Xerox (NYSE:XRX) Sets New 52-Week Low – Here’s What Happened

Xerox Holdings Co. (NYSE:XRX)’s stock price reached a new 52-week low during trading on Monday . The company traded as low as $4.75 and last traded at $4.77, with a volume of 1346312 shares trading hands. The stock had previously closed at $5.01.

Analyst Ratings Changes

Separately, StockNews.com downgraded shares of Xerox from a “buy” rating to a “hold” rating in a research note on Wednesday, February 5th. Three equities research analysts have rated the stock with a sell rating and two have given a hold rating to the stock. According to data from MarketBeat, Xerox currently has a consensus rating of “Reduce” and an average price target of $9.50.

Xerox Trading Up 1.9 %

The company has a current ratio of 1.11, a quick ratio of 0.84 and a debt-to-equity ratio of 2.61. The company has a 50 day simple moving average of $7.14 and a 200 day simple moving average of $8.54. The stock has a market capitalization of $616.38 million, a PE ratio of -0.46 and a beta of 1.66.

Xerox Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Monday, March 31st will be given a dividend of $0.125 per share. The ex-dividend date is Monday, March 31st. This represents a $0.50 annualized dividend and a dividend yield of 10.16%. Xerox’s payout ratio is currently -4.66%.

Hedge Funds Weigh In On Xerox

Several hedge funds have recently added to or reduced their stakes in XRX. Empowered Funds LLC raised its holdings in Xerox by 8.2% in the 4th quarter. Empowered Funds LLC now owns 606,748 shares of the information technology services provider’s stock valued at $5,115,000 after acquiring an additional 46,212 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in Xerox by 5.4% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,812,102 shares of the information technology services provider’s stock worth $15,276,000 after acquiring an additional 92,495 shares during the period. Sound Income Strategies LLC grew its holdings in Xerox by 6.7% during the 4th quarter. Sound Income Strategies LLC now owns 1,102,688 shares of the information technology services provider’s stock valued at $9,296,000 after purchasing an additional 69,182 shares in the last quarter. Geode Capital Management LLC increased its position in shares of Xerox by 2.3% during the third quarter. Geode Capital Management LLC now owns 2,808,775 shares of the information technology services provider’s stock worth $29,161,000 after acquiring an additional 62,947 shares during the last quarter. Finally, Barclays PLC increased its holdings in Xerox by 55.5% during the 3rd quarter. Barclays PLC now owns 469,106 shares of the information technology services provider’s stock worth $4,869,000 after purchasing an additional 167,500 shares during the last quarter. 85.36% of the stock is currently owned by hedge funds and other institutional investors.

Xerox Company Profile

Xerox Holdings Corporation, together with its subsidiaries, operates as a workplace technology company that integrates hardware, services, and software for enterprises in the Americas, Europe, the Middle East, Africa, India, and internationally. The company operates through two segments, Print and Other; and FITTLE.