Xerox (NYSE:XRX) Reaches New 52-Week Low – Here’s Why

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

Analyst Ratings Changes

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

Xerox Stock Down 1.2 %

The company has a debt-to-equity ratio of 2.61, a quick ratio of 0.84 and a current ratio of 1.11. The company has a market cap of $756.07 million, a price-to-earnings ratio of -0.56 and a beta of 1.66. The stock’s fifty day moving average is $8.15 and its two-hundred day moving average is $9.09.

Xerox Cuts Dividend

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

Institutional Investors Weigh In On Xerox

Large investors have recently modified their holdings of the stock. Gladius Capital Management LP purchased a new stake in shares of Xerox during the 3rd quarter worth approximately $29,000. Picton Mahoney Asset Management raised its position in Xerox by 330.5% during the fourth quarter. Picton Mahoney Asset Management now owns 3,758 shares of the information technology services provider’s stock valued at $31,000 after purchasing an additional 2,885 shares in the last quarter. TD Waterhouse Canada Inc. purchased a new position in shares of Xerox in the 4th quarter worth about $51,000. US Bancorp DE boosted its holdings 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 worth $66,000 after purchasing an additional 1,888 shares in the last quarter. Finally, KBC Group NV boosted its holdings in shares of Xerox by 84.5% in the 4th quarter. KBC Group NV now owns 9,223 shares of the information technology services provider’s stock worth $78,000 after purchasing an additional 4,224 shares in the last quarter. 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.