Xerox (NYSE:XRX) Hits New 12-Month Low - Here's What Happened

Shares of Xerox Holdings Co. (NYSE:XRX - Get Free Report) hit a new 52-week low during mid-day trading on Monday . The stock traded as low as $4.75 and last traded at $4.77, with a volume of 1346312 shares trading hands. The stock had previously closed at $5.01.

Analyst Upgrades and Downgrades

Separately, StockNews.com lowered Xerox from a "buy" rating to a "hold" rating in a 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. Based on data from MarketBeat.com, Xerox presently has an average rating of "Reduce" and an average price target of $9.50.

Xerox Stock Performance

The business's 50-day moving average price is $6.94 and its 200-day moving average price is $8.49. The company has a current ratio of 1.11, a quick ratio of 0.84 and a debt-to-equity ratio of 2.61. The stock has a market cap of $501.12 million, a PE ratio of -0.37 and a beta of 1.66.

Xerox Cuts Dividend

The business also recently announced 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 annualized dividend and a yield of 12.50%. The ex-dividend date is Monday, March 31st. Xerox's dividend payout ratio is presently -4.66%.

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Institutional Investors Weigh In On Xerox

Large investors have recently bought and sold shares of the company. Yousif Capital Management LLC boosted its holdings in Xerox by 2.8% in the fourth 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 during the last quarter. Franklin Resources Inc. lifted its holdings in shares of Xerox by 1.9% in the 4th 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 period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of Xerox by 3.6% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 66,209 shares of the information technology services provider's stock worth $558,000 after buying an additional 2,320 shares during the last quarter. Russell Investments Group Ltd. grew its holdings in Xerox by 3.0% during the fourth quarter. Russell Investments Group Ltd. now owns 87,466 shares of the information technology services provider's stock worth $737,000 after acquiring an additional 2,534 shares during the period. Finally, Picton Mahoney Asset Management raised its position in Xerox by 330.5% during the fourth quarter. Picton Mahoney Asset Management now owns 3,758 shares of the information technology services provider's stock valued at $31,000 after acquiring an additional 2,885 shares in the last quarter. Hedge funds and other institutional investors own 85.36% of the company's stock.

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.