Dimensional Fund Advisors LP Decreases Position in Xerox Holdings Co. (NYSE:XRX)

Dimensional Fund Advisors LP reduced its stake in Xerox Holdings Co. (NYSE:XRX) by 7.8% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 8,380,118 shares of the information technology services provider’s stock after selling 707,787 shares during the period. Dimensional Fund Advisors LP owned 6.74% of Xerox worth $97,382,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. SummerHaven Investment Management LLC raised its stake in Xerox by 2.4% during the 2nd quarter. SummerHaven Investment Management LLC now owns 47,430 shares of the information technology services provider’s stock worth $551,000 after acquiring an additional 1,110 shares in the last quarter. Texas Permanent School Fund Corp lifted its holdings in shares of Xerox by 1.4% in the 1st quarter. Texas Permanent School Fund Corp now owns 98,961 shares of the information technology services provider’s stock valued at $1,771,000 after purchasing an additional 1,323 shares during the last quarter. Los Angeles Capital Management LLC boosted its position in shares of Xerox by 5.9% in the 2nd 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 grew its stake in Xerox by 155.5% during the 2nd quarter. CWM LLC now owns 2,264 shares of the information technology services provider’s stock worth $26,000 after buying an additional 1,378 shares during the last quarter. Finally, Covestor Ltd increased its position in Xerox by 16.2% during the first quarter. Covestor Ltd now owns 10,512 shares of the information technology services provider’s stock worth $188,000 after buying an additional 1,464 shares during the period. Institutional investors and hedge funds own 85.36% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the stock. StockNews.com upgraded shares of Xerox from a “hold” rating to a “buy” rating in a research report on Thursday, September 5th. Citigroup assumed coverage on shares of Xerox in a research report on Friday, June 28th. They set a “sell” rating and a $11.00 price objective on the stock. Finally, Loop Capital reduced their target price on shares of Xerox from $14.00 to $11.00 and set a “hold” rating for the company in a report on Wednesday, August 14th. Three research analysts have rated the stock with a sell rating, one has given a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat, Xerox presently has a consensus rating of “Hold” and a consensus price target of $12.75.

Xerox Stock Performance

NYSE:XRX opened at $10.24 on Wednesday. The firm has a market cap of $1.27 billion, a price-to-earnings ratio of -6.52 and a beta of 1.57. The company has a debt-to-equity ratio of 1.34, a current ratio of 1.49 and a quick ratio of 1.13. Xerox Holdings Co. has a 1-year low of $9.51 and a 1-year high of $19.78. The firm’s fifty day moving average price is $10.63 and its 200 day moving average price is $13.13.

Xerox (NYSE:XRX) last issued its quarterly earnings results on Thursday, July 25th. The information technology services provider reported $0.29 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.14). The firm had revenue of $1.58 billion for the quarter, compared to analyst estimates of $1.60 billion. Xerox had a positive return on equity of 7.33% and a negative net margin of 1.60%. The company’s revenue was down 10.0% compared to the same quarter last year. During the same quarter last year, the firm earned $0.44 earnings per share. On average, sell-side analysts expect that Xerox Holdings Co. will post 1.79 EPS for the current year.

Xerox Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Monday, September 30th will be paid a $0.25 dividend. The ex-dividend date of this dividend is Monday, September 30th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 9.77%. Xerox’s dividend payout ratio (DPR) is presently -63.69%.

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.