The Magnum Ice Cream Company N.V. $MICC Shares Sold by Ninety One UK Ltd

Ninety One UK Ltd trimmed its position in The Magnum Ice Cream Company N.V. (NYSE:MICC) by 2.8% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 1,040,046 shares of the company’s stock after selling 29,883 shares during the quarter. Ninety One UK Ltd’s holdings in Magnum Ice Cream were worth $18,562,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of MICC. Flossbach Von Storch SE purchased a new stake in Magnum Ice Cream during the 2nd quarter worth approximately $218,507,000. Pzena Investment Management LLC acquired a new position in shares of Magnum Ice Cream during the first quarter valued at approximately $105,191,000. Madison Avenue Partners LP acquired a new position in shares of Magnum Ice Cream during the fourth quarter valued at approximately $101,904,000. Amundi purchased a new position in shares of Magnum Ice Cream in the first quarter valued at approximately $53,720,000. Finally, Bank of America Corp DE lifted its position in shares of Magnum Ice Cream by 14.4% in the second quarter. Bank of America Corp DE now owns 4,393,528 shares of the company’s stock valued at $76,491,000 after acquiring an additional 553,262 shares in the last quarter.

Analyst Ratings Changes

A number of analysts have recently issued reports on the company. Citigroup began coverage on Magnum Ice Cream in a research note on Tuesday, September 15th. They issued a “neutral” rating on the stock. Deutsche Bank Aktiengesellschaft reissued a “hold” rating on shares of Magnum Ice Cream in a research note on Wednesday, September 9th. Weiss Ratings raised Magnum Ice Cream from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Thursday, July 30th. Morgan Stanley restated an “overweight” rating on shares of Magnum Ice Cream in a report on Wednesday, August 5th. Finally, Jefferies Financial Group restated a “hold” rating on shares of Magnum Ice Cream in a report on Tuesday, October 6th. Two investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Magnum Ice Cream presently has a consensus rating of “Hold”.

Magnum Ice Cream Price Performance

NYSE:MICC opened at $18.45 on Friday. The Magnum Ice Cream Company N.V. has a twelve month low of $12.94 and a twelve month high of $20.68. The company’s 50-day moving average price is $19.02 and its 200-day moving average price is $17.33. 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 announced its quarterly earnings data on Thursday, July 30th. The company reported $0.41 earnings per share (EPS) for the quarter. The business had revenue of $2.68 billion for the quarter. On average, research analysts expect that The Magnum Ice Cream Company N.V. will post 1.11 earnings per share for the current year.

About Magnum Ice Cream

Magnum Ice Cream Company N.V. is a global ice cream business headquartered in Amsterdam, the Netherlands. The company was established as an independent business following the separation of Unilever’s ice cream operations and is listed on the New York Stock Exchange under the symbol MICC.

Its portfolio includes Magnum, Wall’s, Ben & Jerry’s, Cornetto, Carte D’Or, Solero, Viennetta, Breyers and Talenti, among other regional and local brands. Products span ice cream tubs, sticks, cones, sandwiches and other frozen desserts, sold through grocery retailers, convenience stores, food-service outlets and other distribution channels.

The company serves consumers across multiple regions, including Europe, North America, Latin America and parts of Asia-Pacific.