US Bancorp DE Acquires 1,888 Shares of Xerox Holdings Co. (NYSE:XRX)

US Bancorp DE raised its stake in shares of Xerox Holdings Co. (NYSE:XRX) by 42.3% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 6,353 shares of the information technology services provider’s stock after acquiring an additional 1,888 shares during the quarter. US Bancorp DE’s holdings in Xerox were worth $66,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Sound Income Strategies LLC grew its stake in Xerox by 27.9% in the third quarter. Sound Income Strategies LLC now owns 1,033,506 shares of the information technology services provider’s stock valued at $10,728,000 after purchasing an additional 225,617 shares during the last quarter. Bridgeway Capital Management LLC grew its position in shares of Xerox by 3.5% in the 1st quarter. Bridgeway Capital Management LLC now owns 986,682 shares of the information technology services provider’s stock worth $17,662,000 after buying an additional 33,590 shares during the last quarter. SG Capital Management LLC bought a new position in shares of Xerox during the 1st quarter worth approximately $8,466,000. Edgestream Partners L.P. lifted its position in Xerox by 51.5% during the second quarter. Edgestream Partners L.P. now owns 381,508 shares of the information technology services provider’s stock valued at $4,433,000 after acquiring an additional 129,616 shares during the last quarter. Finally, Caxton Associates LP boosted its stake in Xerox by 34.3% in the second quarter. Caxton Associates LP now owns 362,733 shares of the information technology services provider’s stock valued at $4,215,000 after acquiring an additional 92,687 shares in the last quarter. 85.36% of the stock is currently owned by hedge funds and other institutional investors.

Xerox Stock Performance

Shares of XRX opened at $8.43 on Monday. The stock has a 50-day moving average of $9.82 and a two-hundred day moving average of $11.31. The company has a debt-to-equity ratio of 2.11, a quick ratio of 0.95 and a current ratio of 1.26. The stock has a market cap of $1.05 billion, a P/E ratio of -0.76 and a beta of 1.59. Xerox Holdings Co. has a one year low of $8.02 and a one year high of $19.78.

Xerox (NYSE:XRX) last issued its quarterly earnings results on Tuesday, October 29th. The information technology services provider reported $0.25 earnings per share for the quarter, missing the consensus estimate of $0.51 by ($0.26). The business had revenue of $1.53 billion during the quarter, compared to analyst estimates of $1.63 billion. Xerox had a positive return on equity of 6.60% and a negative net margin of 21.31%. Xerox’s quarterly revenue was down 7.5% compared to the same quarter last year. During the same quarter last year, the company posted $0.46 EPS. As a group, research analysts predict that Xerox Holdings Co. will post 1.38 EPS for the current year.

Xerox Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Tuesday, December 31st will be given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 11.86%. The ex-dividend date is Tuesday, December 31st. Xerox’s dividend payout ratio is currently -9.06%.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the company. JPMorgan Chase & Co. reduced their price target on Xerox from $11.00 to $8.00 and set an “underweight” rating on the stock in a research report on Wednesday, October 30th. StockNews.com lowered Xerox from a “buy” rating to a “hold” rating in a research report on Sunday. Loop Capital lowered their price target on Xerox from $14.00 to $11.00 and set a “hold” rating for the company in a report on Wednesday, August 14th. Finally, Morgan Stanley cut their price objective on shares of Xerox from $10.00 to $8.00 and set an “underweight” rating on the stock in a report on Wednesday, October 30th. Three research analysts have rated the stock with a sell rating and two have issued a hold rating to the company’s stock. Based on data from MarketBeat, Xerox currently has a consensus rating of “Reduce” and an average target price of $9.50.

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.