Capital World Investors Sells 1,176,383 Shares of Ingram Micro Holding Corporation $INGM

Capital World Investors cut its position in Ingram Micro Holding Corporation (NYSE:INGM) by 33.5% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 2,339,171 shares of the company’s stock after selling 1,176,383 shares during the quarter. Capital World Investors’ holdings in Ingram Micro were worth $50,269,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Rhumbline Advisers boosted its holdings in Ingram Micro by 6.3% in the second quarter. Rhumbline Advisers now owns 13,646 shares of the company’s stock worth $284,000 after acquiring an additional 803 shares in the last quarter. Quantbot Technologies LP increased its holdings in shares of Ingram Micro by 8.2% during the third quarter. Quantbot Technologies LP now owns 11,416 shares of the company’s stock valued at $245,000 after acquiring an additional 868 shares in the last quarter. PNC Financial Services Group Inc. raised its position 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 worth $116,000 after purchasing an additional 4,835 shares during the period. Franklin Resources Inc. lifted its holdings in shares of Ingram Micro by 54.0% in the 2nd quarter. Franklin Resources Inc. now owns 17,682 shares of the company’s stock worth $368,000 after purchasing an additional 6,199 shares in the last quarter. Finally, Voya Investment Management LLC lifted its holdings in shares of Ingram Micro by 7.2% in the 3rd quarter. Voya Investment Management LLC now owns 144,695 shares of the company’s stock worth $3,109,000 after purchasing an additional 9,749 shares in the last quarter.

Wall Street Analyst Weigh In

A number of analysts have commented on INGM shares. Raymond James Financial set a $27.00 price target on shares of Ingram Micro in a research note on Tuesday, March 3rd. Wall Street Zen raised shares of Ingram Micro from a “buy” rating to a “strong-buy” rating in a research note on Saturday, March 7th. William Blair reiterated an “outperform” rating on shares of Ingram Micro in a report on Tuesday, March 3rd. Morgan Stanley upped their target price on shares of Ingram Micro from $21.00 to $23.00 and gave the stock an “equal weight” rating in a report on Tuesday, March 3rd. Finally, Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $24.00 price target on shares of Ingram Micro in a research report on Monday, December 22nd. Four analysts have rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $24.33.

Ingram Micro Trading Down 5.0%

Shares of Ingram Micro stock opened at $21.37 on Friday. The firm has a market cap of $5.02 billion, a PE ratio of 15.48, a P/E/G ratio of 0.77 and a beta of 2.27. Ingram Micro Holding Corporation has a 1 year low of $14.25 and a 1 year high of $26.38. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.33 and a quick ratio of 0.97. The stock has a fifty day moving average price of $21.57 and a 200-day moving average price of $21.41.

Ingram Micro (NYSE:INGM) last posted its quarterly earnings results 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 business’s revenue was up 11.5% on a year-over-year basis. Equities research analysts anticipate that Ingram Micro Holding Corporation will post 2.71 EPS for the current year.

Ingram Micro declared that its board has approved a stock repurchase plan on Monday, March 2nd that permits the company to repurchase $100.00 million in outstanding shares. This repurchase authorization permits the company to buy up to 2% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s management believes its shares are undervalued.

Ingram Micro Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, March 24th. Stockholders of record on Tuesday, March 10th will be given a dividend of $0.082 per share. The ex-dividend date of this dividend is Tuesday, March 10th. This represents a $0.33 dividend on an annualized basis and a dividend yield of 1.5%. This is an increase from Ingram Micro’s previous quarterly dividend of $0.08. Ingram Micro’s payout ratio is currently 23.91%.

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.