Koch Industries Inc. Acquires 365,329 Shares of Xerox Corporation (XRX)
Koch Industries Inc. raised its holdings in Xerox Corporation (NYSE:XRX) by 3,616.8% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 375,430 shares of the information technology services provider’s stock after acquiring an additional 365,329 shares during the period. Koch Industries Inc. owned approximately 0.15% of Xerox Corporation worth $363,000 at the end of the most recent quarter.
Other hedge funds have also added to or reduced their stakes in the company. Teachers Advisors LLC raised its holdings in Xerox Corporation by 25.8% in the 1st quarter. Teachers Advisors LLC now owns 8,289,357 shares of the information technology services provider’s stock valued at $60,844,000 after acquiring an additional 1,698,883 shares during the last quarter. AXA raised its holdings in Xerox Corporation by 10.9% in the 2nd quarter. AXA now owns 1,438,621 shares of the information technology services provider’s stock valued at $41,331,000 after acquiring an additional 141,790 shares during the last quarter. Cowen Inc. acquired a new stake in Xerox Corporation in the 2nd quarter valued at about $1,372,000. Principal Financial Group Inc. raised its holdings in Xerox Corporation by 61.1% in the 2nd quarter. Principal Financial Group Inc. now owns 2,182,972 shares of the information technology services provider’s stock valued at $62,715,000 after acquiring an additional 828,269 shares during the last quarter. Finally, OLD Mutual Customised Solutions Proprietary Ltd. raised its holdings in Xerox Corporation by 23.3% in the 1st quarter. OLD Mutual Customised Solutions Proprietary Ltd. now owns 51,800 shares of the information technology services provider’s stock valued at $380,000 after acquiring an additional 9,800 shares during the last quarter. Institutional investors own 84.14% of the company’s stock.
A number of analysts have commented on XRX shares. BidaskClub upgraded shares of Xerox Corporation from a “strong sell” rating to a “sell” rating in a report on Tuesday, June 20th. Barclays PLC reiterated a “sell” rating and issued a $27.00 price objective on shares of Xerox Corporation in a report on Friday, June 23rd. Loop Capital started coverage on shares of Xerox Corporation in a report on Monday, July 24th. They issued a “buy” rating and a $36.00 price objective for the company. ValuEngine downgraded shares of Xerox Corporation from a “buy” rating to a “hold” rating in a report on Tuesday, August 1st. Finally, Citigroup Inc. set a $39.00 price objective on shares of Xerox Corporation and gave the company a “buy” rating in a report on Wednesday, August 2nd. One research analyst has rated the stock with a sell rating, four have issued a hold rating and ten have issued a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $35.67.
Xerox Corporation (NYSE:XRX) traded down 0.559% during mid-day trading on Tuesday, hitting $32.905. 150,232 shares of the stock traded hands. The company’s market cap is $8.36 billion. Xerox Corporation has a 12-month low of $22.90 and a 12-month high of $34.13. The firm’s 50-day moving average is $32.74 and its 200-day moving average is $30.08.
Xerox Corporation (NYSE:XRX) last posted its quarterly earnings data on Tuesday, August 1st. The information technology services provider reported $0.87 earnings per share for the quarter, beating analysts’ consensus estimates of $0.84 by $0.03. Xerox Corporation had a net margin of 4.55% and a return on equity of 15.28%. The business had revenue of $2.57 billion during the quarter, compared to analyst estimates of $2.60 billion. During the same quarter in the previous year, the business posted $0.26 earnings per share. The company’s revenue was down 8.1% on a year-over-year basis. Equities research analysts expect 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. Investors of record on Friday, September 29th will be given a dividend of $0.25 per share. This is a positive change from Xerox Corporation’s previous quarterly dividend of $0.06. The ex-dividend date of this dividend is Thursday, September 28th. This represents a $1.00 annualized dividend and a yield of 3.02%. Xerox Corporation’s dividend payout ratio is 48.31%.
About Xerox Corporation
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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