a report on Friday, August 2nd. Oppenheimer upped their price target on shares of XPO Logistics from $73.00 to $79.00 and gave the stock an “outperform” rating in a report on Monday, August 5th. Finally, Bank of America set a $76.00 price target on shares of XPO Logistics and gave the stock a “buy” rating in a report on Friday, August 23rd. Six investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. XPO Logistics currently has an average rating of “Buy” and an average target price of $83.17.

In other XPO Logistics news, Director Jason D. Papastavrou purchased 1,375 shares of the business’s stock in a transaction on Tuesday, September 10th. The stock was acquired at an average cost of $75.42 per share, for a total transaction of $103,702.50. Following the completion of the transaction, the director now directly owns 13,875 shares in the company, valued at approximately $1,046,452.50. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 18.70% of the company’s stock.

XPO Logistics Company Profile

XPO Logistics, Inc provides transportation and logistics services in the United States, North America, France, the United Kingdom, Europe, and internationally. The company’s Transportation segment offers freight brokerage services comprising truck brokerage, intermodal, drayage, and expedite services; last mile services, primarily asset-light; density and day-definite regional, inter-regional, and transcontinental less-than-truckload freight services; full truckload services for transactional transportation of packaged goods, high cube products, and bulk goods; logistics services for domestic, cross-border, and international shipments; and managed transportation services.

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Want to see what other hedge funds are holding XPO?Visit HoldingsChannel.com to get the latest 13F filings and insider trades for XPO Logistics Inc (NYSE:XPO).

Institutional Ownership by Quarter for XPO Logistics (NYSE:XPO)

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1500000 Shares in XPO Logistics Inc (NYSE:XPO) Acquired by Baupost Group LLC MA

Baupost Group LLC MA purchased a new position in shares of XPO Logistics Inc (NYSE:XPO) during the 2nd quarter, according to the company in its …

XPO Logistics logoBaupost Group LLC MA purchased a new position in shares of XPO Logistics Inc (NYSE:XPO) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 1,500,000 shares of the transportation company’s stock, valued at approximately $86,715,000. XPO Logistics makes up 0.8% of Baupost Group LLC MA’s portfolio, making the stock its 26th largest position. Baupost Group LLC MA owned about 1.63% of XPO Logistics as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Meridian Wealth Management LLC bought a new position in XPO Logistics in the 1st quarter valued at approximately $34,000. Steward Partners Investment Advisory LLC bought a new position in XPO Logistics in the 2nd quarter valued at approximately $74,000. AdvisorNet Financial Inc lifted its stake in XPO Logistics by 54.9% in the 2nd quarter. AdvisorNet Financial Inc now owns 1,451 shares of the transportation company’s stock valued at $84,000 after purchasing an additional 514 shares during the last quarter. MUFG Americas Holdings Corp bought a new position in XPO Logistics in the 2nd quarter valued at approximately $98,000. Finally, Parallel Advisors LLC lifted its stake in XPO Logistics by 30.8% in the 2nd quarter. Parallel Advisors LLC now owns 1,834 shares of the transportation company’s stock valued at $106,000 after purchasing an additional 432 shares during the last quarter. Institutional investors and hedge funds own 88.29% of the company’s stock.

In other news, Director Jason D. Papastavrou bought 1,375 shares of the stock in a transaction that occurred on Tuesday, September 10th. The stock was acquired at an average price of $75.42 per share, with a total value of $103,702.50. Following the completion of the purchase, the director now directly owns 13,875 shares of the company’s stock, valued at $1,046,452.50. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 18.70% of the stock is owned by company insiders.

XPO has been the subject of several research reports. Raymond James reissued an “outperform” rating and issued a $78.00 price objective (up previously from $68.00) on shares of XPO Logistics in a research note on Monday, August 5th. Stephens increased their price objective on shares of XPO Logistics from $64.00 to $71.00 and gave the company an “equal weight” rating in a research note on Monday, August 5th. Morgan Stanley set a $68.00 price objective on shares of XPO Logistics and gave the company a “hold” rating in a research note on Monday, July 8th. Bank of America set a $76.00 price objective on shares of XPO Logistics and gave the company a “buy” rating in a research note on Friday, August 23rd. Finally, Goldman Sachs Group initiated coverage on shares of XPO Logistics in a research note on Wednesday, July 10th. They issued a “neutral” rating and a $65.00 price objective for the company. Six analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. XPO Logistics currently has a consensus rating of “Buy” and a consensus target price of $83.17.

