Barclays PLC Takes Position in Ingram Micro Holding Corp. (NYSE:INGM)

Barclays PLC bought a new position in Ingram Micro Holding Corp. (NYSE:INGM - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund bought 56,348 shares of the company's stock, valued at approximately $1,092,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. CenterBook Partners LP purchased a new stake in Ingram Micro during the fourth quarter valued at $1,224,000. Invesco Ltd. purchased a new stake in Ingram Micro during the fourth quarter valued at approximately $667,000. Russell Investments Group Ltd. purchased a new position in shares of Ingram Micro during the 4th quarter worth $120,000. Wells Fargo & Company MN bought a new stake in shares of Ingram Micro during the 4th quarter valued at $45,000. Finally, Geode Capital Management LLC purchased a new position in Ingram Micro during the fourth quarter valued at $1,693,000.

Ingram Micro Price Performance

Shares of NYSE INGM traded up $0.73 during midday trading on Wednesday, reaching $19.03. 329,262 shares of the company's stock traded hands, compared to its average volume of 426,931. The stock's 50 day moving average is $17.83. Ingram Micro Holding Corp. has a one year low of $14.25 and a one year high of $25.69. The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.96 and a current ratio of 1.40.

Ingram Micro (NYSE:INGM - Get Free Report) last issued its quarterly earnings data on Tuesday, March 4th. The company reported $0.92 EPS for the quarter, beating the consensus estimate of $0.91 by $0.01. The business had revenue of $13.34 billion for the quarter, compared to analysts' expectations of $13.21 billion. Sell-side analysts forecast that Ingram Micro Holding Corp. will post 2.71 EPS for the current fiscal year.

Ingram Micro Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 25th. Stockholders 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 1.56%. The ex-dividend date was Tuesday, March 11th.

Ingram Micro announced that its Board of Directors has approved a share 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 generally a sign that the company's board of directors believes its shares are undervalued.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the stock. Jefferies Financial Group reduced their target price on shares of Ingram Micro from $28.00 to $24.00 and set a "buy" rating for the company in a report on Tuesday, March 25th. Evercore ISI dropped 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 research note on Wednesday, March 5th. Bank of America lowered their price target on shares of Ingram Micro from $30.00 to $28.00 and set a "buy" rating for the company in a report on Wednesday, March 5th. Royal Bank of Canada upped their price objective on Ingram Micro from $26.00 to $28.00 and gave the company an "outperform" rating in a research report on Friday, February 21st. Finally, 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 report on Wednesday, March 5th. Six investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, Ingram Micro currently has an average rating of "Moderate Buy" and an average target price of $26.21.

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.