Riverhead Capital Management LLC Sells 573,955 Shares of Xerox Corporation (XRX)
Riverhead Capital Management LLC lowered its holdings in shares of Xerox Corporation (NYSE:XRX) by 77.8% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 163,642 shares of the information technology services provider’s stock after selling 573,955 shares during the period. Riverhead Capital Management LLC owned about 0.06% of Xerox Corporation worth $4,701,000 as of its most recent filing with the SEC.
Other hedge funds have also added to or reduced their stakes in the company. Penserra Capital Management LLC bought a new position in shares of Xerox Corporation during the 2nd quarter valued at $164,000. JFS Wealth Advisors LLC bought a new position in shares of Xerox Corporation during the 2nd quarter valued at $173,000. Columbia Asset Management bought a new position in shares of Xerox Corporation during the 2nd quarter valued at $245,000. Paragon Capital Management Ltd grew its holdings in shares of Xerox Corporation by 201.7% during the 2nd quarter. Paragon Capital Management Ltd now owns 11,588 shares of the information technology services provider’s stock valued at $333,000 after purchasing an additional 7,747 shares during the last quarter. Finally, Delta Lloyd Asset Management N.V. bought a new position in shares of Xerox Corporation during the 2nd quarter valued at $360,000. 83.93% of the stock is currently owned by institutional investors.
Xerox Corporation (NYSE XRX) traded up 1.22% during midday trading on Tuesday, hitting $32.45. 88,179 shares of the stock traded hands. Xerox Corporation has a 52-week low of $24.86 and a 52-week high of $32.99. The firm’s 50-day moving average is $31.81 and its 200-day moving average is $29.43. The company’s market cap is $8.25 billion.
Xerox Corporation (NYSE:XRX) last posted its quarterly earnings results on Tuesday, August 1st. The information technology services provider reported $0.87 EPS for the quarter, topping the Zacks’ consensus estimate of $0.84 by $0.03. The firm had revenue of $2.57 billion for the quarter, compared to analysts’ expectations of $2.60 billion. Xerox Corporation had a net margin of 4.55% and a return on equity of 15.28%. The business’s revenue for the quarter was down 8.1% on a year-over-year basis. During the same period in the prior year, the business posted $0.26 earnings per share. Analysts predict that Xerox Corporation will post $3.36 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 31st. Stockholders of record on Friday, September 29th will be issued a $0.25 dividend. The ex-dividend date is Thursday, September 28th. This is a boost from Xerox Corporation’s previous quarterly dividend of $0.06. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.12%. Xerox Corporation’s dividend payout ratio is presently 12.08%.
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Several equities analysts recently commented on XRX shares. ValuEngine raised shares of Xerox Corporation from a “buy” rating to a “strong-buy” rating in a report on Saturday, June 17th. Morgan Stanley reaffirmed an “overweight” rating and set a $32.00 target price on shares of Xerox Corporation in a report on Saturday, June 3rd. BidaskClub raised shares of Xerox Corporation from a “strong sell” rating to a “sell” rating in a report on Tuesday, June 20th. Barclays PLC reaffirmed a “sell” rating and set a $27.00 target price on shares of Xerox Corporation in a report on Friday, June 23rd. Finally, Zacks Investment Research cut shares of Xerox Corporation from a “hold” rating to a “sell” rating in a research report on Tuesday, June 20th. Four analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Xerox Corporation presently has an average rating of “Buy” and an average price target of $37.45.
Xerox Corporation Profile
Xerox Corporation is a provider of digital print technology and related solutions. The Company has capabilities in imaging and printing, data analytics, and the development of secure and automated solutions to help customers improve productivity. The Company’s primary offerings span three main areas: Managed Document Services, Workplace Solutions and Graphic Communications.
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