XPO stock opened at $74.92 on Friday. The company has a fifty day moving average price of $68.70 and a 200-day moving average price of $59.70. The company has a market capitalization of $7.01 billion, a P/E ratio of 23.49, a PEG ratio of 0.63 and a beta of 2.40. XPO Logistics Inc has a 52-week low of $41.05 and a 52-week high of $116.27. The company has a debt-to-equity ratio of 2.35, a quick ratio of 1.03 and a current ratio of 1.03.

XPO Logistics (NYSE:XPO) last announced its earnings results on Thursday, August 1st. The transportation company reported $1.28 earnings per share for the quarter, topping analysts’ consensus estimates of $1.04 by $0.24. XPO Logistics had a net margin of 2.16% and a return on equity of 11.92%. The business had revenue of $4.24 billion during the quarter, compared to the consensus estimate of $4.37 billion. During the same quarter last year, the firm earned $0.98 earnings per share. XPO Logistics’s quarterly revenue was down 2.9% on a year-over-year basis. As a group, sell-side analysts forecast that XPO Logistics Inc will post 3.84 earnings per share for the current fiscal year.

About XPO Logistics

XPO Logistics, Inc provides transportation and logistics services in the United States, North America, France, the United Kingdom, Europe, and internationally. The company’s Transportation segment offers freight brokerage services comprising truck brokerage, intermodal, drayage, and expedite services; last mile services, primarily asset-light; density and day-definite regional, inter-regional, and transcontinental less-than-truckload freight services; full truckload services for transactional transportation of packaged goods, high cube products, and bulk goods; logistics services for domestic, cross-border, and international shipments; and managed transportation services.

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Institutional Ownership by Quarter for XPO Logistics (NYSE:XPO)

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Today’s Logistics Report: Shipping’s Emissions Costs; California Trucking Alarms; Japan’s Online …

Once a corporate cousin of the U.S. Yahoo website, Yahoo Japan is now a separate company under SoftBank Group Corp. aiming to take on …

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The maritime industry’s top regulator says there will be no slowdown in meeting shipping’s environmental targets. Kitack Lim, secretary-general of the International Maritime Organization says ports, shipping lines and fuel providers “are all set to go” to meet the mandate starting Jan. 1 to slash sulfur emissions from their vessels. Mr. Lim tells the WSJ Logistics Report’s Costas Paris, “Compliant fuel will be available and it’s working very well in trial voyages.” Some ship owners remain wary of the impact of the new rules, and many say the sulfur rule and impending new limits for greenhouse-gas emissions will raise costs for shippers and consumers. Ocean transport makes up a small portion of overall supply-chain costs however, and one new report says the entire decarbonization process across the maritime industry would likely add less than 1% to the cost of a $60 pair of jeans.

TRANSPORTATION

Trucking industry officials are raising alarms over legislation in California that takes aim at “gig-economy” business models beyond big technology players. Industry groups say the measure that passed the state’s legislature this week would upend road transport business across California, the WSJ Logistics Report’s Jennifer Smith writes, including the port-trucking operations that are a big part of the state’s goods-movement economy. Under the bill, certain industries would have to meet tough standards to classify a worker as a contractor instead of an employee. Businesses are still trying to figure out the impact on often-complicated relationships between owner-operator drivers, trucking companies and freight brokers.Trucking officials say taking on independent drivers as employees would likely prove costly for companies, and make operations less nimble. Other businesses far from technology are also weighing the impact, including construction, translators and agriculture.

