New York State Common Retirement Fund Takes $304,000 Position in Ingram Micro Holding Corp. (NYSE:INGM)

New York State Common Retirement Fund bought a new position in shares of Ingram Micro Holding Corp. (NYSE:INGM - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 15,700 shares of the company's stock, valued at approximately $304,000.

Separately, Allspring Global Investments Holdings LLC acquired a new position in Ingram Micro during the fourth quarter worth $17,432,000.

Wall Street Analysts Forecast Growth

INGM has been the topic of several research reports. Royal Bank of Canada upped their price objective on shares of Ingram Micro from $26.00 to $28.00 and gave the company an "outperform" rating in a report on Friday, February 21st. The Goldman Sachs Group decreased their price objective on shares of Ingram Micro from $33.00 to $29.00 and set a "buy" rating on the stock in a report on Wednesday. William Blair initiated coverage on shares of Ingram Micro in a report on Monday, November 18th. They issued an "outperform" rating on the stock. Evercore ISI decreased their price objective on shares of Ingram Micro from $27.00 to $26.00 and set an "in-line" rating on the stock in a report on Wednesday. Finally, Morgan Stanley decreased their price objective on shares of Ingram Micro from $27.00 to $26.00 and set an "overweight" rating on the stock in a report on Wednesday. Six research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $27.29.

Remove Ads

Ingram Micro Trading Up 0.7 %

INGM traded up $0.13 on Friday, hitting $19.59. 494,395 shares of the stock were exchanged, compared to its average volume of 419,111. Ingram Micro Holding Corp. has a 12 month low of $18.90 and a 12 month high of $25.69. The company has a 50-day moving average of $21.96. The company has a quick ratio of 0.96, a current ratio of 1.40 and a debt-to-equity ratio of 0.93.

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

Ingram Micro Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 25th. Investors of record on Tuesday, March 11th will be given a dividend of $0.074 per share. The ex-dividend date is Tuesday, March 11th. This represents a $0.30 annualized dividend and a yield of 1.51%.

Ingram Micro declared that its board has approved a share repurchase program on Tuesday, March 4th that authorizes the company to repurchase $75.00 million in shares. This repurchase authorization authorizes the company to reacquire up to 1.5% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company's management believes its shares are undervalued.

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.