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

Xerox Holdings Co. (NYSE:XRX) shares hit a new 52-week low on Monday . The company traded as low as $4.75 and last traded at $4.77, with a volume of 1346312 shares trading hands. The stock had previously closed at $5.01.

Wall Street Analyst Weigh In

Separately, StockNews.com downgraded shares of Xerox from a “buy” rating to a “hold” rating in a research note on Wednesday, February 5th. Three equities research 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, the stock has a consensus rating of “Reduce” and a consensus target price of $9.50.

Xerox Stock Performance

The company has a market capitalization of $613.25 million, a PE ratio of -0.46 and a beta of 1.66. 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 business’s 50-day moving average is $7.32 and its 200-day moving average is $8.62.

Xerox Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Monday, March 31st will be paid a $0.125 dividend. The ex-dividend date is Monday, March 31st. This represents a $0.50 annualized dividend and a dividend yield of 10.21%. Xerox’s payout ratio is currently -4.66%.

Hedge Funds Weigh In On Xerox

Large investors have recently modified their holdings of the stock. Picton Mahoney Asset Management increased its stake in Xerox by 330.5% during the 4th 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. bought a new stake in shares of Xerox during the fourth quarter valued at approximately $51,000. KBC Group NV raised its holdings in 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 acquiring an additional 4,224 shares during the last quarter. Marathon Trading Investment Management LLC bought a new position in Xerox in the 4th quarter valued at approximately $84,000. Finally, Sterling Capital Management LLC increased its holdings in shares of Xerox by 48.9% in the 4th quarter. Sterling Capital Management LLC now owns 10,106 shares of the information technology services provider’s stock worth $85,000 after purchasing an additional 3,319 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.