Seven Grand Managers LLC Invests $970,000 in Ingram Micro Holding Corp. (NYSE:INGM)

Seven Grand Managers LLC bought a new stake in Ingram Micro Holding Corp. (NYSE:INGM) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 50,000 shares of the company’s stock, valued at approximately $970,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Wells Fargo & Company MN purchased a new position in shares of Ingram Micro during the fourth quarter worth $45,000. Cohen & Steers Inc. acquired a new position in Ingram Micro during the 4th quarter worth about $48,000. Tower Research Capital LLC TRC acquired a new position in Ingram Micro during the 4th quarter worth about $52,000. Cubist Systematic Strategies LLC purchased a new position in Ingram Micro during the 4th quarter valued at about $80,000. Finally, Russell Investments Group Ltd. acquired a new position in Ingram Micro in the 4th quarter valued at about $120,000.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the stock. Bank of America lowered their price objective on shares of Ingram Micro from $30.00 to $28.00 and set a “buy” rating for the company in a research note on Wednesday, March 5th. Jefferies Financial Group decreased their price target on shares of Ingram Micro from $28.00 to $24.00 and set a “buy” rating for the company in a research report on Tuesday, March 25th. Royal Bank of Canada upped their price objective on Ingram Micro from $26.00 to $28.00 and gave the stock an “outperform” rating in a research report on Friday, February 21st. Loop Capital decreased their target price on Ingram Micro from $30.00 to $25.00 and set a “buy” rating for the company in a report on Monday, March 10th. Finally, Morgan Stanley upped their price target on Ingram Micro from $18.00 to $23.00 and gave the stock an “overweight” rating in a report on Friday, May 9th. Six investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $25.79.

Ingram Micro Trading Up 1.0%

Shares of Ingram Micro stock 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 company has a 50 day moving average of $17.87.

Ingram Micro (NYSE:INGM) last issued its earnings results on Tuesday, March 4th. The company reported $0.92 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.91 by $0.01. The company had revenue of $13.34 billion during the quarter, compared to analyst estimates of $13.21 billion. On average, sell-side analysts anticipate that Ingram Micro Holding Corp. will post 2.71 EPS for the current year.

Ingram Micro Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 3rd. Shareholders of record on Tuesday, May 20th will be issued a dividend of $0.076 per share. This is a positive change from Ingram Micro’s previous quarterly dividend of $0.07. The ex-dividend date of this dividend is Tuesday, May 20th. This represents a $0.30 annualized dividend and a dividend yield of 1.46%.

Ingram Micro announced that its board has authorized a stock buyback plan on Tuesday, March 4th that permits the company to repurchase $75.00 million in shares. This repurchase authorization permits the company to repurchase up to 1.5% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s board believes its shares are undervalued.

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.