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

Ninety One UK Ltd trimmed its position in shares of The Magnum Ice Cream Company N.V. (NYSE:MICC) by 2.8% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). 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 owned approximately 0.17% of Magnum Ice Cream worth $18,562,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the company. Banque Cantonale Vaudoise purchased a new stake in Magnum Ice Cream during the first quarter worth $37,000. Credit Industriel ET Commercial increased its holdings in Magnum Ice Cream by 144.4% in the first quarter. Credit Industriel ET Commercial now owns 2,957 shares of the company’s stock valued at $43,000 after buying an additional 1,747 shares in the last quarter. Mather Group LLC. increased its holdings in Magnum Ice Cream by 106.9% in the third quarter. Mather Group LLC. now owns 3,149 shares of the company’s stock valued at $56,000 after buying an additional 1,627 shares in the last quarter. Integrated Wealth Concepts LLC purchased a new position in Magnum Ice Cream in the second quarter valued at $92,000. Finally, Anchor Investment Management LLC acquired a new position in shares of Magnum Ice Cream in the fourth quarter worth about $120,000.

Analysts Set New Price Targets

MICC has been the topic of several recent analyst reports. Morgan Stanley reissued an “overweight” rating on shares of Magnum Ice Cream in a research note on Wednesday, August 5th. Citigroup assumed coverage on Magnum Ice Cream in a research report on Tuesday, September 15th. They set a “neutral” rating on the stock. Deutsche Bank Aktiengesellschaft restated a “hold” rating on shares of Magnum Ice Cream in a research note on Wednesday, September 9th. Jefferies Financial Group reaffirmed a “hold” rating on shares of Magnum Ice Cream in a report on Tuesday, October 6th. Finally, Weiss Ratings raised Magnum Ice Cream from a “sell (d+)” rating to a “hold (c-)” rating in a report on Thursday, July 30th. Two research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold”.

Magnum Ice Cream Trading Up 1.4%

Shares of NYSE:MICC opened at $18.45 on Friday. The Magnum Ice Cream Company N.V. has a 1 year low of $12.94 and a 1 year high of $20.68. The company has a current ratio of 1.01, a quick ratio of 0.78 and a debt-to-equity ratio of 3.10. The business’s 50 day moving average price is $19.02 and its 200-day moving average price is $17.33.

Magnum Ice Cream (NYSE:MICC) last released its quarterly earnings results on Thursday, July 30th. The company reported $0.41 earnings per share (EPS) for the quarter. The company had revenue of $2.68 billion during the quarter. Research analysts anticipate 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.