Mackenzie Financial Corp Sells 14,641 Shares of Xerox Holdings Co. (NYSE:XRX)

Mackenzie Financial Corp decreased its holdings in Xerox Holdings Co. (NYSE:XRX) by 58.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 10,328 shares of the information technology services provider’s stock after selling 14,641 shares during the period. Mackenzie Financial Corp’s holdings in Xerox were worth $189,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the business. SG Americas Securities LLC lifted its stake in Xerox by 65.0% during the 3rd quarter. SG Americas Securities LLC now owns 76,258 shares of the information technology services provider’s stock valued at $1,196,000 after acquiring an additional 30,045 shares during the period. State of Alaska Department of Revenue lifted its position in Xerox by 402.9% during the third quarter. State of Alaska Department of Revenue now owns 70,433 shares of the information technology services provider’s stock valued at $1,105,000 after purchasing an additional 56,427 shares during the period. Asset Management One Co. Ltd. bought a new stake in Xerox in the 3rd quarter worth approximately $818,000. Hexagon Capital Partners LLC raised its stake in Xerox by 87.2% during the 3rd quarter. Hexagon Capital Partners LLC now owns 1,627 shares of the information technology services provider’s stock valued at $26,000 after buying an additional 758 shares during the last quarter. Finally, Maryland State Retirement & Pension System purchased a new stake in Xerox during the third quarter valued at $654,000. Hedge funds and other institutional investors own 85.36% of the company’s stock.

Analyst Ratings Changes

Several analysts recently issued reports on the stock. StockNews.com lowered shares of Xerox from a “buy” rating to a “hold” rating in a research report on Wednesday, April 24th. JPMorgan Chase & Co. lowered their price objective on Xerox from $18.00 to $17.00 and set an “underweight” rating on the stock in a research report on Wednesday, April 24th.

Xerox Price Performance

Shares of Xerox stock opened at $13.86 on Tuesday. The company has a current ratio of 1.37, a quick ratio of 1.07 and a debt-to-equity ratio of 1.34. Xerox Holdings Co. has a 12 month low of $12.06 and a 12 month high of $19.78. The stock has a 50 day moving average of $17.14 and a 200 day moving average of $16.29. The firm has a market cap of $1.72 billion, a PE ratio of -8.83 and a beta of 1.56.

Xerox (NYSE:XRX) last posted its earnings results on Tuesday, April 23rd. The information technology services provider reported $0.06 earnings per share for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.29). The business had revenue of $1.50 billion during the quarter, compared to analysts’ expectations of $1.53 billion. Xerox had a negative net margin of 2.74% and a positive return on equity of 7.77%. The company’s revenue for the quarter was down 12.8% compared to the same quarter last year. During the same period last year, the business posted $0.49 earnings per share. On average, research analysts expect that Xerox Holdings Co. will post 2.16 EPS for the current fiscal year.

Xerox Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 30th. Shareholders of record on Friday, March 29th will be given a dividend of $0.25 per share. The ex-dividend date is Wednesday, March 27th. This represents a $1.00 annualized dividend and a yield of 7.22%. Xerox’s dividend payout ratio (DPR) is currently -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.