Ingram Micro Holding Corporation $INGM Shares Sold by Invenomic Capital Management LP

Key Points

• Invenomic Capital Management LP reduced its stake in Ingram Micro by 14.2%, resulting in ownership of approximately 543,709 shares valued at $9.65 million.
• Ingram Micro recently increased its quarterly dividend to $0.078 per share, yielding 1.6% with a dividend payout ratio of 26.72%.
• The company's earnings exceeded expectations, reporting $0.61 earnings per share against a consensus estimate of $0.60, and revenue of $12.79 billion for the recent quarter.

Invenomic Capital Management LP cut its holdings in Ingram Micro Holding Corporation (NYSE:INGM - Free Report) by 14.2% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 543,709 shares of the company's stock after selling 89,806 shares during the period. Invenomic Capital Management LP owned about 0.23% of Ingram Micro worth $9,645,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. California State Teachers Retirement System purchased a new stake in shares of Ingram Micro in the 4th quarter worth about $26,000. CWM LLC purchased a new stake in shares of Ingram Micro in the 1st quarter worth about $26,000. Wells Fargo & Company MN purchased a new stake in shares of Ingram Micro in the 4th quarter worth about $45,000. Tower Research Capital LLC TRC purchased a new stake in shares of Ingram Micro in the 4th quarter worth about $52,000. Finally, GAMMA Investing LLC boosted its position in shares of Ingram Micro by 5,873.5% in the 1st quarter. GAMMA Investing LLC now owns 4,062 shares of the company's stock worth $720,000 after buying an additional 3,994 shares in the last quarter.

Analysts Set New Price Targets

A number of research firms have issued reports on INGM. Raymond James Financial reduced their target price on shares of Ingram Micro from $26.00 to $24.00 and set an "outperform" rating on the stock in a report on Thursday, August 7th. JPMorgan Chase & Co. upped their target price on shares of Ingram Micro from $21.00 to $24.00 and gave the company a "neutral" rating in a report on Thursday, July 17th. Wall Street Zen upgraded shares of Ingram Micro from a "hold" rating to a "buy" rating in a report on Friday. Morgan Stanley lowered shares of Ingram Micro from an "overweight" rating to an "equal weight" rating and reduced their target price for the company from $23.00 to $22.00 in a report on Wednesday, June 11th. Finally, Zacks Research upgraded shares of Ingram Micro from a "strong sell" rating to a "hold" rating in a report on Friday, August 22nd. Ten research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $25.79.

Ingram Micro Trading Up 1.7%

Shares of INGM stock traded up $0.33 during trading hours on Friday, hitting $20.03. 265,784 shares of the company were exchanged, compared to its average volume of 235,497. The firm has a market cap of $4.70 billion and a PE ratio of 17.26. Ingram Micro Holding Corporation has a 1 year low of $14.25 and a 1 year high of $25.69. The company has a quick ratio of 0.93, a current ratio of 1.39 and a debt-to-equity ratio of 0.75. The firm has a fifty day moving average of $20.12 and a 200 day moving average of $19.34.

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

Ingram Micro Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 2nd. Investors of record on Tuesday, August 19th were given a dividend of $0.078 per share. This is a boost from Ingram Micro's previous quarterly dividend of $0.08. The ex-dividend date of this dividend was Tuesday, August 19th. This represents a $0.31 dividend on an annualized basis and a yield of 1.6%. Ingram Micro's dividend payout ratio is currently 26.72%.

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.