Xerox Holdings Co. (NYSE:XRX) Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp trimmed its position in Xerox Holdings Co. (NYSE:XRX – Get Rating) by 1.1% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,729,021 shares of the information technology services provider’s stock after selling 30,893 shares during the period. Bank of New York Mellon Corp’s holdings in Xerox were worth $35,696,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently made changes to their positions in the company. Icahn Carl C grew its position in Xerox by 6.6% during the 2nd quarter. Icahn Carl C now owns 34,245,314 shares of the information technology services provider’s stock worth $508,543,000 after purchasing an additional 2,130,423 shares during the period. Dimensional Fund Advisors LP grew its position in Xerox by 3.2% during the 3rd quarter. Dimensional Fund Advisors LP now owns 8,789,522 shares of the information technology services provider’s stock worth $114,969,000 after purchasing an additional 276,407 shares during the period. State Street Corp grew its position in Xerox by 14.8% during the 2nd quarter. State Street Corp now owns 4,706,349 shares of the information technology services provider’s stock worth $71,049,000 after purchasing an additional 607,148 shares during the period. JPMorgan Chase & Co. grew its position in Xerox by 256.1% during the 2nd quarter. JPMorgan Chase & Co. now owns 1,997,708 shares of the information technology services provider’s stock worth $29,665,000 after purchasing an additional 1,436,711 shares during the period. Finally, Northern Trust Corp grew its position in Xerox by 45.5% during the 2nd quarter. Northern Trust Corp now owns 1,542,673 shares of the information technology services provider’s stock worth $22,908,000 after purchasing an additional 482,478 shares during the period. 81.66% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts have weighed in on XRX shares. Loop Capital increased their price target on Xerox from $15.00 to $17.00 in a research report on Monday, January 30th. TheStreet upgraded Xerox from a “d+” rating to a “c-” rating in a research report on Wednesday, February 1st. Finally, StockNews.com upgraded Xerox from a “hold” rating to a “buy” rating in a research report on Tuesday, January 31st. Four investment analysts have rated the stock with a sell rating and one has given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Reduce” and a consensus target price of $13.00.

Xerox Price Performance

NYSE:XRX opened at $14.96 on Tuesday. The stock has a market capitalization of $2.34 billion, a PE ratio of -6.89 and a beta of 1.68. Xerox Holdings Co. has a 52 week low of $11.80 and a 52 week high of $20.99. The stock’s 50-day moving average price is $16.52 and its 200-day moving average price is $15.71. The company has a quick ratio of 0.99, a current ratio of 1.23 and a debt-to-equity ratio of 0.85.

Xerox (NYSE:XRX – Get Rating) last issued its quarterly earnings results on Thursday, January 26th. The information technology services provider reported $0.89 earnings per share for the quarter, beating analysts’ consensus estimates of $0.54 by $0.35. The firm had revenue of $1.94 billion for the quarter, compared to analyst estimates of $1.90 billion. Xerox had a negative net margin of 4.53% and a positive return on equity of 5.15%. Xerox’s quarterly revenue was up 9.2% compared to the same quarter last year. During the same period last year, the company posted $0.34 EPS. As a group, equities analysts expect that Xerox Holdings Co. will post 1.21 EPS for the current fiscal year.

Xerox Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, May 1st. Investors of record on Friday, March 31st will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 6.68%. The ex-dividend date of this dividend is Thursday, March 30th. Xerox’s dividend payout ratio is presently -46.08%.

Xerox Profile

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Xerox Holdings Corporation, a workplace technology company, designs, develops, and sells document management systems and solutions in the United States, Europe, Canada, and internationally. It offers workplace solutions, including desktop monochrome, and color and multifunction printers; digital printing presses and light production devices, and solutions; and digital services that leverage workflow automation, personalization and communication software, content management solutions, and digitization services.