Khrom Capital Management LLC Invests $18.77 Million in Ingram Micro Holding Corp. (NYSE:INGM)

Khrom Capital Management LLC bought a new position in shares of Ingram Micro Holding Corp. (NYSE:INGM - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 968,204 shares of the company's stock, valued at approximately $18,773,000. Ingram Micro makes up 2.1% of Khrom Capital Management LLC's holdings, making the stock its 15th largest position. Khrom Capital Management LLC owned about 0.41% of Ingram Micro at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the business. Wells Fargo & Company MN purchased a new position in Ingram Micro in the fourth quarter worth $45,000. Cohen & Steers Inc. purchased a new position in shares of Ingram Micro in the 4th quarter valued at about $48,000. Tower Research Capital LLC TRC purchased a new stake in Ingram Micro during the fourth quarter worth about $52,000. Russell Investments Group Ltd. purchased a new position in Ingram Micro in the fourth quarter valued at about $120,000. Finally, Rhumbline Advisers acquired a new stake in shares of Ingram Micro during the 4th quarter valued at approximately $171,000.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on INGM. Jefferies Financial Group dropped their price objective on Ingram Micro from $28.00 to $24.00 and set a "buy" rating for the company in a research note on Tuesday, March 25th. Royal Bank of Canada raised their price target on Ingram Micro from $26.00 to $28.00 and gave the company an "outperform" rating in a research report on Friday, February 21st. Morgan Stanley decreased their price objective on shares of Ingram Micro from $27.00 to $26.00 and set an "overweight" rating on the stock in a research report on Wednesday, March 5th. Bank of America dropped their target price on shares of Ingram Micro from $30.00 to $28.00 and set a "buy" rating for the company in a report on Wednesday, March 5th. Finally, Raymond James reduced their price target on shares of Ingram Micro from $28.00 to $26.00 and set an "outperform" rating on the stock in a report on Wednesday, March 5th. Six investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $26.21.

Ingram Micro Stock Performance

NYSE INGM traded down $0.05 during trading hours on Friday, hitting $17.65. 295,266 shares of the company's stock were exchanged, compared to its average volume of 437,331. Ingram Micro Holding Corp. has a 12-month low of $14.25 and a 12-month high of $25.69. The stock has a 50 day simple moving average of $18.54. The company has a current ratio of 1.40, a quick ratio of 0.96 and a debt-to-equity ratio of 0.93.

Ingram Micro (NYSE:INGM - Get Free Report) last released its earnings results 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 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 Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 25th. Shareholders of record on Tuesday, March 11th were paid a dividend of $0.074 per share. The ex-dividend date of this dividend was Tuesday, March 11th. This represents a $0.30 annualized dividend and a yield of 1.68%.

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

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.