The Magnum Ice Cream Company N.V. (MICC) - What Are Brokerages Saying About This Stock?

Key Points

• Analysts have a consensus “Hold” rating on Magnum Ice Cream: eight of 10 covering firms rate it Hold, one rates it Sell, and one rates it Buy. Morgan Stanley recently downgraded the stock from Overweight to Equal Weight.
• Several institutional investors increased or initiated positions, including Swiss National Bank and Envestnet Asset Management; First Eagle Investment Management holds about 23 million shares.
• MICC opened at $19.38, within its 52-week range of $12.94 to $20.68. Its 50-day moving average was $18.93 and its 200-day average was $17.28.

Shares of The Magnum Ice Cream Company N.V. (NYSE:MICC - Get Free Report) have earned a consensus rating of "Hold" from the ten ratings firms that are currently covering the company, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation, eight have assigned a hold recommendation and one has issued a buy recommendation on the company.

Several research firms have weighed in on MICC. Jefferies Financial Group restated a "hold" rating on shares of Magnum Ice Cream in a research report on Tuesday, October 6th. Morgan Stanley lowered shares of Magnum Ice Cream from an "overweight" rating to an "equal weight" rating in a report on Friday. Deutsche Bank Aktiengesellschaft reaffirmed a "hold" rating on shares of Magnum Ice Cream in a research note on Wednesday, September 9th. Weiss Ratings reissued a "hold (c-)" rating on shares of Magnum Ice Cream in a research report on Wednesday, October 28th. Finally, Citigroup started coverage on Magnum Ice Cream in a research report on Tuesday, September 15th. They set a "neutral" rating for the company.

Hedge Funds Weigh In On Magnum Ice Cream

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Swiss National Bank raised its stake in Magnum Ice Cream by 26.4% in the first quarter. Swiss National Bank now owns 1,695,991 shares of the company's stock valued at $24,854,000 after purchasing an additional 354,523 shares in the last quarter. Envestnet Asset Management Inc. boosted its holdings in Magnum Ice Cream by 109.1% in the second quarter. Envestnet Asset Management Inc. now owns 236,368 shares of the company's stock valued at $4,115,000 after purchasing an additional 123,313 shares during the period. Legacy Wealth Asset Management LLC acquired a new stake in Magnum Ice Cream in the second quarter valued at $2,638,000. First Eagle Investment Management LLC boosted its holdings in 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 worth $400,636,000 after acquiring an additional 312,157 shares during the period. Finally, DekaBank Deutsche Girozentrale acquired a new position in shares of Magnum Ice Cream during the 1st quarter valued at $1,067,000.

Magnum Ice Cream Stock Down 3.6%

NYSE MICC opened at $19.38 on Friday. The firm has a 50-day moving average price of $18.93 and a 200 day moving average price of $17.28. 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 has a 52-week low of $12.94 and a 52-week high of $20.68.

Magnum Ice Cream Company Profile

Magnum Ice Cream N.V. is a global ice cream company formed through the separation of Unilever's ice cream business. The company develops, manufactures and markets packaged ice cream products across multiple categories, including indulgent treats, family ice cream and everyday refreshment products.

Its portfolio includes well-known brands such as Magnum, Wall's, Ben & Jerry's, Cornetto, Carte d'Or, Solero and Breyers, although brand availability varies by market. Products are sold through retail, convenience, food-service and other distribution channels in markets around the world.

Magnum Ice Cream is headquartered in Amsterdam, the Netherlands.

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