Competition in Japan’s e-commerce industry is heating up.Yahoo Japan Corp. will spend $3.7 billion to take a controlling stake in Japanese online fashion retailer Zozo Inc., the WSJ’s Megumi Fujikawa reports, providing a platform to help transform its business from news content into digital retail. Once a corporate cousin of the U.S. Yahoo website, Yahoo Japan is now a separate company under SoftBank Group Corp. aiming to take on heavyweights Amazon.com Inc. and homegrown rival Rakuten Inc. With Zozo in its stable, Yahoo Japan hopes to attract younger fashion-conscious consumers in a Japanese e-commerce market that reached $167 billion in sales last year. The move suggests the e-commerce playing field is still forming, even in seemingly developed markets like Japan. Package delivery in Japan is expensive and analysts expect the agreement will help both Yahoo Japan and Zozo get more efficient in logistics.

QUOTABLE

“If shipping companies take on all the cost, they will collapse.”

—The International Maritime Organization’s Kitack Lim, on environmental mandates.

Number of the Day

139.0

The U.S. Freight Transportation Services Index in July, a 0.9% increase from June and a record high for the measure, according to the Bureau of Transportation Statistics.

IN OTHER NEWS

The European Central Bank launched a sweeping stimulus package that includes lower interest rates a broad package of bond purchases. (WSJ)

U.S. consumer prices rose modestly in August on weak energy prices. (WSJ)

A top United Auto Workers official was charged in a widening federal investigation into corruption in the union’s top ranks. (WSJ)

StarKist Co. was ordered to pay $100 million for its role in a conspiracy prosecutors say inflated prices for canned tuna. (WSJ)

OId Navy is defying trends in brick-and-mortar retail with plans to open 800 U.S. stores. (WSJ)

Grocery chain Kroger Co. said digital investments helped drive an increase in quarterly sales. (WSJ)

Mill Steel is closing an Indiana distribution center because of declining demand for its flat-rolled carbon steel products. (Herald Bulletin)

Walmart Inc. is expanding its membership-based grocery delivery service to 1,400 U.S. stores. (CNBC)

Indian food delivery startups are trying to resolve differences with restaurants that have boycotted their services over alleged predatory pricing. (Nikkei Asian Review)

Shipping sulfur-emissions scrubbers are undergoing costly repairs less than six months after being installed on vessels. (Lloyd’s List)

Taiwan’s Evergreen Marine Corp. plans to order 10 container ships with capacity for 23,000 20-foot containers each. (Splash 247)

A province in Northern Italy will provide a subsidy this year to truckers that ship their freight by rail. (Railfreight)

Simbe Robotics Inc. raised $26 million in a Series A funding round to back construction of its rolling robots. (DC Velocity)

ABOUT US

Paul Page is editor of WSJ Logistics Report. Follow the WSJ Logistics Report team: @PaulPage, @jensmithWSJ and @CostasParis. Follow the WSJ Logistics Report on Twitter at @WSJLogistics.

Write to Paul Page at paul.page@wsj.com

Copyright ©2019 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8

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DHL opens innovation center in Chicago

Opening an innovation center in the Americas is part of DHL’s push to invest in new technologies. DHL Supply Chain recently said it would be …
Home >Material Handling > DHL opens innovation center in Chicago
Material HandlingSeptember 12, 2019

Emerging technology could solve problems in warehouse labor, parcel returns, urban delivery, DHL says.

By Ben Ames

Contract logistics provider DHL Supply Chain opened an innovation center today near Chicago where the company plans to work hand-in-glove with a range of startup firms to apply emerging technologies to the challenges being faced by its clients.

The Bonn, Germany-based company, which is an arm of logistics giant Deutsche Post DHL Group, said the 28,000 square foot facility in Rosemont, Illinois, would help it accelerate the development of new solutions for logistics and supply chain operations.

Through tight integrations with the startup firms providing the technology—as well as customers, employees, and academics—DHL runs pilot tests and provides feedback on the cutting edge equipment, helping to guide the development of future models. That process can help DHL Supply Chain’s customers—which include retailers, e-commerce sites, and online marketplaces—to tackle challenges such as warehouse labor shortages, international parcel returns, and last-mile urban delivery, Ken Allen, CEO of DHL E-commerce Solutions, said in a tour of the site.

