Xerox (NYSE:XRX) Sets New 12-Month Low – Should You Sell?

Xerox Holdings Co. (NYSE:XRX)’s stock price reached a new 52-week low on Thursday . The stock traded as low as $6.88 and last traded at $6.93, with a volume of 6189098 shares changing hands. The stock had previously closed at $7.49.

Analysts Set New Price Targets

XRX has been the subject of a number of analyst reports. StockNews.com lowered shares of Xerox from a “buy” rating to a “hold” rating in a research note on Wednesday, February 5th. JPMorgan Chase & Co. reduced their price objective on shares of Xerox from $11.00 to $8.00 and set an “underweight” rating for the company in a research note on Wednesday, October 30th. Finally, Morgan Stanley reduced their price objective on shares of Xerox from $10.00 to $8.00 and set an “underweight” rating for the company in a research note on Wednesday, October 30th. Three investment analysts have rated the stock with a sell rating and two have given a hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Reduce” and a consensus price target of $9.50.

Xerox Stock Down 7.5 %

The business’s 50-day moving average price is $8.61 and its 200-day moving average price is $9.34. 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 firm has a market capitalization of $861.91 million, a PE ratio of -0.65 and a beta of 1.59.

Xerox Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Investors 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 dividend on an annualized basis and a yield of 7.22%. Xerox’s dividend payout ratio is currently -4.66%.

Hedge Funds Weigh In On Xerox

A number of hedge funds have recently added to or reduced their stakes in XRX. Gladius Capital Management LP acquired a new position in Xerox in the third quarter worth approximately $29,000. Picton Mahoney Asset Management increased its holdings in Xerox by 330.5% in the fourth 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 last quarter. TD Waterhouse Canada Inc. acquired a new position in Xerox in the fourth quarter worth approximately $51,000. US Bancorp DE grew its holdings in Xerox by 42.3% during the third quarter. US Bancorp DE now owns 6,353 shares of the information technology services provider’s stock valued at $66,000 after purchasing an additional 1,888 shares during the last quarter. Finally, KBC Group NV grew its holdings in Xerox by 84.5% during the fourth quarter. KBC Group NV now owns 9,223 shares of the information technology services provider’s stock valued at $78,000 after purchasing an additional 4,224 shares during the last quarter. 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.