Xerox (NYSE:XRX) Hits New 52-Week Low – Should You Sell?

Xerox Holdings Co. (NYSE:XRX) shares reached a new 52-week low during mid-day trading on Friday . The stock traded as low as $7.70 and last traded at $7.73, with a volume of 1268657 shares trading hands. The stock had previously closed at $7.85.

Analyst Ratings Changes

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

Xerox Stock Performance

The company has a market cap of $981.31 million, a PE ratio of -0.73 and a beta of 1.59. The firm’s fifty day moving average is $8.68 and its 200 day moving average is $9.39. 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 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. This represents a $0.50 dividend on an annualized basis and a dividend yield of 6.34%. The ex-dividend date of this dividend is Monday, March 31st. Xerox’s dividend payout ratio is currently -4.66%.

Institutional Investors Weigh In On Xerox

A number of hedge funds have recently modified their holdings of the company. Pacer Advisors Inc. grew its holdings in shares of Xerox by 33.2% in the third quarter. Pacer Advisors Inc. now owns 16,969,127 shares of the information technology services provider’s stock valued at $176,140,000 after purchasing an additional 4,228,806 shares during the period. Vanguard Group Inc. lifted its position in Xerox by 1.3% in the fourth quarter. Vanguard Group Inc. now owns 15,763,679 shares of the information technology services provider’s stock valued at $132,888,000 after buying an additional 199,598 shares during the last quarter. Geode Capital Management LLC lifted its position in Xerox by 2.3% in the third quarter. Geode Capital Management LLC now owns 2,808,775 shares of the information technology services provider’s stock valued at $29,161,000 after buying an additional 62,947 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in 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 valued at $15,276,000 after buying an additional 92,495 shares during the last quarter. Finally, Invesco Ltd. lifted its position in Xerox by 5.9% in the fourth quarter. Invesco Ltd. now owns 1,706,086 shares of the information technology services provider’s stock valued at $14,382,000 after buying an additional 94,779 shares during the last quarter. Hedge funds and other institutional investors own 85.36% of the company’s stock.

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.