Xerox (NYSE:XRX) Hits New 1-Year Low – Time to Sell?

Xerox Holdings Co. (NYSE:XRX) shares 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 traded. The stock had previously closed at $5.51.

Analyst Ratings Changes

Separately, StockNews.com downgraded Xerox from a “buy” rating to a “hold” rating in a research report on Wednesday, February 5th. 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 MarketBeat, the company currently has a consensus rating of “Reduce” and a consensus target price of $9.50.

Xerox Price Performance

The stock has a 50-day moving average price of $7.55 and a two-hundred day moving average price of $8.72. The stock has a market cap of $658.98 million, a price-to-earnings ratio of -0.49 and a beta of 1.66. The company has a current ratio of 1.11, a quick ratio of 0.84 and a debt-to-equity ratio of 2.61.

Xerox Cuts Dividend

The firm 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 of this dividend is Monday, March 31st. This represents a $0.50 dividend on an annualized basis and a dividend yield of 9.51%. Xerox’s payout ratio is -4.66%.

Institutional Investors Weigh In On Xerox

Institutional investors and hedge funds have recently made changes to their positions in the stock. Empowered Funds LLC raised its stake in Xerox by 8.2% in the 4th quarter. Empowered Funds LLC now owns 606,748 shares of the information technology services provider’s stock worth $5,115,000 after acquiring an additional 46,212 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of Xerox by 5.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,812,102 shares of the information technology services provider’s stock worth $15,276,000 after purchasing an additional 92,495 shares during the last quarter. Sound Income Strategies LLC raised its stake in shares of Xerox by 6.7% in the fourth quarter. Sound Income Strategies LLC now owns 1,102,688 shares of the information technology services provider’s stock worth $9,296,000 after purchasing an additional 69,182 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of Xerox by 2.3% during the third quarter. Geode Capital Management LLC now owns 2,808,775 shares of the information technology services provider’s stock worth $29,161,000 after purchasing an additional 62,947 shares during the period. Finally, Barclays PLC boosted its position in Xerox by 55.5% in the third quarter. Barclays PLC now owns 469,106 shares of the information technology services provider’s stock valued at $4,869,000 after buying an additional 167,500 shares during the last quarter. 85.36% of the stock is currently 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.