The Magnum Ice Cream Company N.V. $MICC Shares Sold by Royal Bank of Canada

Royal Bank of Canada trimmed its holdings in shares of The Magnum Ice Cream Company N.V. (NYSE:MICC) by 26.3% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,419,628 shares of the company’s stock after selling 505,653 shares during the quarter. Royal Bank of Canada’s holdings in Magnum Ice Cream were worth $21,224,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. BNP Paribas acquired a new stake in Magnum Ice Cream in the 4th quarter valued at $27,000. Cullen Frost Bankers Inc. acquired a new position in Magnum Ice Cream during the fourth quarter worth $28,000. Bartlett & CO. Wealth Management LLC purchased a new position in Magnum Ice Cream during the fourth quarter valued at $30,000. Leonteq Securities AG purchased a new position in Magnum Ice Cream during the fourth quarter valued at $30,000. Finally, V Square Quantitative Management LLC acquired a new stake in shares of Magnum Ice Cream in the fourth quarter valued at about $33,000.

Analyst Ratings Changes

A number of analysts have recently commented on the stock. Morgan Stanley reissued an “overweight” rating on shares of Magnum Ice Cream in a research note on Wednesday. Zacks Research upgraded Magnum Ice Cream from a “strong sell” rating to a “hold” rating in a report on Tuesday, May 5th. Weiss Ratings upgraded Magnum Ice Cream from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Thursday, July 30th. BNP Paribas Exane cut Magnum Ice Cream to a “neutral” rating in a report on Tuesday, April 21st. Finally, Jefferies Financial Group reaffirmed a “hold” rating on shares of Magnum Ice Cream in a research note on Thursday, June 25th. Two research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold”.

Magnum Ice Cream Price Performance

NYSE:MICC opened at $18.87 on Thursday. The Magnum Ice Cream Company N.V. has a twelve month low of $12.94 and a twelve month high of $19.93. The company’s 50-day moving average price is $17.79 and its 200-day moving average price is $16.40. The company has a debt-to-equity ratio of 3.10, a current ratio of 1.01 and a quick ratio of 0.78.

Magnum Ice Cream (NYSE:MICC) last released its quarterly earnings data on Thursday, July 30th. The company reported $0.41 EPS for the quarter. The business had revenue of $2.68 billion during the quarter. On average, research analysts expect that The Magnum Ice Cream Company N.V. will post 1.1 earnings per share for the current year.

About Magnum Ice Cream

The Magnum Ice Cream Company N.V. engages in ice cream business. The Magnum Ice Cream Company N.V. is based in Amsterdam, Noord-Holland, Netherlands.