The Magnum Ice Cream Company N.V. (NYSE:MICC) Stock Rated “Hold” by Wall Street Brokerages

The Magnum Ice Cream Company N.V. (NYSE:MICC) has been assigned a consensus rating of “Hold” from the ten analysts that are presently covering the company, MarketBeat.com reports. One research analyst has rated the stock with a sell rating, seven have given a hold rating and two have assigned a buy rating to the company.

A number of brokerages recently weighed in on MICC. Citigroup started coverage on shares of Magnum Ice Cream in a research note on Tuesday, September 15th. They issued a “neutral” rating on the stock. Jefferies Financial Group reissued a “hold” rating on shares of Magnum Ice Cream in a research note on Tuesday, October 6th. Weiss Ratings raised shares of Magnum Ice Cream from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Thursday, July 30th. Deutsche Bank Aktiengesellschaft reissued a “hold” rating on shares of Magnum Ice Cream in a report on Wednesday, September 9th. Finally, Morgan Stanley reissued an “overweight” rating on shares of Magnum Ice Cream in a report on Wednesday, August 5th.

Magnum Ice Cream Stock Performance

NYSE:MICC opened at $18.45 on Tuesday. The business’s 50-day moving average price is $19.02 and its two-hundred day moving average price is $17.33. Magnum Ice Cream has a twelve month low of $12.94 and a twelve month high of $20.68. The company has a quick ratio of 0.78, a current ratio of 1.01 and a debt-to-equity ratio of 3.10.

Magnum Ice Cream (NYSE:MICC) last issued its quarterly earnings results 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. As a group, equities research analysts predict that Magnum Ice Cream will post 1.11 earnings per share for the current year.

Institutional Trading of Magnum Ice Cream

A number of hedge funds have recently bought and sold shares of MICC. QRG Capital Management Inc. boosted its stake in Magnum Ice Cream by 8.2% in the second quarter. QRG Capital Management Inc. now owns 11,093 shares of the company’s stock worth $193,000 after buying an additional 844 shares in the last quarter. Public Employees Retirement System of Ohio grew its position in Magnum Ice Cream by 2.9% during the first quarter. Public Employees Retirement System of Ohio now owns 41,816 shares of the company’s stock valued at $612,000 after acquiring an additional 1,159 shares during the last quarter. Keybank National Association OH grew its position in Magnum Ice Cream by 11.2% during the first quarter. Keybank National Association OH now owns 13,761 shares of the company’s stock valued at $206,000 after acquiring an additional 1,387 shares during the last quarter. Mather Group LLC. grew its position in Magnum Ice Cream by 106.9% during the third quarter. Mather Group LLC. now owns 3,149 shares of the company’s stock valued at $56,000 after acquiring an additional 1,627 shares during the last quarter. Finally, Credit Industriel ET Commercial raised its stake in shares of Magnum Ice Cream by 144.4% during the first quarter. Credit Industriel ET Commercial now owns 2,957 shares of the company’s stock worth $43,000 after acquiring an additional 1,747 shares in the last quarter.

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.