Capital World Investors Acquires New Shares in Ingram Micro Holding Corp. (NYSE:INGM)

Capital World Investors acquired a new position in shares of Ingram Micro Holding Corp. (NYSE:INGM - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 3,522,195 shares of the company's stock, valued at approximately $68,295,000. Capital World Investors owned 1.50% of Ingram Micro at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Allspring Global Investments Holdings LLC bought a new stake in Ingram Micro during the fourth quarter valued at about $17,432,000. Rhumbline Advisers bought a new stake in Ingram Micro during the 4th quarter valued at approximately $171,000. New York State Common Retirement Fund acquired a new stake in Ingram Micro in the 4th quarter valued at approximately $304,000. Bank of New York Mellon Corp bought a new position in Ingram Micro in the 4th quarter worth approximately $207,000. Finally, Keybank National Association OH acquired a new position in shares of Ingram Micro during the fourth quarter worth approximately $319,000.

Analyst Ratings Changes

INGM has been the topic of a number of research reports. Loop Capital dropped their target price on shares of Ingram Micro from $30.00 to $25.00 and set a "buy" rating on the stock in a research report on Monday, March 10th. Morgan Stanley decreased their target price on Ingram Micro from $27.00 to $26.00 and set an "overweight" rating on the stock in a research report on Wednesday, March 5th. JPMorgan Chase & Co. lowered their price target on Ingram Micro from $26.00 to $20.00 and set a "neutral" rating on the stock in a research note on Thursday, April 17th. Evercore ISI reduced their price objective on Ingram Micro from $27.00 to $26.00 and set an "in-line" rating for the company in a research report on Wednesday, March 5th. Finally, Bank of America lowered their price objective on Ingram Micro from $30.00 to $28.00 and set a "buy" 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, the company has an average rating of "Moderate Buy" and an average price target of $26.21.

Ingram Micro Trading Down 0.3 %

INGM stock traded down $0.05 during midday trading on Friday, reaching $17.65. 295,266 shares of the company's stock traded hands, compared to its average volume of 437,331. 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 business has a 50-day moving average of $18.66. Ingram Micro Holding Corp. has a 1-year low of $14.25 and a 1-year high of $25.69.

Ingram Micro (NYSE:INGM - Get Free Report) last announced its quarterly earnings data on Tuesday, March 4th. The company reported $0.92 EPS for the quarter, topping analysts' consensus estimates 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 Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 25th. Shareholders of record on Tuesday, March 11th were issued a dividend of $0.074 per share. This represents a $0.30 dividend on an annualized basis and a yield of 1.68%. The ex-dividend date was Tuesday, March 11th.

Ingram Micro declared that its board has authorized a stock repurchase program on Tuesday, March 4th that permits the company to buyback $75.00 million in outstanding shares. This buyback authorization permits the company to reacquire up to 1.5% of its shares through open market purchases. Shares buyback programs are often a sign that the company's board of directors believes its shares are undervalued.

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.