Xerox Corp. (XRX) Valuation Declined While Hanson & Doremus Investment Management Decreased by $3.96 Million Its Holding; Peoples Financial Services Boosted Its Kellogg Co Com (K) Position by $393,300 as Stock Price Declined

October 20, 2017 - By Dolores Ford

Hanson & Doremus Investment Management decreased its stake in Xerox Corp. (XRX) by 75.12% based on its latest 2017Q2 regulatory filing with the SEC. Hanson & Doremus Investment Management sold 141,472 shares as the company’s stock declined 5.91% while stock markets rallied. The institutional investor held 46,861 shares of the business services company at the end of 2017Q2, valued at $1.35 million, down from 188,333 at the end of the previous reported quarter. Hanson & Doremus Investment Management who had been investing in Xerox Corp. for a number of months, seems to be less bullish one the $8.48 billion market cap company. The stock rose 0.77% or $0.26 reaching $33.35. About 1.70 million shares traded or 12.58% up from the average. Xerox Corp (NYSE:XRX) has risen 17.43% since October 20, 2016 and is uptrending. It has outperformed by 0.73% the S&P500.

Peoples Financial Services Corp increased its stake in Kellogg Co Com (K) by 62.64% based on its latest 2017Q2 regulatory filing with the SEC. Peoples Financial Services Corp bought 5,700 shares as the company’s stock declined 2.57% while stock markets rallied. The institutional investor held 14,800 shares of the packaged foods company at the end of 2017Q2, valued at $1.03 million, up from 9,100 at the end of the previous reported quarter. Peoples Financial Services Corp who had been investing in Kellogg Co Com for a number of months, seems to be bullish on the $21.21B market cap company. The stock decreased 0.42% or $0.26 on October 20, reaching $61.46. About 3.00M shares traded. Kellogg Company (NYSE:K) has declined 5.60% since October 20, 2016 and is downtrending. It has underperformed by 22.30% the S&P500.

More recent Xerox Corp (NYSE:XRX) news were published by: Reuters.com which released: “DIARY-US EARNINGS WEEK AHEAD” on October 20, 2017. Also Streetinsider.com published the news titled: “Xerox Corp. (XRX) Declares $0.25 Quarterly Dividend; 14.4% Yield” on October 17, 2017. Institutionalinvestor.com‘s news article titled: “Xerox’s Chief Investment Officer Retires” with publication date: October 02, 2017 was also an interesting one.

Hanson & Doremus Investment Management, which manages about $317.08M and $270.64M US Long portfolio, upped its stake in Teva Pharma Ind Adr (NYSE:TEVA) by 10,020 shares to 59,528 shares, valued at $1.98M in 2017Q2, according to the filing. It also increased its holding in Vanguard Ftse Emerg Mkts Etf (VWO) by 8,262 shares in the quarter, for a total of 40,490 shares, and has risen its stake in Vanguard Short Term Bd Idx Etf (BSV).

Investors sentiment decreased to 0.01 in Q2 2017. Its down 1.00, from 1.01 in 2017Q1. It worsened, as 403 investors sold XRX shares while 22 reduced holdings. 2 funds opened positions while 1 raised stakes. 29.05 million shares or 96.44% less from 815.80 million shares in 2017Q1 were reported. Hanson Doremus Invest Management invested in 0.5% or 46,861 shares. Columbia Asset Management stated it has 0.08% in Xerox Corp (NYSE:XRX). Moreover, Pictet Asset Management Limited has 0.02% invested in Xerox Corp (NYSE:XRX) for 698,592 shares. 54,393 were accumulated by Fdx Inc. Riggs Asset Managment Com Inc holds 1 shares. Fruth Management holds 12,633 shares. Meag Munich Ergo Kapitalanlagegesellschaft Mbh invested 0.04% in Xerox Corp (NYSE:XRX). Valueworks Limited Com has 2.88% invested in Xerox Corp (NYSE:XRX). Nelson Roberts Invest Advsrs Ltd has invested 0% of its portfolio in Xerox Corp (NYSE:XRX). Altfest L J & stated it has 0.14% in Xerox Corp (NYSE:XRX). Icahn Carl C holds 3.64% or 24.76M shares. Dreman Value Management L L C owns 0.18% invested in Xerox Corp (NYSE:XRX) for 43,907 shares. Jacobs Levy Equity reported 0.03% stake. Cibc Mkts has invested 0.16% of its portfolio in Xerox Corp (NYSE:XRX). Timber Creek Cap Ltd Liability Corporation reported 0% in Xerox Corp (NYSE:XRX).

