JPMorgan Chase & Co. Acquires New Holdings in Ingram Micro Holding Corp. (NYSE:INGM)

JPMorgan Chase & Co. acquired a new stake in Ingram Micro Holding Corp. (NYSE:INGM - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 1,949,117 shares of the company's stock, valued at approximately $37,793,000. JPMorgan Chase & Co. owned approximately 0.83% of Ingram Micro as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in INGM. Rhumbline Advisers acquired a new stake in Ingram Micro during the 4th quarter valued at $171,000. Allspring Global Investments Holdings LLC acquired a new stake in shares of Ingram Micro during the fourth quarter valued at about $17,432,000. New York State Common Retirement Fund purchased a new stake in shares of Ingram Micro during the fourth quarter worth about $304,000. Burkehill Global Management LP purchased a new stake in shares of Ingram Micro during the fourth quarter worth about $5,526,000. Finally, Sei Investments Co. acquired a new position in shares of Ingram Micro in the fourth quarter worth about $4,980,000.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on INGM. Royal Bank of Canada lifted their price objective on Ingram Micro from $26.00 to $28.00 and gave the stock an "outperform" rating in a report on Friday, February 21st. Raymond James dropped their price target on shares of Ingram Micro from $28.00 to $26.00 and set an "outperform" rating for the company in a research note on Wednesday, March 5th. Evercore ISI decreased their price objective on shares of Ingram Micro from $27.00 to $26.00 and set an "in-line" rating for the company in a report on Wednesday, March 5th. The Goldman Sachs Group dropped their target price on shares of Ingram Micro from $33.00 to $29.00 and set a "buy" rating for the company in a research report on Wednesday, March 5th. Finally, Morgan Stanley reduced their price target on shares of Ingram Micro from $27.00 to $26.00 and set an "overweight" rating on the stock in a research report on Wednesday, March 5th. Six analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $26.64.

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Ingram Micro Trading Up 0.5 %

NYSE:INGM traded up $0.08 during midday trading on Friday, reaching $15.39. 465,192 shares of the company traded hands, compared to its average volume of 444,799. Ingram Micro Holding Corp. has a twelve month low of $14.25 and a twelve month high of $25.69. The company has a debt-to-equity ratio of 0.93, a current ratio of 1.40 and a quick ratio of 0.96. The firm has a fifty day moving average of $20.00.

Ingram Micro (NYSE:INGM - Get Free Report) last announced its quarterly earnings results on Tuesday, March 4th. The company reported $0.92 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.91 by $0.01. The firm had revenue of $13.34 billion for the quarter, compared to analyst estimates of $13.21 billion. Equities research analysts predict that Ingram Micro Holding Corp. will post 2.71 EPS for the current year.

Ingram Micro declared that its Board of Directors has initiated a stock buyback program on Tuesday, March 4th that allows the company to buyback $75.00 million in shares. This buyback authorization allows the company to repurchase up to 1.5% of its stock through open market purchases. Stock buyback programs are typically an indication that the company's management believes its stock is undervalued.

Ingram Micro Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 25th. Shareholders of record on Tuesday, March 11th were paid a $0.074 dividend. The ex-dividend date of this dividend was Tuesday, March 11th. This represents a $0.30 annualized dividend and a dividend yield of 1.92%.

Ingram Micro Company Profile

Ingram Micro is a leading solutions provider by revenue for the global information technology (“IT”) ecosystem helping power the world's leading technology brands. With our vast infrastructure and focus on client and endpoint solutions (formerly referred to as commercial & consumer, as described elsewhere in this prospectus), advanced solutions offerings and cloud-based solutions, we enable our business partners to scale and operate more efficiently in the markets they serve.