New York State Teachers Retirement System Sells 8,412 Shares of Xerox Holdings Co. (NYSE:XRX)

New York State Teachers Retirement System reduced its holdings in shares of Xerox Holdings Co. (NYSE:XRX) by 6.6% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 118,130 shares of the information technology services provider’s stock after selling 8,412 shares during the quarter. New York State Teachers Retirement System owned approximately 0.09% of Xerox worth $996,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of the company. Empowered Funds LLC increased its position in Xerox by 8.2% in the fourth quarter. Empowered Funds LLC now owns 606,748 shares of the information technology services provider’s stock worth $5,115,000 after buying an additional 46,212 shares during the last quarter. Vest Financial LLC purchased a new stake in Xerox in the fourth quarter worth $97,000. Yousif Capital Management LLC increased its position 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 worth $454,000 after buying an additional 1,486 shares during the last quarter. Prism Advisors Inc. purchased a new position in shares of Xerox in the fourth quarter valued at $103,000. Finally, KBC Group NV grew its position in shares of Xerox by 84.5% in the fourth quarter. KBC Group NV now owns 9,223 shares of the information technology services provider’s stock valued at $78,000 after purchasing an additional 4,224 shares in the last quarter. 85.36% of the stock is owned by hedge funds and other institutional investors.

Xerox Stock Up 0.5 %

XRX stock opened at $7.89 on Monday. Xerox Holdings Co. has a fifty-two week low of $7.70 and a fifty-two week high of $19.48. The business’s 50 day moving average price is $8.68 and its two-hundred day moving average price is $9.39. The company has a debt-to-equity ratio of 2.61, a quick ratio of 0.84 and a current ratio of 1.11. The company has a market capitalization of $981.31 million, a price-to-earnings ratio of -0.73 and a beta of 1.59.

Xerox Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Monday, March 31st will be issued a dividend of $0.125 per share. The ex-dividend date is Monday, March 31st. This represents a $0.50 dividend on an annualized basis and a dividend yield of 6.34%. Xerox’s dividend payout ratio (DPR) is -4.66%.

Wall Street Analyst Weigh In

XRX has been the subject of several recent research reports. StockNews.com cut Xerox from a “buy” rating to a “hold” rating in a research report on Wednesday, February 5th. Morgan Stanley dropped their price objective on Xerox from $10.00 to $8.00 and set an “underweight” rating for the company in a research note on Wednesday, October 30th. Finally, JPMorgan Chase & Co. dropped their price objective on Xerox from $11.00 to $8.00 and set an “underweight” rating for the company in a research note on Wednesday, October 30th. Three analysts have rated the stock with a sell rating and two have issued a hold rating to the company’s stock. According to MarketBeat, Xerox currently has a consensus rating of “Reduce” and a consensus target price of $9.50.

Xerox 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.