Xerox (NYSE:XRX) Sets New 52-Week Low – Time to Sell?

Shares of Xerox Holdings Co. (NYSE:XRX) hit a new 52-week low on Friday . The stock traded as low as $7.70 and last traded at $7.73, with a volume of 1268657 shares. The stock had previously closed at $7.85.

Wall Street Analyst Weigh In

Several brokerages have weighed in on XRX. JPMorgan Chase & Co. dropped their target price on Xerox from $11.00 to $8.00 and set an “underweight” rating on the stock in a research report on Wednesday, October 30th. StockNews.com lowered Xerox from a “buy” rating to a “hold” rating in a research report on Wednesday, February 5th. Finally, Morgan Stanley dropped their target price on Xerox from $10.00 to $8.00 and set an “underweight” rating on the stock in a research report on Wednesday, October 30th. Three analysts have rated the stock with a sell rating and two have assigned a hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Reduce” and a consensus price target of $9.50.

Xerox Stock Performance

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 firm has a market cap of $981.90 million, a price-to-earnings ratio of -0.74 and a beta of 1.59. The stock has a fifty day moving average price of $8.70 and a 200 day moving average price of $9.41.

Xerox Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Monday, March 31st will be issued a dividend of $0.125 per share. This represents a $0.50 dividend on an annualized basis and a dividend yield of 6.33%. The ex-dividend date is Monday, March 31st. Xerox’s dividend payout ratio is -9.31%.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Pacer Advisors Inc. boosted its stake in Xerox by 33.2% during the 3rd quarter. Pacer Advisors Inc. now owns 16,969,127 shares of the information technology services provider’s stock valued at $176,140,000 after purchasing an additional 4,228,806 shares during the period. Marshall Wace LLP boosted its stake in Xerox by 397.5% during the 4th quarter. Marshall Wace LLP now owns 1,378,215 shares of the information technology services provider’s stock valued at $11,618,000 after purchasing an additional 1,101,171 shares during the period. Point72 Asset Management L.P. boosted its stake in Xerox by 2,846.8% during the 4th quarter. Point72 Asset Management L.P. now owns 1,128,973 shares of the information technology services provider’s stock valued at $9,517,000 after purchasing an additional 1,090,661 shares during the period. BNP Paribas Financial Markets bought a new stake in Xerox during the 4th quarter valued at approximately $4,101,000. Finally, Susquehanna Fundamental Investments LLC bought a new stake in Xerox during the 4th quarter valued at approximately $3,067,000. Institutional investors and hedge funds own 85.36% of the company’s stock.

About Xerox

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.