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

Shares of The Magnum Ice Cream Company N.V. (NYSE:MICC) have received an average recommendation of “Hold” from the ten analysts that are presently covering the company, Marketbeat reports. One research analyst has rated the stock with a sell recommendation, seven have given a hold recommendation and two have issued a buy recommendation on the company.

MICC has been the topic of a number of recent research reports. 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 reaffirmed a “hold” rating on shares of Magnum Ice Cream in a report on Tuesday, October 6th. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating on shares of Magnum Ice Cream in a research report on Wednesday, September 9th. Weiss Ratings upgraded shares of Magnum Ice Cream from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Thursday, July 30th. Finally, Morgan Stanley reissued an “overweight” rating on shares of Magnum Ice Cream in a research note on Wednesday, August 5th.

Institutional Investors Weigh In On Magnum Ice Cream

A number of institutional investors have recently made changes to their positions in MICC. Swiss National Bank boosted its holdings in Magnum Ice Cream by 26.4% during the first quarter. Swiss National Bank now owns 1,695,991 shares of the company’s stock worth $24,854,000 after buying an additional 354,523 shares during the last quarter. Legacy Wealth Asset Management LLC bought a new stake in shares of Magnum Ice Cream in the 2nd quarter valued at about $2,638,000. First Eagle Investment Management LLC raised its position in shares of Magnum Ice Cream by 1.4% in the 2nd quarter. First Eagle Investment Management LLC now owns 23,021,501 shares of the company’s stock valued at $400,636,000 after acquiring an additional 312,157 shares during the period. DekaBank Deutsche Girozentrale acquired a new stake in shares of Magnum Ice Cream in the 1st quarter valued at approximately $1,067,000. Finally, Flossbach Von Storch SE acquired a new stake in shares of Magnum Ice Cream in the 2nd quarter valued at approximately $218,507,000.

Magnum Ice Cream Trading Up 1.9%

Shares of NYSE MICC opened at $18.80 on Tuesday. 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 has a 1 year low of $12.94 and a 1 year high of $20.68. The firm’s 50-day moving average is $19.01 and its 200-day moving average is $17.34.

Magnum Ice Cream (NYSE:MICC) last issued its quarterly earnings results on Thursday, July 30th. The company reported $0.41 EPS for the quarter. The business had revenue of $2.68 billion for the quarter. Equities analysts expect that Magnum Ice Cream will post 1.11 EPS 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.