SummerHaven Investment Management LLC Has $551,000 Stock Holdings in Xerox Holdings Co. (NYSE:XRX)

SummerHaven Investment Management LLC boosted its stake in shares of Xerox Holdings Co. (NYSE:XRX) by 2.4% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 47,430 shares of the information technology services provider’s stock after purchasing an additional 1,110 shares during the period. SummerHaven Investment Management LLC’s holdings in Xerox were worth $551,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of XRX. Vanguard Group Inc. increased its holdings in Xerox by 1.2% during the fourth quarter. Vanguard Group Inc. now owns 15,981,297 shares of the information technology services provider’s stock worth $292,937,000 after buying an additional 190,034 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of Xerox by 10.7% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,587,041 shares of the information technology services provider’s stock worth $29,090,000 after purchasing an additional 153,144 shares during the last quarter. Allianz Asset Management GmbH raised its holdings in shares of Xerox by 1.5% in the 4th quarter. Allianz Asset Management GmbH now owns 1,044,971 shares of the information technology services provider’s stock valued at $19,154,000 after purchasing an additional 15,408 shares during the period. Bridgeway Capital Management LLC grew its holdings in Xerox by 3.5% during the first quarter. Bridgeway Capital Management LLC now owns 986,682 shares of the information technology services provider’s stock worth $17,662,000 after purchasing an additional 33,590 shares during the period. Finally, Intrinsic Edge Capital Management LLC acquired a new position in Xerox during the fourth quarter worth approximately $14,832,000. 85.36% of the stock is currently owned by institutional investors.

Xerox Stock Performance

Shares of XRX traded up $0.25 during mid-day trading on Friday, hitting $10.70. 363,292 shares of the company’s stock were exchanged, compared to its average volume of 2,167,494. The company has a quick ratio of 1.13, a current ratio of 1.49 and a debt-to-equity ratio of 1.34. The firm has a market cap of $1.33 billion, a price-to-earnings ratio of -6.86 and a beta of 1.58. The stock’s 50-day simple moving average is $11.31 and its 200-day simple moving average is $14.45. Xerox Holdings Co. has a 52 week low of $9.51 and a 52 week high of $19.78.

Xerox (NYSE:XRX) last announced its quarterly earnings data on Thursday, July 25th. The information technology services provider reported $0.29 earnings per share for the quarter, missing the consensus estimate of $0.43 by ($0.14). Xerox had a negative net margin of 1.60% and a positive return on equity of 7.33%. The company had revenue of $1.58 billion during the quarter, compared to analyst estimates of $1.60 billion. During the same period in the prior year, the firm earned $0.44 earnings per share. Xerox’s revenue was down 10.0% on a year-over-year basis. On average, equities research analysts expect that Xerox Holdings Co. will post 1.79 EPS for the current year.

Xerox Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Monday, September 30th will be given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 9.35%. The ex-dividend date is Monday, September 30th. Xerox’s dividend payout ratio is presently -63.69%.

Analysts Set New Price Targets

Several research analysts have recently commented on the company. Loop Capital reduced their target price on Xerox from $14.00 to $11.00 and set a “hold” rating for the company in a research note on Wednesday, August 14th. Citigroup started coverage on shares of Xerox in a research report on Friday, June 28th. They set a “sell” rating and a $11.00 price objective for the company. Finally, StockNews.com raised shares of Xerox from a “hold” rating to a “buy” rating in a research report on Friday, August 16th. Three analysts have rated the stock with a sell rating, one has given a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Xerox presently has an average rating of “Hold” and a consensus price target of $12.75.

Xerox 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.