The innovation center is DHL’s third such facility, following sites opened in 2007 in Bonn and in 2015 in Singapore. Opening an innovation center in the Americas is part of DHL’s push to invest in new technologies. DHL Supply Chain recently said it would be investing $300 million in 2018 and 2019 to deploy emerging technologies to 350 of its 430 North American facilities and transportation control towers.

That investment is intended to help support the operations of DHL Supply Chain’s best known customers, such as Amazon.com Inc., Etsy, Ebay, Rakuten, Alibaba.com, and JD.com, as well as overseas e-commerce concerns that are less familiar to U.S. consumers, such as Zalando, Jumia, Asos, Lazada, Gittigidiyar, and Taobao.com.

Inside the innovation center on Wednesday, DHL technicians experimented with products such as Google Glass smartglasses, Paccar Inc. artificial intelligence (AI)-based pallet dimensioning, and Kinetic wearable devices for monitoring poor posture by warehouse workers.

Robotics platforms in the center included Locus Robotics mobile fulfillment bots, a robotic arm from Universal Robots equipped with a gripper from Covariant, a Vecna Robotics autonomous pallet jack, and an Effidence autonomous cart with 600-pound carrying capacity.

Despite the potential of these emerging technologies, DHL argues that the platforms work best when they are put through strict pilot tests and then matched carefully with each user’s needs. “None of these solutions just come into your warehouse and work. It takes an integrator like DHL to produce a return on investment for our customers,” said Scott Sureddin, CEO of DHL Supply Chain.

Testing technology in the warehouse

Some of the emerging technologies developed through DHL’s partnerships with logistics technology startups were on display during a tour on Wednesday of a nearby DHL facility in North Aurora, Illinois.

DHL Supply Chain operates the distribution center on behalf of its client, Glanbia plc, an Irish retailer of sports nutrition products such as SlimFast and other powders, drinks, and protein bars.

DHL demonstrated five new technologies at the site, including the software platforms MySupplyChain.dhl.com, which offers cloud-based track and trace, business analytics, and customer service, and Smart Operations, which enables “digital twin” modeling capabilities for warehouse processes. Those platforms integrate with the facility’s warehouse management system (WMS) software, provided by JDA Software Group Inc.

Inside the warehouse, DHL demonstrated three robotic vehicles, zipping through the aisles of racks that towered five levels high, piled with pallets stacked with cardboard boxes.

The first was a mobile platform featuring a warehouse employee wearing smart glasses for voice-enabled vision picking, while directing center-rider double-pallet jack from Crown Equipment Corp. that was outfitted with Crown’s QuickPick remote-operation technology, enabling it to follow him like a loyal dog as he walked the aisles.

The second was an automated warehouse floor scrubber—described as an industrial version of iRobot’s Roomba consumer product—but sized up to fit a spacious warehouse. Built by Kitchener, Ontario-based Avidbots Corp., the robotic vacuum scrubs the gleaming, concrete floors of the building to maintain food storage standards and to sustain the flat, smooth floors needed to provide smooth sailing for other autonomous robots.

DHL is now in the second round of working with Avidbots to adapt its robo-vacuums, originally designed for airports and shopping malls, for more rugged warehouse work and may soon increase the test fleet of just 10 vehicles to a far wider rollout across DHL’s facilities.

The third vehicle demonstrated in the facility was a vision-guided tugger made by Pittsburgh-based Seegrid Corp. and capable of moving 10,000-pound loads at five mph through the warehouse, reducing travel time requirements for forklift drivers.

“Now with three Innovation Centers around the world, DHL can leverage the power of innovation to serve customers and play an active role in shaping the future of logistics,” DHL’s Allen said in a release. “DHL is an organization that prioritizes thinking differently to deliver excellence, and I’m proud we now have this platform in the Americas to extend these capabilities to partners in their own backyard.”

