Ingram Micro Holding Corporation $INGM Stake Decreased by JPMorgan Chase & Co.

JPMorgan Chase & Co. cut its holdings in shares of Ingram Micro Holding Corporation (NYSE:INGM) by 4.1% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,097,936 shares of the company’s stock after selling 90,614 shares during the period. JPMorgan Chase & Co. owned approximately 0.89% of Ingram Micro worth $45,085,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Comerica Bank boosted its position in Ingram Micro by 2,844.2% during the 3rd quarter. Comerica Bank now owns 3,798 shares of the company’s stock worth $82,000 after acquiring an additional 3,669 shares during the period. Aquatic Capital Management LLC acquired a new position in shares of Ingram Micro during the third quarter valued at $110,000. PNC Financial Services Group Inc. increased its holdings in shares of Ingram Micro by 855.8% during the third quarter. PNC Financial Services Group Inc. now owns 5,400 shares of the company’s stock valued at $116,000 after purchasing an additional 4,835 shares during the period. Crossingbridge Advisors LLC bought a new stake in shares of Ingram Micro during the second quarter valued at about $206,000. Finally, Quantbot Technologies LP lifted its holdings in Ingram Micro by 8.2% in the third quarter. Quantbot Technologies LP now owns 11,416 shares of the company’s stock worth $245,000 after purchasing an additional 868 shares during the period.

Ingram Micro Price Performance

Shares of Ingram Micro stock opened at $22.09 on Friday. Ingram Micro Holding Corporation has a 52 week low of $14.25 and a 52 week high of $26.38. The company has a current ratio of 1.33, a quick ratio of 0.97 and a debt-to-equity ratio of 0.65. The stock has a market cap of $5.19 billion, a PE ratio of 16.01, a price-to-earnings-growth ratio of 0.76 and a beta of 2.27. The company’s 50-day moving average price is $21.66 and its two-hundred day moving average price is $21.51.

Ingram Micro (NYSE:INGM) last posted its quarterly earnings data on Monday, March 2nd. The company reported $0.96 earnings per share for the quarter, beating the consensus estimate of $0.90 by $0.06. Ingram Micro had a net margin of 0.62% and a return on equity of 16.78%. The company had revenue of $14.88 billion during the quarter, compared to analyst estimates of $14.18 billion. The company’s revenue for the quarter was up 11.5% on a year-over-year basis. As a group, sell-side analysts anticipate that Ingram Micro Holding Corporation will post 2.71 EPS for the current fiscal year.

Ingram Micro Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 24th. Shareholders of record on Tuesday, March 10th will be given a $0.082 dividend. This represents a $0.33 annualized dividend and a yield of 1.5%. This is a positive change from Ingram Micro’s previous quarterly dividend of $0.08. The ex-dividend date is Tuesday, March 10th. Ingram Micro’s dividend payout ratio (DPR) is presently 23.91%.

Ingram Micro announced that its board has authorized a stock repurchase program on Monday, March 2nd that authorizes the company to buyback $100.00 million in shares. This buyback authorization authorizes the company to repurchase up to 2% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s leadership believes its stock is undervalued.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on INGM shares. Raymond James Financial set a $27.00 target price on shares of Ingram Micro in a research report on Tuesday, March 3rd. William Blair reaffirmed an “outperform” rating on shares of Ingram Micro in a research note on Tuesday, March 3rd. Morgan Stanley increased their price objective on shares of Ingram Micro from $21.00 to $23.00 and gave the company an “equal weight” rating in a report on Tuesday, March 3rd. The Goldman Sachs Group lowered shares of Ingram Micro from a “strong-buy” rating to a “neutral” rating and set a $24.00 price objective on the stock. in a research note on Tuesday, January 13th. Finally, Royal Bank Of Canada restated an “outperform” rating and issued a $24.00 target price on shares of Ingram Micro in a research report on Monday, December 22nd. Four investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, Ingram Micro has an average rating of “Hold” and a consensus price target of $24.33.

Ingram Micro Company Profile

Ingram Micro, headquartered in Irvine, California, is a global technology distributor and supply chain services provider. Listed on the New York Stock Exchange under the ticker INGM, the company connects leading technology manufacturers, cloud providers and channel partners through an integrated portfolio of products and services. Ingram Micro’s end-to-end solutions span product distribution, cloud enablement, e-commerce, logistics and lifecycle management, enabling customers of all sizes to bring new technology to market efficiently.

The company’s offerings are organized across several core areas.