Cutler Capital Management LLC decreased its position in shares of Xerox Corp. (NYSE:XRX) by 10.0% during the second quarter, Holdings Channel reports. The fund owned 27,000 shares of the company’s stock after selling 3,000 shares during the period. Cutler Capital Management LLC’s holdings in Xerox Corp. were worth $256,000 at the end of the most recent quarter.
A number of other institutional investors have also recently modified their holdings of the stock. CIBC World Markets Inc. purchased a new position in shares of Xerox Corp. during the second quarter worth about $101,000. Raymond James Trust N.A. raised its position in shares of Xerox Corp. by 10.2% in the second quarter. Raymond James Trust N.A. now owns 11,703 shares of the company’s stock worth $111,000 after buying an additional 1,088 shares during the last quarter. Integrated Investment Consultants LLC raised its position in shares of Xerox Corp. by 14.4% in the second quarter. Integrated Investment Consultants LLC now owns 12,703 shares of the company’s stock worth $120,000 after buying an additional 1,597 shares during the last quarter. Alpha Windward LLC raised its position in shares of Xerox Corp. by 37.8% in the second quarter. Alpha Windward LLC now owns 14,020 shares of the company’s stock worth $133,000 after buying an additional 3,849 shares during the last quarter. Finally, Loomis Sayles & Co. L P raised its position in shares of Xerox Corp. by 722.6% in the first quarter. Loomis Sayles & Co. L P now owns 16,131 shares of the company’s stock worth $180,000 after buying an additional 14,170 shares during the last quarter. 83.90% of the stock is owned by hedge funds and other institutional investors.
Shares of Xerox Corp. (NYSE:XRX) traded up 0.60% during mid-day trading on Monday, hitting $9.98. The stock had a trading volume of 9,877,467 shares. Xerox Corp. has a 12-month low of $8.48 and a 12-month high of $11.39. The stock’s 50-day moving average price is $9.81 and its 200-day moving average price is $9.98. The stock has a market capitalization of $10.11 billion, a price-to-earnings ratio of 26.06 and a beta of 1.36.
Xerox Corp. (NYSE:XRX) last posted its quarterly earnings data on Friday, July 29th. The company reported $0.30 earnings per share for the quarter, topping 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 earned $4.40 billion during the quarter, compared to analysts’ expectations of $4.39 billion. During the same quarter in the previous year, the company posted $0.22 EPS. Xerox Corp.’s revenue was down 69.8% on a year-over-year basis. On average, equities analysts anticipate that Xerox Corp. will post $1.13 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 31st. Investors of record on Friday, September 30th will be given a $0.0775 dividend. This represents a $0.31 annualized dividend and a yield of 3.11%. The ex-dividend date is Wednesday, September 28th. Xerox Corp.’s dividend payout ratio (DPR) is presently 75.61%.
A number of brokerages have issued reports on XRX. Barclays PLC reaffirmed an “underweight” rating and set a $11.00 price target (up from $10.00) on shares of Xerox Corp. in a research note on Tuesday, August 2nd. BMO Capital Markets raised their price objective on Xerox Corp. from $10.00 to $10.50 and gave the stock a “market perform” rating in a research note on Monday, August 1st. Piper Jaffray Cos. reissued an “overweight” rating on shares of Xerox Corp. in a research note on Saturday, July 2nd. Vetr lowered Xerox Corp. from a “strong-buy” rating to a “hold” rating and set a $9.96 price objective for the company. in a research note on Tuesday, September 13th. Finally, Brean Capital reissued a “hold” rating on shares of Xerox Corp. in a research note on Monday, June 6th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and two have given a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $11.05.
In other Xerox Corp. news, insider Herve Tessler sold 13,000 shares of the company’s stock in a transaction 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 completion of the sale, the insider now owns 110,319 shares in the company, valued at approximately $1,091,054.91. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Chairman Ursula M. Burns sold 3,317 shares of the company’s stock in a transaction 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 corporate 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).
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