Among 12 analysts covering Xerox Corporation (NYSE:XRX), 8 have Buy rating, 1 Sell and 3 Hold. Therefore 67% are positive. Xerox Corporation had 29 analyst reports since July 28, 2015 according to SRatingsIntel. Credit Suisse maintained it with “Buy” rating and $8 target in Monday, April 3 report. The firm earned “Outperform” rating on Wednesday, August 2 by Credit Suisse. The company was upgraded on Monday, August 17 by TheStreet. Barclays Capital initiated Xerox Corp (NYSE:XRX) on Wednesday, October 14 with “Underweight” rating. The stock of Xerox Corp (NYSE:XRX) has “Buy” rating given on Wednesday, August 2 by Citigroup. Morgan Stanley downgraded Xerox Corp (NYSE:XRX) on Monday, November 7 to “Underweight” rating. Goldman Sachs upgraded Xerox Corp (NYSE:XRX) on Tuesday, January 10 to “Buy” rating. The company was maintained on Tuesday, April 26 by JP Morgan. The firm has “Equal-Weight” rating by Morgan Stanley given on Tuesday, April 26. The firm earned “Overweight” rating on Thursday, January 12 by Morgan Stanley.

Analysts await Xerox Corp (NYSE:XRX) to report earnings on October, 27. They expect $0.79 EPS, down 26.85% or $0.29 from last year’s $1.08 per share. XRX’s profit will be $200.76 million for 10.56 P/E if the $0.79 EPS becomes a reality. After $0.87 actual EPS reported by Xerox Corp for the previous quarter, Wall Street now forecasts -9.20% negative EPS growth.

Since May 8, 2017, it had 0 buys, and 3 insider sales for $7.18 million activity. 25,000 Kellogg Company (NYSE:K) shares with value of $1.85M were sold by KELLOGG W K FOUNDATION TRUST. 4,900 Kellogg Company (NYSE:K) shares with value of $352,140 were sold by DILLON JOHN T.

Investors sentiment decreased to 0.83 in 2017 Q2. Its down 0.04, from 0.87 in 2017Q1. It dived, as 58 investors sold K shares while 213 reduced holdings. 53 funds opened positions while 172 raised stakes. 296.50 million shares or 2.70% more from 288.72 million shares in 2017Q1 were reported. Walleye Trading Lc reported 3,369 shares or 0% of all its holdings. Company Comml Bank invested in 0.04% or 39,831 shares. At Retail Bank invested in 0.04% or 4,408 shares. Manchester Ltd reported 954 shares. Mcf Advsrs Limited Company holds 0% or 26 shares in its portfolio. Schroder Invest Management Grp holds 0.19% of its portfolio in Kellogg Company (NYSE:K) for 1.56M shares. Uss has 0.06% invested in Kellogg Company (NYSE:K). Oregon Employees Retirement Fund accumulated 26,386 shares. Gfs Advsr Limited holds 11,600 shares or 0.18% of its portfolio. Employees Retirement System Of Texas has 15,000 shares. 77,329 are held by Charter Tru Co. Tocqueville Asset Mgmt LP stated it has 6,540 shares or 0.01% of all its holdings. Dowling Yahnke Lc holds 0.15% or 19,892 shares. American National Insurance Company Tx holds 36,620 shares. California State Teachers Retirement Sys accumulated 465,181 shares.

Among 21 analysts covering Kellogg Company (NYSE:K), 8 have Buy rating, 1 Sell and 12 Hold. Therefore 38% are positive. Kellogg Company had 52 analyst reports since August 5, 2015 according to SRatingsIntel. As per Monday, October 26, the company rating was initiated by Susquehanna. The firm has “Hold” rating by RBC Capital Markets given on Tuesday, September 5. The stock of Kellogg Company (NYSE:K) has “Outperform” rating given on Thursday, July 21 by Credit Suisse. As per Monday, July 24, the company rating was maintained by Stifel Nicolaus. The stock has “Equal-Weight” rating by Morgan Stanley on Friday, October 13. RBC Capital Markets maintained the shares of K in report on Friday, May 5 with “Sector Perform” rating. The stock has “Hold” rating by Susquehanna on Friday, May 5. CLSA upgraded the stock to “Outperform” rating in Friday, January 8 report. The stock of Kellogg Company (NYSE:K) has “Buy” rating given on Friday, August 5 by Citigroup. RBC Capital Markets maintained it with “Sector Perform” rating and $81 target in Friday, August 4 report.

Peoples Financial Services Corp, which manages about $170.75M US Long portfolio, decreased its stake in Mcdonalds Corp Com (NYSE:MCD) by 2,500 shares to 24,398 shares, valued at $3.74M in 2017Q2, according to the filing.

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