American Century Companies Inc. Purchases Shares of 1,870,432 Ingram Micro Holding Corp. (NYSE:INGM)

American Century Companies Inc. purchased a new stake in shares of Ingram Micro Holding Corp. (NYSE:INGM - Free Report) during the 4th quarter, according to its most recent disclosure with the SEC. The fund purchased 1,870,432 shares of the company's stock, valued at approximately $36,268,000. American Century Companies Inc. owned about 0.80% of Ingram Micro at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Rhumbline Advisers bought a new position in Ingram Micro in the fourth quarter valued at about $171,000. Bank of New York Mellon Corp acquired a new position in shares of Ingram Micro in the fourth quarter valued at approximately $207,000. New York State Common Retirement Fund bought a new position in Ingram Micro in the 4th quarter valued at approximately $304,000. Keybank National Association OH acquired a new stake in Ingram Micro during the 4th quarter worth approximately $319,000. Finally, Burkehill Global Management LP bought a new stake in Ingram Micro during the 4th quarter worth approximately $5,526,000.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the stock. JPMorgan Chase & Co. cut their price target on shares of Ingram Micro from $27.00 to $26.00 and set a "neutral" rating on the stock in a report on Wednesday, March 5th. The Goldman Sachs Group cut their target price on Ingram Micro from $33.00 to $29.00 and set a "buy" rating on the stock in a report on Wednesday, March 5th. Jefferies Financial Group decreased their price target on Ingram Micro from $28.00 to $24.00 and set a "buy" rating for the company in a research note on Tuesday, March 25th. Morgan Stanley cut their price objective on Ingram Micro from $27.00 to $26.00 and set an "overweight" rating on the stock in a research note on Wednesday, March 5th. Finally, Royal Bank of Canada increased their target price on shares of Ingram Micro from $26.00 to $28.00 and gave the company an "outperform" rating in a research report on Friday, February 21st. Six investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat, Ingram Micro presently has a consensus rating of "Moderate Buy" and an average target price of $26.64.

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Ingram Micro Trading Up 0.2 %

NYSE:INGM traded up $0.03 during trading hours on Tuesday, reaching $17.77. The company had a trading volume of 293,369 shares, compared to its average volume of 427,108. Ingram Micro Holding Corp. has a twelve month low of $17.30 and a twelve month high of $25.69. The company has a current ratio of 1.40, a quick ratio of 0.96 and a debt-to-equity ratio of 0.93. The stock has a 50-day moving average price of $21.42.

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

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

Ingram Micro Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 25th. Investors of record on Tuesday, March 11th were issued a $0.074 dividend. This represents a $0.30 dividend on an annualized basis and a dividend yield of 1.67%. The ex-dividend date was Tuesday, March 11th.

Ingram Micro 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.