Baupost 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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