JPMorgan Chase & Co. Has $45.09 Million Stock Holdings in Ingram Micro Holding Corporation $INGM

JPMorgan Chase & Co. decreased its stake in Ingram Micro Holding Corporation (NYSE:INGM) by 4.1% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 2,097,936 shares of the company’s stock after selling 90,614 shares during the quarter. JPMorgan Chase & Co.’s holdings in Ingram Micro were worth $45,085,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of INGM. Rhumbline Advisers lifted its stake in Ingram Micro by 6.3% during the second quarter. Rhumbline Advisers now owns 13,646 shares of the company’s stock valued at $284,000 after buying an additional 803 shares in the last quarter. Quantbot Technologies LP boosted its holdings in shares of 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 buying an additional 868 shares during the period. Comerica Bank increased its position in shares of Ingram Micro by 2,844.2% in the third quarter. Comerica Bank now owns 3,798 shares of the company’s stock worth $82,000 after acquiring an additional 3,669 shares in the last quarter. PNC Financial Services Group Inc. raised 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 acquiring an additional 4,835 shares during the period. Finally, Aquatic Capital Management LLC acquired a new stake in shares of Ingram Micro during the third quarter valued at approximately $110,000.

Wall Street Analyst Weigh In

INGM has been the subject of a number of recent analyst reports. Morgan Stanley raised their price objective on shares of Ingram Micro from $21.00 to $23.00 and gave the stock an “equal weight” rating in a research note on Tuesday, March 3rd. Wall Street Zen upgraded Ingram Micro from a “buy” rating to a “strong-buy” rating in a report on Saturday, March 7th. The Goldman Sachs Group cut Ingram Micro from a “strong-buy” rating to a “neutral” rating and set a $24.00 target price for the company. in a research report on Tuesday, January 13th. Weiss Ratings reiterated a “hold (c)” rating on shares of Ingram Micro in a report on Monday, December 29th. Finally, Zacks Research raised Ingram Micro from a “strong sell” rating to a “hold” rating in a research report on Monday, February 23rd. Four equities research 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 data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $24.33.

Ingram Micro Stock Down 0.4%

INGM stock opened at $22.09 on Friday. The company has a 50 day moving average of $21.66 and a two-hundred day moving average of $21.51. The company has a market cap of $5.19 billion, a price-to-earnings ratio of 16.01, a PEG ratio of 0.76 and a beta of 2.27. Ingram Micro Holding Corporation has a 12-month low of $14.25 and a 12-month high of $26.38. The company has a quick ratio of 0.97, a current ratio of 1.33 and a debt-to-equity ratio of 0.65.

Ingram Micro (NYSE:INGM) last posted its quarterly earnings results on Monday, March 2nd. The company reported $0.96 EPS 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 business had revenue of $14.88 billion for the quarter, compared to analysts’ expectations of $14.18 billion. The firm’s quarterly revenue was up 11.5% on a year-over-year basis. On average, equities analysts anticipate that Ingram Micro Holding Corporation will post 2.71 earnings per share for the current fiscal year.

Ingram Micro Increases Dividend

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

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

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.