Hsbc Holdings PLC Sells 114,485 Shares of Xerox Holdings Co. $XRX

Key Points

• Hsbc Holdings PLC reduced its stake in Xerox Holdings Co. by 71.1% in the 1st quarter, now owning 46,426 shares valued at $224,000.
• Xerox reported a net loss of ($0.64) earnings per share for the latest quarter, missing estimates by ($0.71) and indicating a negative net margin of 21.24%.
• The company has declared a quarterly dividend of $0.025 per share, resulting in an annualized yield of 2.6% set to be paid on October 31st.

Hsbc Holdings PLC decreased its stake in shares of Xerox Holdings Co. (NYSE:XRX - Free Report) by 71.1% during the first quarter, according to its most recent filing with the SEC. The institutional investor owned 46,426 shares of the information technology services provider's stock after selling 114,485 shares during the period. Hsbc Holdings PLC's holdings in Xerox were worth $224,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Yousif Capital Management LLC lifted its holdings in Xerox by 5.7% during the 1st quarter. Yousif Capital Management LLC now owns 56,907 shares of the information technology services provider's stock worth $275,000 after purchasing an additional 3,091 shares in the last quarter. Deutsche Bank AG lifted its holdings in Xerox by 103.8% during the 4th quarter. Deutsche Bank AG now owns 138,852 shares of the information technology services provider's stock worth $1,171,000 after purchasing an additional 70,724 shares in the last quarter. GAMMA Investing LLC lifted its holdings in Xerox by 569.7% during the 1st quarter. GAMMA Investing LLC now owns 7,045 shares of the information technology services provider's stock worth $34,000 after purchasing an additional 5,993 shares in the last quarter. Janney Montgomery Scott LLC purchased a new stake in Xerox during the 1st quarter worth about $72,000. Finally, Nuveen Asset Management LLC raised its holdings in shares of Xerox by 6.4% in the 4th quarter. Nuveen Asset Management LLC now owns 997,349 shares of the information technology services provider's stock valued at $8,408,000 after acquiring an additional 60,283 shares in the last quarter. Hedge funds and other institutional investors own 85.36% of the company's stock.

Xerox Price Performance

Shares of Xerox stock traded up $0.08 during trading on Thursday, hitting $3.70. 4,302,333 shares of the stock traded hands, compared to its average volume of 4,068,958. The company has a quick ratio of 0.84, a current ratio of 1.11 and a debt-to-equity ratio of 2.61. The stock has a market cap of $465.57 million, a price-to-earnings ratio of -0.34 and a beta of 1.77. The firm's fifty day moving average is $4.52 and its 200-day moving average is $4.94. Xerox Holdings Co. has a 52 week low of $3.44 and a 52 week high of $11.29.

Xerox (NYSE:XRX - Get Free Report) last released its earnings results on Thursday, July 31st. The information technology services provider reported ($0.64) EPS for the quarter, missing the consensus estimate of $0.07 by ($0.71). Xerox had a negative net margin of 21.24% and a positive return on equity of 7.57%. During the same quarter in the prior year, the business posted $0.29 EPS. The company's revenue for the quarter was down .1% on a year-over-year basis. Xerox has set its FY 2025 guidance at EPS. Research analysts expect that Xerox Holdings Co. will post 1.07 EPS for the current fiscal year.

Xerox Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, October 31st. Investors of record on Tuesday, September 30th will be given a dividend of $0.025 per share. This represents a $0.10 annualized dividend and a yield of 2.7%. The ex-dividend date is Tuesday, September 30th. Xerox's dividend payout ratio (DPR) is presently -0.87%.

Insider Transactions at Xerox

In related news, Director A. Scott Letier purchased 29,600 shares of Xerox stock in a transaction that occurred on Friday, August 1st. The shares were acquired at an average cost of $3.95 per share, for a total transaction of $116,920.00. Following the transaction, the director directly owned 58,984 shares in the company, valued at $232,986.80. The trade was a 100.74% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 1.50% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several research firms have weighed in on XRX. Zacks Research raised Xerox from a "strong sell" rating to a "hold" rating in a report on Wednesday, September 3rd. Citigroup began coverage on Xerox in a report on Monday, August 18th. They issued a "neutral" rating and a $4.50 price target on the stock. Two equities research analysts have rated the stock with a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Reduce" and an average target price of $6.83.

Xerox 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.