Geode Capital Management LLC Invests $1.69 Million in Ingram Micro Holding Corp. (NYSE:INGM)

Geode Capital Management LLC acquired a new stake in shares of Ingram Micro Holding Corp. (NYSE:INGM - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 87,333 shares of the company's stock, valued at approximately $1,693,000.

A number of other institutional investors have also recently added to or reduced their stakes in INGM. Rhumbline Advisers bought a new stake in Ingram Micro during the 4th quarter valued at approximately $171,000. Bank of New York Mellon Corp bought a new position in shares of Ingram Micro during the 4th quarter worth about $207,000. New York State Common Retirement Fund bought a new position in Ingram Micro during the fourth quarter valued at about $304,000. Keybank National Association OH bought a new stake in shares of Ingram Micro in the 4th quarter worth approximately $319,000. Finally, Sei Investments Co. bought a new stake in shares of Ingram Micro during the fourth quarter valued at approximately $4,980,000.

Ingram Micro Price Performance

Shares of NYSE INGM traded down $0.18 during trading hours on Monday, reaching $18.37. 30,867 shares of the stock were exchanged, compared to its average volume of 383,523. 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 fifty day simple moving average is $18.03. Ingram Micro Holding Corp. has a 52 week low of $14.25 and a 52 week high of $25.69.

Ingram Micro (NYSE:INGM - Get Free Report) last posted 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 the consensus estimate of $13.21 billion. Equities research analysts predict that Ingram Micro Holding Corp. will post 2.71 earnings per share for the current year.

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 repurchase up to 1.5% of its stock through open market purchases. Stock buyback plans are usually an indication that the company's board of directors believes its shares are undervalued.

Ingram Micro Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 25th. Stockholders of record on Tuesday, March 11th were issued a dividend of $0.074 per share. This represents a $0.30 dividend on an annualized basis and a dividend yield of 1.61%. The ex-dividend date of this dividend was Tuesday, March 11th.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the stock. Jefferies Financial Group dropped 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 report on Tuesday, March 25th. Raymond James dropped their price objective on Ingram Micro from $28.00 to $26.00 and set an "outperform" rating for the company in a research note on Wednesday, March 5th. Bank of America decreased their price objective on Ingram Micro from $30.00 to $28.00 and set a "buy" rating on the stock in a research report on Wednesday, March 5th. Royal Bank of Canada upped their target price on shares of Ingram Micro from $26.00 to $28.00 and gave the company an "outperform" rating in a research report on Friday, February 21st. Finally, Evercore ISI cut their price objective on shares of Ingram Micro from $27.00 to $26.00 and set an "in-line" rating on the stock in a report on Wednesday, March 5th. Six analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $26.21.

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.