AQR Capital Management LLC Purchases 76,886 Shares of Xerox Holdings Co. (NYSE:XRX)

AQR Capital Management LLC boosted its position in Xerox Holdings Co. (NYSE:XRX) by 75.2% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 179,118 shares of the information technology services provider’s stock after purchasing an additional 76,886 shares during the period. AQR Capital Management LLC owned about 0.14% of Xerox worth $2,081,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. SummerHaven Investment Management LLC boosted its holdings in shares of Xerox by 2.4% in 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 last quarter. Texas Permanent School Fund Corp boosted its stake in shares of Xerox by 1.4% during the 1st quarter. Texas Permanent School Fund Corp now owns 98,961 shares of the information technology services provider’s stock worth $1,771,000 after acquiring an additional 1,323 shares during the last quarter. Los Angeles Capital Management LLC grew its position in shares of Xerox by 5.9% during 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 acquiring an additional 1,327 shares during the period. CWM LLC increased its stake in shares of Xerox by 155.5% in the 2nd quarter. CWM LLC now owns 2,264 shares of the information technology services provider’s stock worth $26,000 after purchasing an additional 1,378 shares in the last quarter. Finally, Covestor Ltd raised its holdings in Xerox by 16.2% in the 1st quarter. Covestor Ltd now owns 10,512 shares of the information technology services provider’s stock worth $188,000 after purchasing an additional 1,464 shares during the period. 85.36% of the stock is currently owned by institutional investors.

Xerox Stock Performance

NYSE:XRX opened at $10.19 on Wednesday. The stock has a 50-day moving average price of $10.38 and a 200 day moving average price of $12.68. The company has a current ratio of 1.49, a quick ratio of 1.13 and a debt-to-equity ratio of 1.34. Xerox Holdings Co. has a 12-month low of $9.51 and a 12-month high of $19.78. The stock has a market capitalization of $1.27 billion, a P/E ratio of -6.49 and a beta of 1.57.

Xerox (NYSE:XRX) last released its quarterly earnings data on Thursday, July 25th. The information technology services provider reported $0.29 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.43 by ($0.14). Xerox had a negative net margin of 1.60% and a positive return on equity of 7.33%. The company had revenue of $1.58 billion for the quarter, compared to the consensus estimate of $1.60 billion. During the same quarter in the previous year, the business earned $0.44 EPS. The company’s quarterly revenue was down 10.0% on a year-over-year basis. Equities research analysts forecast that Xerox Holdings Co. will post 1.79 EPS for the current fiscal year.

Xerox Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Monday, September 30th will be issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 9.81%. The ex-dividend date is Monday, September 30th. Xerox’s dividend payout ratio (DPR) is presently -63.69%.

Analyst Ratings Changes

A number of brokerages have commented on XRX. Citigroup initiated coverage on Xerox in a research report on Friday, June 28th. They issued a “sell” rating and a $11.00 price target for the company. StockNews.com upgraded shares of Xerox from a “hold” rating to a “buy” rating in a research note on Thursday, September 5th. Finally, Loop Capital dropped their price target on shares of Xerox from $14.00 to $11.00 and set a “hold” rating for the company in a research report on Wednesday, August 14th. Three investment analysts have rated the stock with a sell rating, one has issued a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $12.75.

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.