Capital World Investors Sells 1,176,383 Shares of Ingram Micro Holding Corporation $INGM

Key Points

• Capital World Investors cut its Ingram Micro stake by 33.5%, selling 1,176,383 shares and retaining 2,339,171 shares (about 1% ownership) valued at roughly $50.27 million.
• Ingram Micro beat quarterly estimates (EPS $0.96 vs. $0.90; revenue $14.88B vs. $14.18B), authorized a $100 million share repurchase (up to ~2% of shares) and raised its quarterly dividend to $0.082 (annualized $0.33, ~1.5% yield).
• Analyst views are mixed: the consensus rating is a Hold with an average price target of $24.33, while individual brokerages range from Strong-Buy to Underweight.

Capital World Investors lowered its stake in Ingram Micro Holding Corporation (NYSE:INGM - Free Report) by 33.5% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,339,171 shares of the company's stock after selling 1,176,383 shares during the period. Capital World Investors owned 1.00% of Ingram Micro worth $50,269,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the stock. Russell Investments Group Ltd. lifted its stake in shares of Ingram Micro by 53.9% in the 3rd quarter. Russell Investments Group Ltd. now owns 55,729 shares of the company's stock valued at $1,198,000 after acquiring an additional 19,508 shares during the last quarter. Crossingbridge Advisors LLC increased its holdings in Ingram Micro by 600.0% in the 3rd quarter. Crossingbridge Advisors LLC now owns 70,000 shares of the company's stock worth $1,504,000 after purchasing an additional 60,000 shares in the last quarter. First Trust Advisors LP bought a new position in Ingram Micro in the third quarter valued at about $1,996,000. American Century Companies Inc. boosted its stake in shares of Ingram Micro by 1.9% during the third quarter. American Century Companies Inc. now owns 2,914,724 shares of the company's stock valued at $62,637,000 after purchasing an additional 54,971 shares in the last quarter. Finally, Quantbot Technologies LP grew its holdings in shares of Ingram Micro by 8.2% during the third quarter. Quantbot Technologies LP now owns 11,416 shares of the company's stock worth $245,000 after purchasing an additional 868 shares during the last quarter.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on INGM. Wall Street Zen upgraded shares of Ingram Micro from a "buy" rating to a "strong-buy" rating in a report on Saturday, March 7th. The Goldman Sachs Group lowered shares of Ingram Micro from a "strong-buy" rating to a "neutral" rating and set a $24.00 target price on the stock. in a report on Tuesday, January 13th. Zacks Research raised shares of Ingram Micro from a "strong sell" rating to a "hold" rating in a research note on Monday, February 23rd. JPMorgan Chase & Co. reiterated an "underweight" rating and set a $24.00 price target on shares of Ingram Micro in a report on Monday, December 15th. Finally, Raymond James Financial set a $27.00 price objective on Ingram Micro in a report on Tuesday, March 3rd. Four research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $24.33.

Ingram Micro Stock Down 5.0%

Shares of Ingram Micro stock opened at $21.37 on Friday. The stock's 50-day moving average is $21.57 and its 200 day moving average is $21.41. Ingram Micro Holding Corporation has a one year low of $14.25 and a one year high of $26.38. The firm has a market cap of $5.02 billion, a price-to-earnings ratio of 15.48, a PEG ratio of 0.77 and a beta of 2.27. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.33 and a quick ratio of 0.97.

Ingram Micro (NYSE:INGM - Get Free Report) last issued its quarterly earnings results on Monday, March 2nd. The company reported $0.96 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.90 by $0.06. The firm had revenue of $14.88 billion for the quarter, compared to analyst estimates of $14.18 billion. Ingram Micro had a return on equity of 16.78% and a net margin of 0.62%.Ingram Micro's revenue for the quarter was up 11.5% on a year-over-year basis. Equities research analysts anticipate that Ingram Micro Holding Corporation will post 2.71 EPS for the current year.

Ingram Micro announced that its board has authorized a stock repurchase plan on Monday, March 2nd that authorizes the company to repurchase $100.00 million in shares. This repurchase authorization authorizes the company to purchase up to 2% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company's management believes its stock is undervalued.

Ingram Micro Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, March 24th. Investors of record on Tuesday, March 10th will be given a dividend of $0.082 per share. This represents a $0.33 dividend on an annualized basis and a dividend yield of 1.5%. The ex-dividend date is Tuesday, March 10th. This is a boost from Ingram Micro's previous quarterly dividend of $0.08. Ingram Micro's dividend payout ratio is presently 23.91%.

Ingram Micro Company Profile

Ingram Micro, headquartered in Irvine, California, is a global technology distributor and supply chain services provider. Listed on the New York Stock Exchange under the ticker INGM, the company connects leading technology manufacturers, cloud providers and channel partners through an integrated portfolio of products and services. Ingram Micro's end-to-end solutions span product distribution, cloud enablement, e-commerce, logistics and lifecycle management, enabling customers of all sizes to bring new technology to market efficiently.

The company's offerings are organized across several core areas.

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