Xerox (NYSE:XRX) Hits New 52-Week Low - What's Next?

Xerox Holdings Co. (NYSE:XRX - Get Free Report) shares hit a new 52-week low on Thursday . The company traded as low as $6.88 and last traded at $6.93, with a volume of 6189098 shares changing hands. The stock had previously closed at $7.49.

Analysts Set New Price Targets

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

Xerox Stock Performance

The firm has a market capitalization of $801.80 million, a P/E ratio of -0.60 and a beta of 1.59. The stock has a fifty day moving average of $8.54 and a 200-day moving average of $9.29. 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 disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Monday, March 31st will be issued a $0.125 dividend. The ex-dividend date of this dividend is Monday, March 31st. This represents a $0.50 dividend on an annualized basis and a dividend yield of 7.81%. Xerox's dividend payout ratio (DPR) is presently -4.66%.

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Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the business. Pacer Advisors Inc. lifted its position in Xerox by 33.2% during the 3rd quarter. Pacer Advisors Inc. now owns 16,969,127 shares of the information technology services provider's stock worth $176,140,000 after buying an additional 4,228,806 shares in the last quarter. Vanguard Group Inc. raised its holdings in Xerox by 1.3% during the fourth quarter. Vanguard Group Inc. now owns 15,763,679 shares of the information technology services provider's stock worth $132,888,000 after acquiring an additional 199,598 shares in the last quarter. Geode Capital Management LLC boosted its position in Xerox by 2.3% during 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 during the last quarter. Charles Schwab Investment Management Inc. grew its stake in Xerox by 5.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,812,102 shares of the information technology services provider's stock valued at $15,276,000 after purchasing an additional 92,495 shares in the last quarter. Finally, Invesco Ltd. increased its position in shares of Xerox by 5.9% during the 4th quarter. Invesco Ltd. now owns 1,706,086 shares of the information technology services provider's stock worth $14,382,000 after purchasing an additional 94,779 shares during the last quarter. Institutional investors and hedge funds own 85.36% of the company's stock.

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.