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

Xerox Holdings Co. (NYSE:XRX) shares hit 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 traded. The stock had previously closed at $7.85.

Analyst Ratings Changes

Several brokerages have recently issued reports on XRX. StockNews.com cut shares of Xerox from a “buy” rating to a “hold” rating in a research report on Wednesday, February 5th. JPMorgan Chase & Co. reduced their price target on shares of Xerox from $11.00 to $8.00 and set an “underweight” rating on the stock in a research report on Wednesday, October 30th. Finally, Morgan Stanley reduced their price target on shares of Xerox from $10.00 to $8.00 and set an “underweight” rating on the stock in a research report on Wednesday, October 30th. Three 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 currently has an average rating of “Reduce” and an average target price of $9.50.

Xerox Trading Up 0.5 %

The company has a debt-to-equity ratio of 2.61, a current ratio of 1.11 and a quick ratio of 0.84. The firm has a market capitalization of $981.31 million, a PE ratio of -0.73 and a beta of 1.59. The business’s 50-day moving average price is $8.68 and its 200-day moving average price is $9.39.

Xerox Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Monday, March 31st will be given a dividend of $0.125 per share. The ex-dividend date is Monday, March 31st. This represents a $0.50 dividend on an annualized basis and a dividend yield of 6.34%. Xerox’s dividend payout ratio (DPR) is presently -4.66%.

Hedge Funds Weigh In On Xerox

A number of hedge funds have recently modified their holdings of XRX. CWM LLC grew its position in shares of Xerox by 381.3% during the third quarter. CWM LLC now owns 10,897 shares of the information technology services provider’s stock worth $113,000 after acquiring an additional 8,633 shares during the last quarter. Creative Planning acquired a new stake in shares of Xerox during the third quarter worth $225,000. Allspring Global Investments Holdings LLC lifted its holdings in shares of Xerox by 1,960.4% during the third quarter. Allspring Global Investments Holdings LLC now owns 163,163 shares of the information technology services provider’s stock worth $1,694,000 after purchasing an additional 155,244 shares during the period. International Assets Investment Management LLC lifted its holdings in shares of Xerox by 938.0% during the third quarter. International Assets Investment Management LLC now owns 8,304 shares of the information technology services provider’s stock worth $800,000 after purchasing an additional 7,504 shares during the period. Finally, Wealth Enhancement Advisory Services LLC lifted its holdings in shares of Xerox by 24.3% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 17,600 shares of the information technology services provider’s stock worth $183,000 after purchasing an additional 3,444 shares during the period. 85.36% of the stock is currently owned by hedge funds and other institutional investors.

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.