Wellington Management Group LLP Makes New $26.97 Million Investment in Ingram Micro Holding Corp. (NYSE:INGM)

Wellington Management Group LLP bought a new stake in Ingram Micro Holding Corp. (NYSE:INGM) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 1,390,874 shares of the company’s stock, valued at approximately $26,969,000. Wellington Management Group LLP owned about 0.59% of Ingram Micro at the end of the most recent quarter.

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

Ingram Micro Price Performance

Shares of NYSE:INGM opened at $15.83 on Tuesday. Ingram Micro Holding Corp. has a one year low of $14.95 and a one year high of $25.69. The company has a quick ratio of 0.96, a current ratio of 1.40 and a debt-to-equity ratio of 0.93. The company has a 50 day moving average of $20.93.

Ingram Micro (NYSE:INGM) last announced its quarterly earnings results on Tuesday, March 4th. The company reported $0.92 EPS for the quarter, beating analysts’ consensus estimates of $0.91 by $0.01. The firm had revenue of $13.34 billion during the quarter, compared to the consensus estimate of $13.21 billion. 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 stock repurchase program on Tuesday, March 4th that allows the company to buyback $75.00 million in outstanding shares. This buyback authorization allows the company to purchase up to 1.5% of its stock through open market purchases. Stock buyback programs are often 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 annualized dividend and a dividend yield of 1.87%. The ex-dividend date of this dividend was Tuesday, March 11th.

Analysts Set New Price Targets

A number of research analysts have issued reports on the stock. Royal Bank of Canada increased their target price on shares of Ingram Micro from $26.00 to $28.00 and gave the stock an “outperform” rating in a research report on Friday, February 21st. Raymond James lowered their price objective on Ingram Micro from $28.00 to $26.00 and set an “outperform” rating on the stock in a research note on Wednesday, March 5th. JPMorgan Chase & Co. cut their target price on Ingram Micro from $27.00 to $26.00 and set a “neutral” rating for the company in a research report on Wednesday, March 5th. Morgan Stanley reduced their target price on Ingram Micro from $27.00 to $26.00 and set an “overweight” rating on the stock in a report on Wednesday, March 5th. Finally, Evercore ISI dropped their price target on Ingram Micro from $27.00 to $26.00 and set an “in-line” rating for the company in a research note on Wednesday, March 5th. Six equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $26.64.

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.