Capital World Investors Takes $68.30 Million Position in Ingram Micro Holding Corp. (NYSE:INGM)

Capital World Investors purchased a new stake in Ingram Micro Holding Corp. (NYSE:INGM - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 3,522,195 shares of the company's stock, valued at approximately $68,295,000. Capital World Investors owned approximately 1.50% of Ingram Micro as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in the stock. Allspring Global Investments Holdings LLC purchased a new position in Ingram Micro during the fourth quarter valued at $17,432,000. Rhumbline Advisers purchased a new position in Ingram Micro during the fourth quarter valued at $171,000. New York State Common Retirement Fund purchased a new position in Ingram Micro during the fourth quarter valued at $304,000. Bank of New York Mellon Corp purchased a new position in Ingram Micro during the fourth quarter valued at $207,000. Finally, Keybank National Association OH purchased a new position in Ingram Micro during the fourth quarter valued at $319,000.

Wall Street Analysts Forecast Growth

INGM has been the subject of several recent research reports. JPMorgan Chase & Co. lowered their price objective on Ingram Micro from $26.00 to $20.00 and set a "neutral" rating for the company in a research report on Thursday, April 17th. Loop Capital lowered their price objective on Ingram Micro from $30.00 to $25.00 and set a "buy" rating for the company in a research report on Monday, March 10th. Raymond James dropped their price target on shares of Ingram Micro from $28.00 to $26.00 and set an "outperform" rating on the stock in a research note on Wednesday, March 5th. Jefferies Financial Group dropped their price target on shares of Ingram Micro from $28.00 to $24.00 and set a "buy" rating on the stock in a research note on Tuesday, March 25th. Finally, Morgan Stanley dropped their price target on shares of Ingram Micro from $27.00 to $26.00 and set an "overweight" rating on the stock in a research note on Wednesday, March 5th. Six research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $26.21.

Ingram Micro Price Performance

INGM traded down $0.05 during midday trading on Friday, hitting $17.65. 295,266 shares of the company traded hands, compared to its average volume of 437,331. The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.96 and a current ratio of 1.40. The firm has a 50-day moving average of $18.54. Ingram Micro Holding Corp. has a 52 week low of $14.25 and a 52 week high of $25.69.

Ingram Micro (NYSE:INGM - Get Free Report) last released its quarterly 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 business had revenue of $13.34 billion for the quarter, compared to analysts' expectations of $13.21 billion. As a group, analysts predict that Ingram Micro Holding Corp. will post 2.71 EPS for the current year.

Ingram Micro announced that its board has approved a stock buyback plan on Tuesday, March 4th that allows the company to buyback $75.00 million in shares. This buyback authorization allows the company to buy up to 1.5% of its shares through open market purchases. Shares buyback plans are generally a sign that the company's leadership believes its shares are undervalued.

Ingram Micro Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 25th. Stockholders of record on Tuesday, March 11th were given a dividend of $0.074 per share. This represents a $0.30 annualized dividend and a dividend yield of 1.68%. The ex-dividend date of this dividend was Tuesday, March 11th.

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.