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

Xerox Holdings Co. (NYSE:XRX) reached a new 52-week low during trading on Monday . The stock traded as low as $5.41 and last traded at $5.45, with a volume of 764189 shares. The stock had previously closed at $5.51.

Analyst Ratings Changes

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

Xerox Price Performance

The company has a market cap of $663.99 million, a PE ratio of -0.49 and a beta of 1.66. The company has a quick ratio of 0.84, a current ratio of 1.11 and a debt-to-equity ratio of 2.61. The stock has a 50-day simple moving average of $7.69 and a 200 day simple moving average of $8.79.

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 $0.125 dividend. The ex-dividend date is Monday, March 31st. This represents a $0.50 annualized dividend and a dividend yield of 9.43%. Xerox’s dividend payout ratio is currently -4.66%.

Institutional Trading of Xerox

A number of institutional investors and hedge funds have recently added to or reduced their stakes in XRX. Yousif Capital Management LLC raised its holdings in shares of Xerox by 2.8% in the 4th quarter. Yousif Capital Management LLC now owns 53,816 shares of the information technology services provider’s stock valued at $454,000 after buying an additional 1,486 shares during the period. Franklin Resources Inc. lifted its position in shares of Xerox by 1.9% during the fourth quarter. Franklin Resources Inc. now owns 95,012 shares of the information technology services provider’s stock worth $801,000 after purchasing an additional 1,733 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of Xerox by 3.6% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 66,209 shares of the information technology services provider’s stock worth $558,000 after purchasing an additional 2,320 shares in the last quarter. Russell Investments Group Ltd. grew its holdings in shares of Xerox by 3.0% in the fourth quarter. Russell Investments Group Ltd. now owns 87,466 shares of the information technology services provider’s stock valued at $737,000 after purchasing an additional 2,534 shares in the last quarter. Finally, Picton Mahoney Asset Management increased its stake in Xerox by 330.5% during the 4th quarter. Picton Mahoney Asset Management now owns 3,758 shares of the information technology services provider’s stock worth $31,000 after buying an additional 2,885 shares during the period. Hedge funds and other institutional investors 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.