Seven Grand Managers LLC Makes New Investment in Ingram Micro Holding Corp. (NYSE:INGM)

Seven Grand Managers LLC bought a new position in shares of Ingram Micro Holding Corp. (NYSE:INGM) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 50,000 shares of the company’s stock, valued at approximately $970,000.

A number of other institutional investors have also recently modified their holdings of INGM. Wells Fargo & Company MN purchased a new position in Ingram Micro during the fourth quarter worth approximately $45,000. Cohen & Steers Inc. purchased a new position in shares of Ingram Micro during the 4th quarter valued at approximately $48,000. Tower Research Capital LLC TRC purchased a new position in shares of Ingram Micro during the 4th quarter valued at approximately $52,000. Cubist Systematic Strategies LLC acquired a new stake in Ingram Micro in the 4th quarter valued at $80,000. Finally, Russell Investments Group Ltd. purchased a new stake in Ingram Micro in the 4th quarter worth $120,000.

Ingram Micro Trading Up 1.0%

NYSE INGM opened at $20.86 on Friday. The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.96 and a current ratio of 1.40. Ingram Micro Holding Corp. has a 52 week low of $14.25 and a 52 week high of $25.69. The business’s fifty day moving average is $17.87.

Ingram Micro (NYSE:INGM) last issued its 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 firm had revenue of $13.34 billion for the quarter, compared to analysts’ expectations of $13.21 billion. As a group, sell-side analysts forecast that Ingram Micro Holding Corp. will post 2.71 EPS for the current fiscal year.

Ingram Micro announced that its board has approved a share buyback plan on Tuesday, March 4th that allows the company to repurchase $75.00 million in outstanding shares. This repurchase authorization allows the company to buy up to 1.5% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s leadership believes its shares are undervalued.

Ingram Micro Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 3rd. Investors of record on Tuesday, May 20th will be issued a $0.076 dividend. The ex-dividend date is Tuesday, May 20th. This is a boost from Ingram Micro’s previous quarterly dividend of $0.07. This represents a $0.30 dividend on an annualized basis and a yield of 1.46%.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on INGM. Evercore ISI dropped their target price on shares of Ingram Micro from $27.00 to $26.00 and set an “in-line” rating on the stock in a research report on Wednesday, March 5th. Royal Bank of Canada raised their price target on shares of Ingram Micro from $26.00 to $28.00 and gave the company an “outperform” rating in a research note on Friday, February 21st. Jefferies Financial Group cut 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. JPMorgan Chase & Co. raised their target price on Ingram Micro from $20.00 to $21.00 and gave the company a “neutral” rating in a research report on Friday, May 9th. Finally, Bank of America dropped their price target on Ingram Micro from $30.00 to $28.00 and set a “buy” rating for the company in a research report on Wednesday, March 5th. Six equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat, Ingram Micro has a consensus rating of “Moderate Buy” and a consensus target price of $25.79.

About Ingram Micro

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.