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

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

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. Pacer Advisors Inc. grew its stake in 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 in the last quarter. Geode Capital Management LLC grew its stake 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 purchasing an additional 62,947 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in Xerox by 6.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,719,607 shares of the information technology services provider's stock valued at $17,850,000 after purchasing an additional 107,580 shares in the last quarter. Sound Income Strategies LLC grew its stake in 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 valued at $9,296,000 after purchasing an additional 69,182 shares in the last quarter. Finally, Advisors Asset Management Inc. boosted its stake in shares of Xerox by 9.5% during the 3rd quarter. Advisors Asset Management Inc. now owns 796,609 shares of the information technology services provider's stock worth $8,269,000 after acquiring an additional 69,183 shares in the last quarter. Hedge funds and other institutional investors own 85.36% of the company's stock.

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Xerox Stock Performance

Shares of NYSE XRX traded down $0.01 during trading hours on Tuesday, hitting $5.76. 3,490,423 shares of the company's stock were exchanged, compared to its average volume of 2,354,358. Xerox Holdings Co. has a 1-year low of $5.62 and a 1-year high of $18.18. 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 stock has a market capitalization of $721.62 million, a price-to-earnings ratio of -0.54 and a beta of 1.66. The company's 50-day moving average price is $7.89 and its 200-day moving average price is $8.90.

Xerox Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Investors 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 annualized dividend and a dividend yield of 8.68%. Xerox's dividend payout ratio is presently -4.66%.

Wall Street Analysts Forecast Growth

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

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.