Xerox (NYSE:XRX) Reaches New 52-Week Low - Time to Sell?

Xerox Holdings Co. (NYSE:XRX - Get Free Report) shares hit a new 52-week low during mid-day trading on Monday . The stock traded as low as $3.71 and last traded at $3.99, with a volume of 4370745 shares traded. The stock had previously closed at $4.00.

Analysts Set New Price Targets

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

Xerox Price Performance

The stock has a market cap of $496.11 million, a PE ratio of -0.37 and a beta of 1.56. The business's 50-day simple moving average is $6.15 and its 200-day simple moving average is $8.13. The company has a quick ratio of 0.84, a current ratio of 1.11 and a debt-to-equity ratio of 2.61.

Xerox Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Monday, March 31st will be given a dividend of $0.125 per share. This represents a $0.50 dividend on an annualized basis and a yield of 12.63%. The ex-dividend date of this dividend is Monday, March 31st. Xerox's payout ratio is -4.66%.

Institutional Investors Weigh In On Xerox

Large investors have recently made changes to their positions in the business. Yousif Capital Management LLC increased its stake in Xerox by 2.8% during the 4th quarter. Yousif Capital Management LLC now owns 53,816 shares of the information technology services provider's stock valued at $454,000 after purchasing an additional 1,486 shares in the last quarter. Franklin Resources Inc. grew its holdings in shares of Xerox by 1.9% during the fourth quarter. Franklin Resources Inc. now owns 95,012 shares of the information technology services provider's stock valued at $801,000 after buying an additional 1,733 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of Xerox by 3.6% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 66,209 shares of the information technology services provider's stock valued at $558,000 after acquiring an additional 2,320 shares in the last quarter. Russell Investments Group Ltd. lifted its position in Xerox by 3.0% in the 4th quarter. Russell Investments Group Ltd. now owns 87,466 shares of the information technology services provider's stock valued at $737,000 after acquiring an additional 2,534 shares in the last quarter. Finally, Picton Mahoney Asset Management boosted 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 during the last quarter. 85.36% of the stock is currently owned by 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.