Koch Industries Inc. reduced its stake in Xerox Corp (NYSE:XRX) by 29.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,609 shares of the information technology services provider’s stock after selling 4,797 shares during the period. Koch Industries Inc.’s holdings in Xerox were worth $338,000 at the end of the most recent reporting period.
Other hedge funds also recently modified their holdings of the company. Neuberger Berman Group LLC grew its stake in Xerox by 10.0% in the 3rd quarter. Neuberger Berman Group LLC now owns 58,328 shares of the information technology services provider’s stock worth $1,942,000 after acquiring an additional 5,316 shares in the last quarter. James Investment Research Inc. grew its stake in Xerox by 8,605.1% in the 4th quarter. James Investment Research Inc. now owns 67,029 shares of the information technology services provider’s stock worth $1,954,000 after acquiring an additional 66,259 shares in the last quarter. Barings LLC grew its stake in Xerox by 111.1% in the 4th quarter. Barings LLC now owns 80,193 shares of the information technology services provider’s stock worth $2,338,000 after acquiring an additional 42,200 shares in the last quarter. Macquarie Group Ltd. bought a new position in Xerox in the 3rd quarter worth about $627,000. Finally, Chevy Chase Trust Holdings Inc. bought a new position in Xerox in the 3rd quarter worth about $6,326,000. Institutional investors and hedge funds own 85.84% of the company’s stock.
A number of brokerages have commented on XRX. Standpoint Research restated a “hold” rating on shares of Xerox in a research note on Wednesday, January 31st. Loop Capital restated a “buy” rating on shares of Xerox in a research note on Thursday, February 1st. UBS Group upgraded shares of Xerox from a “neutral” rating to a “buy” rating in a research note on Monday, February 5th. Zacks Investment Research downgraded shares of Xerox from a “hold” rating to a “sell” rating in a research note on Saturday, February 3rd. Finally, JPMorgan Chase & Co. dropped their price objective on shares of Xerox from $41.00 to $40.00 and set an “overweight” rating on the stock in a research note on Tuesday, February 13th. Two analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $35.72.
Xerox Corp (NYSE:XRX) opened at $29.69 on Tuesday. The company has a debt-to-equity ratio of 0.99, a quick ratio of 1.57 and a current ratio of 1.91. Xerox Corp has a one year low of $26.64 and a one year high of $37.42. The stock has a market cap of $7,560.00, a P/E ratio of 13.37 and a beta of 1.20.
Xerox (NYSE:XRX) last released its quarterly earnings data on Wednesday, January 31st. The information technology services provider reported $1.04 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.96 by $0.08. Xerox had a net margin of 1.67% and a return on equity of 17.13%. The firm had revenue of $2.75 billion for the quarter, compared to the consensus estimate of $2.63 billion. During the same period last year, the firm earned $1.00 earnings per share. The company’s quarterly revenue was up .5% on a year-over-year basis. analysts predict that Xerox Corp will post 3.43 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, April 30th. Stockholders of record on Friday, March 30th will be paid a dividend of $0.25 per share. The ex-dividend date of this dividend is Wednesday, March 28th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.37%. Xerox’s dividend payout ratio is presently 45.05%.
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Xerox Company Profile
Xerox Corporation is a provider of digital print technology and related solutions. The Company has capabilities in imaging and printing, data analytics, and the development of secure and automated solutions to help customers improve productivity. The Company’s primary offerings span three main areas: Managed Document Services, Workplace Solutions and Graphic Communications.
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