Wellington Management Group LLP Invests $26.97 Million in Ingram Micro Holding Corp. (NYSE:INGM)

Wellington Management Group LLP purchased a new position in shares of Ingram Micro Holding Corp. (NYSE:INGM - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 1,390,874 shares of the company's stock, valued at approximately $26,969,000. Wellington Management Group LLP owned 0.59% of Ingram Micro at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the business. Capital World Investors acquired a new stake in Ingram Micro during the 4th quarter worth approximately $68,295,000. Victory Capital Management Inc. acquired a new stake in shares of Ingram Micro during the fourth quarter worth $53,532,000. JPMorgan Chase & Co. acquired a new stake in shares of Ingram Micro during the fourth quarter worth $37,793,000. American Century Companies Inc. bought a new stake in Ingram Micro in the 4th quarter valued at $36,268,000. Finally, Ameriprise Financial Inc. acquired a new position in Ingram Micro in the 4th quarter worth $30,683,000.

Ingram Micro Price Performance

NYSE:INGM traded up $0.40 during mid-day trading on Wednesday, hitting $19.64. The stock had a trading volume of 279,753 shares, compared to its average volume of 418,737. Ingram Micro Holding Corp. has a twelve month low of $14.25 and a twelve month high of $25.69. The company has a current ratio of 1.40, a quick ratio of 0.96 and a debt-to-equity ratio of 0.93. The company's 50 day simple moving average is $18.04 and its 200 day simple moving average is $20.25.

Ingram Micro (NYSE:INGM - Get Free Report) last released its quarterly earnings data on Tuesday, March 4th. The company reported $0.92 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.91 by $0.01. The business had revenue of $13.34 billion during the quarter, compared to analyst estimates of $13.21 billion. As a group, equities analysts forecast that Ingram Micro Holding Corp. will post 2.71 earnings per share for the current fiscal year.

Ingram Micro Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 3rd. Shareholders of record on Tuesday, May 20th were issued a dividend of $0.076 per share. This is an increase from Ingram Micro's previous quarterly dividend of $0.07. The ex-dividend date was Tuesday, May 20th. This represents a $0.30 annualized dividend and a yield of 1.55%.

Ingram Micro declared that its Board of Directors has authorized a stock 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 purchase up to 1.5% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company's board of directors believes its shares are undervalued.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the company. Royal Bank of Canada boosted their price target on Ingram Micro from $26.00 to $28.00 and gave the company an "outperform" rating in a report on Friday, February 21st. Loop Capital cut their target price on Ingram Micro from $30.00 to $25.00 and set a "buy" rating on the stock in a research note on Monday, March 10th. Jefferies Financial Group decreased their price target on shares of Ingram Micro from $28.00 to $24.00 and set a "buy" rating for the company in a research note on Tuesday, March 25th. Bank of America cut their price objective on shares of Ingram Micro from $30.00 to $28.00 and set a "buy" rating on the stock in a research report on Wednesday, March 5th. Finally, JPMorgan Chase & Co. raised their target price on shares of Ingram Micro from $20.00 to $21.00 and gave the company a "neutral" rating in a research report on Friday, May 9th. Six investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average 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.