Xerox (NYSE:XRX) Sets New 12-Month Low – Here’s What Happened

Xerox Holdings Co. (NYSE:XRX)’s stock price reached a new 52-week low during trading on Wednesday . The company traded as low as $6.01 and last traded at $5.99, with a volume of 491525 shares changing hands. The stock had previously closed at $6.11.

Wall Street Analysts Forecast Growth

Separately, StockNews.com lowered 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 issued a hold rating to the company’s stock. Based on data from MarketBeat.com, Xerox currently has an average rating of “Reduce” and a consensus target price of $9.50.

Xerox Stock Down 1.2 %

The firm has a market cap of $756.07 million, a PE ratio of -0.56 and a beta of 1.66. The company has a debt-to-equity ratio of 2.61, a current ratio of 1.11 and a quick ratio of 0.84. The company has a 50-day simple moving average of $8.15 and a 200-day simple moving average of $9.09.

Xerox Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Monday, March 31st will be issued a $0.125 dividend. This represents a $0.50 annualized dividend and a yield of 8.29%. The ex-dividend date is Monday, March 31st. Xerox’s dividend payout ratio is currently -4.66%.

Hedge Funds Weigh In On Xerox

Several hedge funds have recently made changes to their positions in the company. Yousif Capital Management LLC increased its position 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 acquiring an additional 1,486 shares during the period. Franklin Resources Inc. increased its position in shares of Xerox by 1.9% in the 4th quarter. Franklin Resources Inc. now owns 95,012 shares of the information technology services provider’s stock valued at $801,000 after acquiring an additional 1,733 shares during the period. US Bancorp DE increased its position in shares of Xerox by 42.3% in the 3rd quarter. US Bancorp DE now owns 6,353 shares of the information technology services provider’s stock valued at $66,000 after acquiring an additional 1,888 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of Xerox by 3.6% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 66,209 shares of the information technology services provider’s stock valued at $558,000 after acquiring an additional 2,320 shares during the period. Finally, Russell Investments Group Ltd. increased its position in shares of Xerox by 3.0% in the 4th quarter. Russell Investments Group Ltd. now owns 87,466 shares of the information technology services provider’s stock valued at $737,000 after acquiring an additional 2,534 shares during the period. 85.36% of the stock is owned by institutional investors and hedge funds.

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.