Woodline Partners LP Takes $5.83 Million Position in Ingram Micro Holding Corp. (NYSE:INGM)

Woodline Partners LP bought a new position in shares of Ingram Micro Holding Corp. (NYSE:INGM - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 300,701 shares of the company's stock, valued at approximately $5,831,000. Woodline Partners LP owned about 0.13% of Ingram Micro at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in INGM. Capital World Investors bought a new stake in Ingram Micro in the fourth quarter valued at $68,295,000. Victory Capital Management Inc. bought a new position in Ingram Micro in the 4th quarter valued at $53,532,000. JPMorgan Chase & Co. purchased a new stake in Ingram Micro during the fourth quarter worth about $37,793,000. American Century Companies Inc. purchased a new position in Ingram Micro in the fourth quarter valued at approximately $36,268,000. Finally, Ameriprise Financial Inc. purchased a new position in shares of Ingram Micro during the 4th quarter valued at $30,683,000.

Ingram Micro Trading Down 1.0%

Shares of INGM traded down $0.20 during trading hours on Wednesday, hitting $19.65. The company had a trading volume of 206,524 shares, compared to its average volume of 424,173. Ingram Micro Holding Corp. has a 52-week low of $14.25 and a 52-week 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 stock's 50 day moving average price is $17.99 and its 200 day moving average price is $20.41.

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

Ingram Micro Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 3rd. Shareholders 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 yield of 1.55%. The ex-dividend date is Tuesday, May 20th. This is a positive change from Ingram Micro's previous quarterly dividend of $0.07.

Ingram Micro declared that its Board of Directors has approved a stock repurchase plan on Tuesday, March 4th that permits the company to buyback $75.00 million in shares. This buyback authorization permits the company to purchase up to 1.5% of its shares through open market purchases. Shares buyback plans are usually an indication that the company's management believes its stock is undervalued.

Analysts Set New Price Targets

INGM has been the subject of a number of recent analyst reports. Loop Capital reduced their price target on shares of Ingram Micro from $30.00 to $25.00 and set a "buy" rating for the company in a research report on Monday, March 10th. Jefferies Financial Group lowered their price target on Ingram Micro from $28.00 to $24.00 and set a "buy" rating on the stock in a report on Tuesday, March 25th. Raymond James cut their price objective on Ingram Micro from $28.00 to $26.00 and set an "outperform" rating for the company in a report on Wednesday, March 5th. Morgan Stanley upped their price objective on shares of Ingram Micro from $18.00 to $23.00 and gave the stock an "overweight" rating in a research report on Friday, May 9th. Finally, The Goldman Sachs Group dropped their target price on shares of Ingram Micro from $29.00 to $25.00 and set a "buy" rating for the company 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. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $25.79.

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.