New York State Common Retirement Fund Cuts Stock Position in Ingram Micro Holding Corporation (NYSE:INGM)

Key Points

• The New York State Common Retirement Fund significantly reduced its holdings in Ingram Micro by 82.2%, selling 12,900 shares and now holding only 2,800 shares valued at $50,000.
• Ingram Micro recently increased its quarterly dividend to $0.076, shifting from the previous amount of $0.07, which translates to an annual yield of 1.42%.
• Equities analysts have mixed views on Ingram Micro, with price targets ranging from $21.00 to $29.00 and an average target of $25.93, indicating a "Moderate Buy" rating.

New York State Common Retirement Fund lessened its holdings in Ingram Micro Holding Corporation (NYSE:INGM - Free Report) by 82.2% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 2,800 shares of the company's stock after selling 12,900 shares during the period. New York State Common Retirement Fund's holdings in Ingram Micro were worth $50,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in INGM. California State Teachers Retirement System purchased a new stake in Ingram Micro during the 4th quarter worth $26,000. Wells Fargo & Company MN purchased a new stake in Ingram Micro during the 4th quarter worth $45,000. Cohen & Steers Inc. purchased a new stake in Ingram Micro during the 4th quarter worth $48,000. Tower Research Capital LLC TRC purchased a new stake in Ingram Micro during the 4th quarter worth $52,000. Finally, Cubist Systematic Strategies LLC purchased a new stake in Ingram Micro during the 4th quarter worth $80,000.

Ingram Micro Price Performance

NYSE INGM opened at $21.41 on Monday. Ingram Micro Holding Corporation has a one year low of $14.25 and a one year high of $25.69. The company has a 50-day simple moving average of $20.22 and a 200-day simple moving average of $20.02. The company has a quick ratio of 0.95, a current ratio of 1.40 and a debt-to-equity ratio of 0.78.

Ingram Micro Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 3rd. Stockholders of record on Tuesday, May 20th were issued a $0.076 dividend. The ex-dividend date of this dividend was Tuesday, May 20th. This is a positive change from Ingram Micro's previous quarterly dividend of $0.07. This represents a $0.30 annualized dividend and a dividend yield of 1.42%.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on INGM shares. JPMorgan Chase & Co. lifted their price target on shares of Ingram Micro from $21.00 to $24.00 and gave the stock a "neutral" rating in a research note on Thursday, July 17th. Morgan Stanley downgraded shares of Ingram Micro from an "overweight" rating to an "equal weight" rating and dropped their price target for the stock from $23.00 to $22.00 in a research note on Wednesday, June 11th. The Goldman Sachs Group decreased their price objective on shares of Ingram Micro from $29.00 to $25.00 and set a "buy" rating for the company in a report on Friday, May 9th. Finally, Wall Street Zen lowered shares of Ingram Micro from a "strong-buy" rating to a "buy" rating in a report on Saturday. Seven equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat, Ingram Micro has an average rating of "Moderate Buy" and an average price target of $25.93.

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.

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