Bank of New York Mellon Corp Cuts Stake in Xerox Holdings Co. (NYSE:XRX)

Bank of New York Mellon Corp trimmed its stake in Xerox Holdings Co. (NYSE:XRX - Free Report) by 53.5% during the fourth quarter, according to its most recent 13F filing with the SEC. 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 about 0.71% of Xerox worth $7,429,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in XRX. Advisors Asset Management Inc. grew its holdings in shares of Xerox by 9.5% in the third quarter. Advisors Asset Management Inc. now owns 796,609 shares of the information technology services provider's stock valued at $8,269,000 after purchasing an additional 69,183 shares in the last quarter. Empowered Funds LLC grew its holdings in Xerox by 8.2% during the 4th quarter. Empowered Funds LLC now owns 606,748 shares of the information technology services provider's stock worth $5,115,000 after acquiring an additional 46,212 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in Xerox by 6.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,719,607 shares of the information technology services provider's stock worth $17,850,000 after acquiring an additional 107,580 shares in the last quarter. Sound Income Strategies LLC grew its holdings in Xerox by 6.7% during the 4th quarter. Sound Income Strategies LLC now owns 1,102,688 shares of the information technology services provider's stock worth $9,296,000 after acquiring an additional 69,182 shares in the last quarter. Finally, Geode Capital Management LLC grew its holdings in Xerox by 2.3% during the 3rd quarter. Geode Capital Management LLC now owns 2,808,775 shares of the information technology services provider's stock worth $29,161,000 after acquiring an additional 62,947 shares in the last quarter. 85.36% of the stock is owned by hedge funds and other institutional investors.

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Analyst Ratings Changes

Separately, StockNews.com cut shares of Xerox from a "buy" rating to a "hold" rating in a report 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 stock. According to MarketBeat, Xerox presently has a consensus rating of "Reduce" and an average price target of $9.50.

Xerox Stock Up 1.8 %

Shares of NYSE:XRX traded up $0.11 during trading on Tuesday, hitting $5.88. 365,271 shares of the company were exchanged, compared to its average volume of 2,340,806. The firm's 50 day moving average price is $7.95 and its 200-day moving average price is $8.94. Xerox Holdings Co. has a 12-month low of $5.62 and a 12-month high of $18.18. The stock has a market capitalization of $736.03 million, a P/E ratio of -0.55 and a beta of 1.66. The company has a debt-to-equity ratio of 2.61, a current ratio of 1.11 and a quick ratio of 0.84.

Xerox Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Monday, March 31st will be given a $0.125 dividend. The ex-dividend date is Monday, March 31st. This represents a $0.50 annualized dividend and a yield of 8.51%. Xerox's dividend payout ratio (DPR) is -4.66%.

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.