Wellington Management Group LLP Purchases New Shares in Ingram Micro Holding Corp. (NYSE:INGM)

Wellington Management Group LLP purchased a new position in Ingram Micro Holding Corp. (NYSE:INGM - Free Report) during the 4th quarter, according to its most recent 13F filing with the SEC. The firm purchased 1,390,874 shares of the company's stock, valued at approximately $26,969,000. Wellington Management Group LLP owned about 0.59% of Ingram Micro at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Victory Capital Management Inc. acquired a new position in Ingram Micro in the fourth quarter worth about $53,532,000. JPMorgan Chase & Co. bought a new position in shares of Ingram Micro during the 4th quarter worth approximately $37,793,000. American Century Companies Inc. acquired a new stake in Ingram Micro in the 4th quarter valued at $36,268,000. Norges Bank bought a new stake in Ingram Micro in the fourth quarter valued at $26,190,000. Finally, Allspring Global Investments Holdings LLC acquired a new position in Ingram Micro during the fourth quarter worth $17,432,000.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the company. Morgan Stanley decreased their price target 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. 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, March 5th. Jefferies Financial Group dropped their target price on shares of Ingram Micro from $28.00 to $24.00 and set a "buy" rating for the company in a research note on Tuesday, March 25th. Royal Bank of Canada boosted their price objective on shares of Ingram Micro from $26.00 to $28.00 and gave the stock an "outperform" rating in a research report on Friday, February 21st. Finally, Bank of America dropped their price objective on Ingram Micro from $30.00 to $28.00 and set a "buy" rating for the company in a report on Wednesday, March 5th. Six investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $26.64.

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Ingram Micro Stock Performance

Ingram Micro stock traded up $0.08 during midday trading on Friday, reaching $15.39. The company's stock had a trading volume of 465,192 shares, compared to its average volume of 444,799. 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 Holding Corp. has a 52 week low of $14.25 and a 52 week high of $25.69. The firm's 50-day moving average is $20.00.

Ingram Micro (NYSE:INGM - Get Free Report) last released its quarterly earnings data on Tuesday, March 4th. The company reported $0.92 earnings per share 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. As a group, analysts expect that Ingram Micro Holding Corp. will post 2.71 earnings per share for the current fiscal year.

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

Ingram Micro Dividend Announcement

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

About Ingram Micro

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.