Bank of New York Mellon Corp Has $7.43 Million Position in Xerox Holdings Co. (NYSE:XRX)

Bank of New York Mellon Corp reduced its position in shares of Xerox Holdings Co. (NYSE:XRX - Free Report) by 53.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 881,280 shares of the information technology services provider's stock after selling 1,014,321 shares during the period. Bank of New York Mellon Corp owned approximately 0.71% of Xerox worth $7,429,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Gladius Capital Management LP acquired a new position in Xerox during the third quarter worth about $29,000. US Bancorp DE grew its holdings in Xerox by 42.3% during the third quarter. US Bancorp DE now owns 6,353 shares of the information technology services provider's stock worth $66,000 after acquiring an additional 1,888 shares during the period. KBC Group NV increased its stake 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 purchasing an additional 4,224 shares in the last quarter. Vest Financial LLC purchased a new position in Xerox in the 4th quarter worth about $97,000. Finally, Prism Advisors Inc. purchased a new position in Xerox in the 4th quarter worth about $103,000. 85.36% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Separately, StockNews.com cut Xerox from a "buy" rating to a "hold" rating in a research note on Wednesday, February 5th. Three investment analysts have rated the stock with a sell rating and two have assigned a hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Reduce" and a consensus target price of $9.50.

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Xerox Stock Down 0.9 %

NYSE:XRX traded down $0.06 on Monday, hitting $5.74. 1,670,879 shares of the company's stock traded hands, compared to its average volume of 3,098,006. The company has a market cap of $718.49 million, a PE ratio of -0.53 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 Holdings Co. has a 1 year low of $5.62 and a 1 year high of $18.18. The firm has a 50-day moving average price of $8.00 and a 200-day moving average price of $8.98.

Xerox Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Monday, March 31st will be issued 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 8.72%. Xerox's dividend payout ratio is -4.66%.

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.