Bank of Montreal Can Acquires Shares of 641,571 Xerox Corp. (XRX)
Bank of Montreal Can bought a new position in Xerox Corp. (NYSE:XRX) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 641,571 shares of the company’s stock, valued at approximately $6,089,000.
Several other institutional investors also recently made changes to their positions in the company. JPMorgan Chase & Co. raised its position in shares of Xerox Corp. by 79.0% in the first quarter. JPMorgan Chase & Co. now owns 3,015,848 shares of the company’s stock worth $33,657,000 after buying an additional 1,331,226 shares during the last quarter. Old Mutual Global Investors UK Ltd. raised its position in shares of Xerox Corp. by 27,202.2% in the second quarter. Old Mutual Global Investors UK Ltd. now owns 1,255,355 shares of the company’s stock worth $11,913,000 after buying an additional 1,250,757 shares during the last quarter. Wellington Management Group LLP bought a new position in shares of Xerox Corp. during the first quarter worth about $11,357,000. NN Investment Partners Holdings N.V. bought a new position in shares of Xerox Corp. during the first quarter worth about $8,371,000. Finally, TIAA CREF Investment Management LLC raised its position in shares of Xerox Corp. by 13.1% in the first quarter. TIAA CREF Investment Management LLC now owns 6,001,043 shares of the company’s stock worth $66,972,000 after buying an additional 696,558 shares during the last quarter. Institutional investors own 83.90% of the company’s stock.
Shares of Xerox Corp. (NYSE:XRX) traded up 0.61% during midday trading on Monday, reaching $9.96. 4,764,873 shares of the company’s stock traded hands. The stock has a 50-day moving average price of $9.87 and a 200-day moving average price of $9.94. The stock has a market cap of $10.09 billion, a P/E ratio of 26.01 and a beta of 1.28. Xerox Corp. has a 52-week low of $8.48 and a 52-week high of $11.39.
Xerox Corp. (NYSE:XRX) last released its earnings results on Friday, July 29th. The company reported $0.30 EPS for the quarter, beating the consensus estimate of $0.25 by $0.05. Xerox Corp. had a net margin of 2.49% and a return on equity of 12.36%. The firm had revenue of $4.40 billion for the quarter, compared to analyst estimates of $4.39 billion. During the same period last year, the firm earned $0.22 EPS. The business’s quarterly revenue was down 69.8% compared to the same quarter last year. Analysts forecast that Xerox Corp. will post $1.13 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Monday, October 31st. Shareholders of record on Friday, September 30th will be issued a $0.0775 dividend. This represents a $0.31 annualized dividend and a yield of 3.11%. The ex-dividend date of this dividend is Wednesday, September 28th. Xerox Corp.’s dividend payout ratio is currently 75.61%.
XRX has been the topic of a number of research reports. Vetr lowered shares of Xerox Corp. from a “strong-buy” rating to a “hold” rating and set a $9.96 target price on the stock. in a research report on Tuesday, September 13th. Piper Jaffray Cos. reiterated an “overweight” rating on shares of Xerox Corp. in a research report on Saturday, July 2nd. Barclays PLC restated an “underweight” rating and issued a $11.00 price objective (up from $10.00) on shares of Xerox Corp. in a report on Tuesday, August 2nd. SunTrust Banks Inc. initiated coverage on shares of Xerox Corp. in a report on Tuesday, September 13th. They issued a “buy” rating and a $13.00 price objective on the stock. Finally, BMO Capital Markets increased their price objective on shares of Xerox Corp. from $10.00 to $10.50 and gave the company a “market perform” rating in a report on Monday, August 1st. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and three have issued a buy rating to the company’s stock. Xerox Corp. currently has a consensus rating of “Hold” and a consensus price target of $11.10.
In related news, insider Herve Tessler sold 13,000 shares of Xerox Corp. stock in a transaction that occurred on Wednesday, August 3rd. The shares were sold at an average price of $9.89, for a total transaction of $128,570.00. Following the sale, the insider now directly owns 110,319 shares of the company’s stock, valued at approximately $1,091,054.91. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman Ursula M. Burns sold 3,317 shares of Xerox Corp. stock in a transaction that occurred on Monday, August 15th. The shares were sold at an average price of $9.85, for a total transaction of $32,672.45. The disclosure for this sale can be found here. 0.37% of the stock is currently owned by company insiders.
About Xerox Corp.
Xerox Corporation is engaged in imaging, business process, analytics, automation and user-centric insights. The Company’s segments include Services, Document Technology and Other. The Company’s Services segment comprises two types of service offerings: Business Process Outsourcing (BPO) and Document Outsourcing (DO).
Want to see what other hedge funds are holding XRX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Xerox Corp. (NYSE:XRX).
Receive News & Ratings for Xerox Corp. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Xerox Corp. and related companies with MarketBeat.com's FREE daily email newsletter.