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 decreased its position in shares of Ingram Micro Holding Corporation (NYSE:INGM - Free Report) by 14.2% in the 1st quarter, according to the company in its most recent disclosure with the Securities and 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 filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of INGM. Wells Fargo & Company MN acquired a new stake in shares of Ingram Micro during the fourth quarter worth approximately $45,000. Tower Research Capital LLC TRC acquired a new stake in shares of Ingram Micro during the fourth quarter worth approximately $52,000. Northern Trust Corp acquired a new stake in shares of Ingram Micro during the fourth quarter worth approximately $650,000. Ameriprise Financial Inc. acquired a new stake in shares of Ingram Micro during the fourth quarter worth approximately $30,683,000. Finally, Bank of America Corp DE acquired a new stake in shares of Ingram Micro during the fourth quarter worth approximately $1,784,000.

Ingram Micro Trading Up 0.9%

Shares of NYSE INGM traded up $0.19 during mid-day trading on Wednesday, reaching $20.63. 73,001 shares of the company's stock were exchanged, compared to its average volume of 370,042. The firm has a market capitalization of $4.84 billion and a price-to-earnings ratio of 17.80. The company has a debt-to-equity ratio of 0.75, a quick ratio of 0.93 and a current ratio of 1.39. Ingram Micro Holding Corporation has a 52-week low of $14.25 and a 52-week high of $25.69. The company's 50-day moving average is $20.09 and its 200-day moving average is $19.32.

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

Ingram Micro Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 2nd. Stockholders of record on Tuesday, August 19th were issued a dividend of $0.078 per share. The ex-dividend date was Tuesday, August 19th. This represents a $0.31 dividend on an annualized basis and a dividend yield of 1.5%. This is a boost from Ingram Micro's previous quarterly dividend of $0.08. Ingram Micro's dividend payout ratio (DPR) is currently 26.72%.

Analysts Set New Price Targets

A number of brokerages recently weighed in on INGM. JPMorgan Chase & Co. raised their price target 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. Zacks Research raised shares of Ingram Micro from a "strong sell" rating to a "hold" rating in a report on Friday, August 22nd. Wall Street Zen raised shares of Ingram Micro from a "hold" rating to a "buy" rating in a report on Friday, September 5th. Raymond James Financial lowered their price target on shares of Ingram Micro from $26.00 to $24.00 and set an "outperform" rating for the company in a report on Thursday, August 7th. Finally, Morgan Stanley lowered shares of Ingram Micro from an "overweight" rating to an "equal weight" rating and lowered their price target for the company from $23.00 to $22.00 in a report on Wednesday, June 11th. Ten analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $25.79.

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.