Bank of America Corp DE Invests $1.78 Million in Ingram Micro Holding Corp. (NYSE:INGM)

Bank of America Corp DE acquired a new position in Ingram Micro Holding Corp. (NYSE:INGM - Free Report) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm acquired 91,995 shares of the company's stock, valued at approximately $1,784,000.

Several other large investors also recently bought and sold shares of INGM. Ameriprise Financial Inc. purchased a new position in shares of Ingram Micro during the 4th quarter valued at about $30,683,000. Alyeska Investment Group L.P. purchased a new stake in shares of Ingram Micro during the 4th quarter worth approximately $3,791,000. Freestone Grove Partners LP purchased a new stake in shares of Ingram Micro during the 4th quarter worth approximately $7,761,000. Soros Fund Management LLC bought a new position in shares of Ingram Micro during the 4th quarter valued at approximately $1,939,000. Finally, Northern Trust Corp bought a new position in shares of Ingram Micro during the 4th quarter valued at approximately $650,000.

Analyst Ratings Changes

Several equities analysts have commented on INGM shares. Jefferies Financial Group cut their price objective on Ingram Micro from $28.00 to $24.00 and set a "buy" rating on the stock in a research report on Tuesday, March 25th. Morgan Stanley increased their price target on Ingram Micro from $18.00 to $23.00 and gave the stock an "overweight" rating in a research report on Friday, May 9th. Evercore ISI dropped their price objective on Ingram Micro from $27.00 to $26.00 and set an "in-line" rating on the stock in a research report on Wednesday, March 5th. Loop Capital dropped their price objective on Ingram Micro from $30.00 to $25.00 and set a "buy" rating on the stock in a research report on Monday, March 10th. Finally, JPMorgan Chase & Co. raised their price objective on Ingram Micro from $20.00 to $21.00 and gave the company a "neutral" rating in a research report on Friday, May 9th. Six research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat.com, Ingram Micro has an average rating of "Moderate Buy" and a consensus price target of $25.79.

Ingram Micro Stock Performance

Shares of NYSE:INGM traded up $0.07 during trading on Thursday, reaching $19.68. The stock had a trading volume of 399,517 shares, compared to its average volume of 418,612. 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 business has a fifty day moving average price of $18.04 and a 200-day moving average price of $20.25. 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 posted its earnings results on Tuesday, March 4th. The company reported $0.92 EPS for the quarter, beating analysts' consensus estimates of $0.91 by $0.01. The business had revenue of $13.34 billion during the quarter, compared to analysts' expectations of $13.21 billion. As a group, equities analysts forecast that Ingram Micro Holding Corp. will post 2.71 EPS for the current year.

Ingram Micro Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 3rd. Investors of record on Tuesday, May 20th were given a $0.076 dividend. The ex-dividend date was Tuesday, May 20th. This is a boost from Ingram Micro's previous quarterly dividend of $0.07. This represents a $0.30 dividend on an annualized basis and a dividend yield of 1.54%.

Ingram Micro announced that its Board of Directors has initiated a share repurchase plan on Tuesday, March 4th that permits the company to repurchase $75.00 million in shares. This repurchase authorization permits the company to repurchase up to 1.5% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company's leadership believes its shares are undervalued.

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.