Xerox Holdings Co. (NYSE:XRX) to Issue $0.03 Quarterly Dividend

Xerox Holdings Co. (NYSE:XRX - Get Free Report) announced a quarterly dividend on Thursday, May 22nd, NASDAQ Dividends reports. Investors of record on Monday, June 30th will be paid a dividend of 0.025 per share by the information technology services provider on Thursday, July 31st. This represents a $0.10 dividend on an annualized basis and a dividend yield of 1.89%. The ex-dividend date of this dividend is Monday, June 30th.

Xerox has a dividend payout ratio of 6.7% indicating that its dividend is sufficiently covered by earnings. 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 traded down $0.08 on Friday, reaching $5.28. 4,228,782 shares of the company's stock traded hands, compared to its average volume of 3,107,986. The company has a current ratio of 1.11, a quick ratio of 0.84 and a debt-to-equity ratio of 2.61. The stock has a market cap of $664.17 million, a PE ratio of -0.49 and a beta of 1.81. The stock's 50 day simple moving average is $5.08 and its two-hundred day simple moving average is $6.46. Xerox has a 52-week low of $3.45 and a 52-week high of $12.29.

Xerox (NYSE:XRX - Get Free Report) last issued its quarterly earnings results on Thursday, May 1st. The information technology services provider reported ($0.06) EPS for the quarter, missing analysts' consensus estimates of ($0.03) by ($0.03). Xerox had a negative net margin of 21.24% and a positive return on equity of 7.57%. During the same period in the previous year, the company earned $0.06 EPS. The firm's revenue for the quarter was down 3.0% on a year-over-year basis. On average, analysts forecast that Xerox will post 1.07 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CFO Mirlanda Gecaj bought 10,000 shares of the firm's stock in a transaction on Friday, May 23rd. The stock was acquired at an average cost of $4.41 per share, with a total value of $44,100.00. Following the completion of the transaction, the chief financial officer now directly owns 15,956 shares of the company's stock, valued at $70,365.96. This represents a 167.90% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Steven John Bandrowczak bought 22,300 shares of the firm's stock in a transaction on Friday, May 23rd. The stock was purchased at an average cost of $4.48 per share, with a total value of $99,904.00. Following the completion of the transaction, the chief executive officer now directly owns 382,442 shares of the company's stock, valued at approximately $1,713,340.16. The trade was a 6.19% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders bought 82,300 shares of company stock valued at $364,254 over the last ninety days. 1.50% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Xerox

Several hedge funds have recently made changes to their positions in XRX. AQR Capital Management LLC grew its position in shares of Xerox by 71.7% in the first quarter. AQR Capital Management LLC now owns 345,631 shares of the information technology services provider's stock valued at $1,661,000 after purchasing an additional 144,280 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of Xerox by 4.3% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 69,047 shares of the information technology services provider's stock valued at $333,000 after purchasing an additional 2,838 shares in the last quarter. Goldman Sachs Group Inc. grew its position in shares of Xerox by 37.7% in the first quarter. Goldman Sachs Group Inc. now owns 1,575,229 shares of the information technology services provider's stock valued at $7,608,000 after purchasing an additional 431,349 shares in the last quarter. Empowered Funds LLC grew its position in Xerox by 2.1% during the first quarter. Empowered Funds LLC now owns 619,381 shares of the information technology services provider's stock worth $2,992,000 after buying an additional 12,633 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in Xerox by 9.2% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 600,018 shares of the information technology services provider's stock worth $2,898,000 after purchasing an additional 50,467 shares during the last quarter. 85.36% of the stock is currently owned by hedge funds and other institutional investors.

Xerox Company 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.

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