The place where the future of logistics comes to life: The new #DHL Americas Innovation Center will open its doors in Chicago tomorrow. The future of logistics starts here. Stay tuned! #DHLinnovation#TheFutureOfLogistics#future#Chicago#innovationpic.twitter.com/6GhppWwP03

— DHL Americas (@DHLAmericas) September 11, 2019

About the Author

Ben Ames

Senior Editor

Ben Ames has spent 20 years as a journalist since starting out as a daily newspaper reporter in Pennsylvania in 1995. From 1999 forward, he has focused on business and technology reporting for a number of trade journals, beginning when he joined Design News and Modern Materials Handling magazines. Ames is author of the trail guide “Hiking Massachusetts” and is a graduate of the Columbia School of Journalism.


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The real reason to cheer Uber’s move

“Chicago is a significant talent hub,” Uber CEO Dara Khosrowshahi said on Monday. “It’s a business-friendly city and a city with a significant logistics …

You can’t disrupt the freight shipping industry from Silicon Valley.

That’s the most important takeaway from Uber Technologies’ decision to move its fast-growing logistics business to Chicago. San Francisco-based Uber on Monday announced plans to fill more than 450,000 square feet of space at the Old Post Office with 2,000 workers.

Sure, it’s a big coup for the real estate developers who transformed the hulking structure astride the Eisenhower Expressway into downtown’s hottest new business address. And it’s another chance for city leaders to tout a high-profile corporate transplant.

But Uber isn’t coming here because it loves art deco architecture, or exchanging platitudes with local pols and plutocrats. It’s coming here because it’s serious about the freight business. Anybody who’s serious about the freight business has to be in Chicago.

Chicago has been the hub of cargo transit in the United States since a bunch of Irish immigrants dug a canal connecting Lake Michigan with the Mississippi River system back in the 1840s. The country’s rail, highway and air transport networks converge here.

That convergence gave rise to an industry that orchestrates the movement of goods among various transportation modes. Now called logistics, that industry generates nearly $200 billion annually in the U.S., according to research firm IBIS World.

No wonder Uber wants in. But Uber won’t achieve its goals in logistics without steady supplies of industry-level expertise. Unlike in Uber’s ride-hailing business, a smartphone app alone won’t turn logistics upside down.

Uber doesn’t even have the kind of technological edge in logistics that it enjoyed over traditional taxi companies. As my colleague John Pletz has written, local logistics firms pioneered the application of digital technologies to the intricacies of choreographing continuous flows of freight around the country. Uber has plenty to learn from companies like Coyote Logistics (now a unit of UPS), Echo Global Logistics, Four Kites and Project44.

What better way to tap the expertise of leading logistics companies than to set up shop in their hometown and offer some of their top talent lucrative job opportunities that don’t require a cross-country move?

“Chicago is a significant talent hub,” Uber CEO Dara Khosrowshahi said on Monday. “It’s a business-friendly city and a city with a significant logistics talent base.”

To succeed in logistics, Uber needs people who know logistics. And it’s not just looking for sales reps to market technologies created elsewhere. It’s recruiting software engineers who know how to build digital systems for logistics. Chicago is the place to find them.

That’s why Uber is coming here, and it’s good news for a city still struggling to find its place in a 21st century economy defined by digitization. Uber’s move confirms that industry knowledge matters as much as digital dexterity in creating technology-based business models. You can’t upend an industry unless you understand it.

Uber is implicitly acknowledging that Silicon Valley has no monopoly on the capabilities needed to drive digital transformation. Places like Chicago have unique expertise essential to digitizing significant sectors of the economy.

Chicago likely won’t ever become a hub for information technology or social media. But it has a strong presence in large markets ranging from packaged foods to pharmaceuticals and futures trading. Chicago companies can lead the technological evolution of those industries, if they follow the lead of local logistics innovators.

As for logistics, a big battle is shaping up between Uber Freight and established rivals. Uber comes with some advantages, including access to deep wells of capital and an apparent willingness to lose money for as long as it takes to win. But grabbing customers from logistics providers won’t be as easy as separating passengers from taxis. Longstanding logistics companies have advantages of their own, such as deep understanding of shippers’ needs and tight relationships with carriers.

Whatever the outcome, Chicago looks like a winner.

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