Xerox Holdings Co. (NASDAQ:XRX – Get Free Report) announced a quarterly dividend on Thursday, February 19th. Investors of record on Tuesday, March 31st will be given a dividend of 0.025 per share by the information technology services provider on Thursday, April 30th. This represents a c) annualized dividend and a dividend yield of 5.4%. The ex-dividend date is Tuesday, March 31st.
Xerox has decreased its dividend payment by an average of 0.3%per year over the last three years. Xerox has a payout ratio of 6.7% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Xerox to earn $1.21 per share next year, which means the company should continue to be able to cover its $0.10 annual dividend with an expected future payout ratio of 8.3%.
Xerox Stock Performance
Shares of XRX opened at $1.86 on Friday. The stock has a market capitalization of $238.15 million, a PE ratio of -0.23 and a beta of 1.72. The business’s fifty day moving average price is $2.36 and its 200 day moving average price is $3.05. The company has a debt-to-equity ratio of 8.94, a current ratio of 1.12 and a quick ratio of 0.80. Xerox has a 12-month low of $1.81 and a 12-month high of $8.12.
Hedge Funds Weigh In On Xerox
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Goldman Sachs Group Inc. boosted its position in Xerox by 339.3% during the 4th quarter. Goldman Sachs Group Inc. now owns 9,294,446 shares of the information technology services provider’s stock worth $22,028,000 after acquiring an additional 7,178,915 shares during the period. Marshall Wace LLP increased its holdings in shares of Xerox by 71.0% during the second quarter. Marshall Wace LLP now owns 3,928,444 shares of the information technology services provider’s stock valued at $20,703,000 after purchasing an additional 1,630,999 shares during the period. Charles Schwab Investment Management Inc. raised its stake in shares of Xerox by 32.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,498,232 shares of the information technology services provider’s stock valued at $8,291,000 after purchasing an additional 854,119 shares in the last quarter. Geode Capital Management LLC lifted its holdings in Xerox by 24.4% in the fourth quarter. Geode Capital Management LLC now owns 2,915,580 shares of the information technology services provider’s stock worth $6,911,000 after purchasing an additional 571,715 shares during the period. Finally, Two Sigma Investments LP grew its position in Xerox by 43.2% in the 3rd quarter. Two Sigma Investments LP now owns 2,476,689 shares of the information technology services provider’s stock valued at $9,312,000 after buying an additional 746,582 shares in the last quarter. 85.36% of the stock is owned by institutional investors.
About Xerox
Xerox Holdings Corporation (NYSE: XRX) is a global provider of document management technology and services. The company designs and manufactures a broad range of multifunction printers, production printers, digital presses and related consumables. In addition to its hardware offerings, Xerox delivers software and workflow automation solutions, managed print services and cloud-based document platforms that help organizations optimize their information-intensive processes.
Founded in 1906 as The Haloid Photographic Company, Xerox pioneered xerographic imaging in the late 1940s, launching the first plain-paper copier in 1959.
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