Ingram Micro Holding Corporation $INGM Shares Purchased by American Century Companies Inc.

Key Points

• American Century Companies Inc. has increased its stake in Ingram Micro Holding Corporation by 23.3%, now owning 2,307,133 shares valued at approximately $40.93 million.
• Ingram Micro announced a quarterly dividend increase to $0.078 per share, reflecting an annualized payout of $0.31 with a dividend yield of 1.6%.
• Analysts have mixed views on Ingram Micro, with a consensus rating of "Moderate Buy" and an average price target of $25.79.

American Century Companies Inc. boosted its holdings in Ingram Micro Holding Corporation (NYSE:INGM - Free Report) by 23.3% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,307,133 shares of the company's stock after buying an additional 436,701 shares during the quarter. American Century Companies Inc. owned approximately 0.98% of Ingram Micro worth $40,929,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in INGM. California State Teachers Retirement System purchased a new position in shares of Ingram Micro during the fourth quarter worth about $26,000. CWM LLC purchased a new position in shares of Ingram Micro during the first quarter worth about $26,000. Wells Fargo & Company MN purchased a new position in shares of Ingram Micro during the fourth quarter worth about $45,000. Tower Research Capital LLC TRC purchased a new position in shares of Ingram Micro during the fourth quarter worth about $52,000. Finally, Cubist Systematic Strategies LLC purchased a new position in shares of Ingram Micro during the fourth quarter worth about $80,000.

Ingram Micro Stock Performance

NYSE:INGM traded down $0.17 during mid-day trading on Tuesday, reaching $19.43. The stock had a trading volume of 191,517 shares, compared to its average volume of 401,473. The company has a debt-to-equity ratio of 0.75, a quick ratio of 0.93 and a current ratio of 1.39. The firm has a market capitalization of $4.56 billion and a price-to-earnings ratio of 16.75. Ingram Micro Holding Corporation has a twelve month low of $14.25 and a twelve month high of $25.69. The business has a 50 day simple moving average of $20.18 and a 200 day simple moving average of $19.58.

Ingram Micro (NYSE:INGM - Get Free Report) last announced its quarterly earnings data on Wednesday, August 6th. The company reported $0.61 EPS for the quarter, beating analysts' consensus estimates of $0.60 by $0.01. The firm had revenue of $12.79 billion during the quarter, compared to the consensus estimate of $11.99 billion. Ingram Micro had a net margin of 0.53% and a return on equity of 17.33%. On average, analysts expect that Ingram Micro Holding Corporation will post 2.71 earnings per share for the current fiscal year.

Ingram Micro Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 2nd. Investors of record on Tuesday, August 19th will be given a $0.078 dividend. The ex-dividend date is Tuesday, August 19th. This is an increase from Ingram Micro's previous quarterly dividend of $0.08. This represents a $0.31 dividend on an annualized basis and a yield of 1.6%. Ingram Micro's payout ratio is 26.72%.

Analysts Set New Price Targets

INGM has been the topic of several research reports. JPMorgan Chase & Co. raised their price objective on Ingram Micro from $21.00 to $24.00 and gave the stock a "neutral" rating in a report on Thursday, July 17th. The Goldman Sachs Group dropped their price objective on Ingram Micro from $29.00 to $25.00 and set a "buy" rating on the stock in a report on Friday, May 9th. Morgan Stanley lowered Ingram Micro from an "overweight" rating to an "equal weight" rating and dropped their price objective for the stock from $23.00 to $22.00 in a report on Wednesday, June 11th. Raymond James Financial dropped their price objective on Ingram Micro from $26.00 to $24.00 and set an "outperform" rating on the stock in a report on Thursday, August 7th. Finally, Zacks Research upgraded shares of Ingram Micro from a "strong sell" rating to a "hold" rating in a research note on Friday. Ten investment analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company's stock. According to data from MarketBeat.com, Ingram Micro has a consensus rating of "Moderate Buy" and an average target price of $25.79.

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.