Mutual of America Capital Management LLC Lowers Holdings in Xerox Holdings Co. (NYSE:XRX)

Mutual of America Capital Management LLC trimmed its holdings in Xerox Holdings Co. (NYSE:XRX) by 7.4% in the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 17,390 shares of the information technology services provider’s stock after selling 1,391 shares during the period. Mutual of America Capital Management LLC’s holdings in Xerox were worth $181,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the business. SummerHaven Investment Management LLC boosted its position in shares of Xerox by 2.4% during the second quarter. SummerHaven Investment Management LLC now owns 47,430 shares of the information technology services provider’s stock worth $551,000 after buying an additional 1,110 shares during the period. Los Angeles Capital Management LLC boosted its holdings in Xerox by 5.9% in the second quarter. Los Angeles Capital Management LLC now owns 23,930 shares of the information technology services provider’s stock valued at $278,000 after purchasing an additional 1,327 shares during the period. CWM LLC boosted its holdings in Xerox by 155.5% in the second quarter. CWM LLC now owns 2,264 shares of the information technology services provider’s stock valued at $26,000 after purchasing an additional 1,378 shares during the period. Louisiana State Employees Retirement System boosted its holdings in Xerox by 2.7% in the second quarter. Louisiana State Employees Retirement System now owns 57,500 shares of the information technology services provider’s stock valued at $668,000 after purchasing an additional 1,500 shares during the period. Finally, The Manufacturers Life Insurance Company boosted its holdings in Xerox by 2.6% in the second quarter. The Manufacturers Life Insurance Company now owns 63,666 shares of the information technology services provider’s stock valued at $740,000 after purchasing an additional 1,627 shares during the period. 85.36% of the stock is currently owned by hedge funds and other institutional investors.

Xerox Stock Up 0.9 %

XRX opened at $9.14 on Friday. The business’s 50-day simple moving average is $9.54 and its 200-day simple moving average is $11.05. The company has a debt-to-equity ratio of 2.11, a quick ratio of 0.95 and a current ratio of 1.26. Xerox Holdings Co. has a one year low of $8.02 and a one year high of $19.78. The stock has a market capitalization of $1.14 billion, a P/E ratio of -0.83 and a beta of 1.59.

Xerox (NYSE:XRX) last posted its earnings results on Tuesday, October 29th. The information technology services provider reported $0.25 EPS for the quarter, missing analysts’ consensus estimates of $0.51 by ($0.26). Xerox had a positive return on equity of 6.60% and a negative net margin of 21.31%. The firm had revenue of $1.53 billion for the quarter, compared to analyst estimates of $1.63 billion. During the same quarter last year, the firm posted $0.46 EPS. The firm’s revenue for the quarter was down 7.5% on a year-over-year basis. Analysts anticipate that Xerox Holdings Co. will post 1.12 EPS for the current year.

Xerox Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Tuesday, December 31st will be issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 10.94%. The ex-dividend date of this dividend is Tuesday, December 31st. Xerox’s dividend payout ratio is currently -9.06%.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on XRX. Loop Capital decreased their target price on Xerox from $14.00 to $11.00 and set a “hold” rating for the company in a report on Wednesday, August 14th. Morgan Stanley decreased their target price on Xerox from $10.00 to $8.00 and set an “underweight” rating for the company in a report on Wednesday, October 30th. StockNews.com upgraded Xerox from a “hold” rating to a “buy” rating in a research note on Tuesday. Finally, JPMorgan Chase & Co. cut their price target on Xerox from $11.00 to $8.00 and set an “underweight” rating on the stock in a research note on Wednesday, October 30th. Three analysts have rated the stock with a sell rating, one has assigned a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $9.50.

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.