New York State Common Retirement Fund Cuts Stock Holdings 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 reduced its position in shares of Ingram Micro Holding Corporation (NYSE:INGM - Free Report) by 82.2% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor 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 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of the company. Capital World Investors purchased a new stake in Ingram Micro during the 4th quarter worth approximately $68,295,000. JPMorgan Chase & Co. acquired a new position in shares of Ingram Micro during the 4th quarter worth approximately $37,793,000. Ameriprise Financial Inc. acquired a new position in shares of Ingram Micro during the 4th quarter worth approximately $30,683,000. Wellington Management Group LLP acquired a new position in shares of Ingram Micro during the 4th quarter worth approximately $26,969,000. Finally, Norges Bank acquired a new position in shares of Ingram Micro during the 4th quarter worth approximately $26,190,000.

Ingram Micro Stock Down 1.9%

NYSE:INGM traded down $0.38 during trading hours on Thursday, reaching $20.05. 42,289 shares of the stock were exchanged, compared to its average volume of 376,434. The company has a quick ratio of 0.95, a current ratio of 1.40 and a debt-to-equity ratio of 0.78. The business has a 50-day moving average of $20.25 and a two-hundred day moving average of $20.04. Ingram Micro Holding Corporation has a twelve month low of $14.25 and a twelve month high of $25.69.

Ingram Micro Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 3rd. Shareholders of record on Tuesday, May 20th were paid a dividend of $0.076 per share. This represents a $0.30 dividend on an annualized basis and a yield of 1.52%. This is a boost from Ingram Micro's previous quarterly dividend of $0.07. The ex-dividend date of this dividend was Tuesday, May 20th.

Analyst Ratings Changes

INGM has been the topic of several recent research reports. Morgan Stanley cut Ingram Micro from an "overweight" rating to an "equal weight" rating and lowered their target price for the stock from $23.00 to $22.00 in a report on Wednesday, June 11th. Wall Street Zen cut Ingram Micro from a "strong-buy" rating to a "buy" rating in a report on Saturday, July 26th. The Goldman Sachs Group lowered their target price on Ingram Micro from $29.00 to $25.00 and set a "buy" rating on the stock in a report on Friday, May 9th. Finally, JPMorgan Chase & Co. boosted their target price on Ingram Micro from $21.00 to $24.00 and gave the stock a "neutral" rating in a report on Thursday, July 17th. Seven equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $25.93.

Ingram Micro 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.