Point72 Asset Management L.P. Makes New $1.09 Million Investment in Ingram Micro Holding Corp. (NYSE:INGM)

Point72 Asset Management L.P. acquired a new stake in Ingram Micro Holding Corp. (NYSE:INGM - Free Report) in the 4th quarter, according to its most recent disclosure with the SEC. The fund acquired 55,952 shares of the company's stock, valued at approximately $1,085,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in INGM. Nuveen Asset Management LLC acquired a new position in shares of Ingram Micro during the 4th quarter worth $305,000. Maytus Capital Management LLC acquired a new position in shares of Ingram Micro during the 4th quarter worth $1,551,000. Millennium Management LLC acquired a new position in shares of Ingram Micro during the 4th quarter worth $7,648,000. LMR Partners LLP acquired a new position in shares of Ingram Micro during the 4th quarter worth $1,939,000. Finally, Invenomic Capital Management LP acquired a new position in shares of Ingram Micro during the 4th quarter worth $12,284,000.

Ingram Micro Stock Up 1.7%

Shares of Ingram Micro stock traded up $0.33 on Tuesday, hitting $19.80. 51,967 shares of the company's stock traded hands, compared to its average volume of 424,301. Ingram Micro Holding Corp. has a one year low of $14.25 and a one year high of $25.69. The company has a quick ratio of 0.96, a current ratio of 1.40 and a debt-to-equity ratio of 0.93. The company has a fifty day moving average of $17.98 and a two-hundred day moving average of $20.41.

Ingram Micro (NYSE:INGM - Get Free Report) last announced its quarterly earnings results on Tuesday, March 4th. The company reported $0.92 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.91 by $0.01. The firm had revenue of $13.34 billion during the quarter, compared to the consensus estimate of $13.21 billion. Sell-side analysts anticipate that Ingram Micro Holding Corp. will post 2.71 earnings per share for the current year.

Ingram Micro declared that its board has authorized a share buyback plan on Tuesday, March 4th that authorizes the company to repurchase $75.00 million in outstanding shares. This repurchase authorization authorizes the company to reacquire up to 1.5% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company's leadership believes its shares are undervalued.

Ingram Micro Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 3rd. Stockholders of record on Tuesday, May 20th will be issued a $0.076 dividend. This represents a $0.30 dividend on an annualized basis and a dividend yield of 1.54%. The ex-dividend date is Tuesday, May 20th. This is a positive change from Ingram Micro's previous quarterly dividend of $0.07.

Analysts Set New Price Targets

A number of research firms have recently commented on INGM. Loop Capital lowered their price target on Ingram Micro from $30.00 to $25.00 and set a "buy" rating for the company in a report on Monday, March 10th. Raymond James lowered their target price on Ingram Micro from $28.00 to $26.00 and set an "outperform" rating for the company in a report on Wednesday, March 5th. Bank of America lowered their target price on Ingram Micro from $30.00 to $28.00 and set a "buy" rating for the company in a report on Wednesday, March 5th. Evercore ISI lowered their target price on Ingram Micro from $27.00 to $26.00 and set an "in-line" rating for the company in a report on Wednesday, March 5th. Finally, Royal Bank of Canada upped their target price on Ingram Micro from $26.00 to $28.00 and gave the stock an "outperform" rating in a report on Friday, February 21st. Six investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat, Ingram Micro presently has a consensus rating of "Moderate Buy" and an average price target 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.