Amundi Has $61.30 Million Position in The Magnum Ice Cream Company N.V. $MICC

Key Points

• Amundi reduced its Magnum Ice Cream stake by 2% in the second quarter, selling 72,236 shares but retaining 3.52 million shares valued at approximately $61.3 million, or 0.58% of the company.
• Institutional interest was mixed: Swiss National Bank increased its position by 26.4%, while Flossbach von Storch and Norges Bank established sizable new positions.
• Analysts maintain a broadly cautious outlook, with a consensus “Hold” rating based on two Buy, six Hold and one Sell recommendation. Magnum reported quarterly EPS of $0.41 on $2.68 billion in revenue.

Amundi cut its stake in The Magnum Ice Cream Company N.V. (NYSE:MICC - Free Report) by 2.0% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,521,058 shares of the company's stock after selling 72,236 shares during the quarter. Amundi owned approximately 0.58% of Magnum Ice Cream worth $61,302,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of MICC. Swiss National Bank increased its stake in shares of 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 purchasing an additional 354,523 shares during the period. Legacy Wealth Asset Management LLC bought a new stake in Magnum Ice Cream in the 2nd quarter valued at $2,638,000. DekaBank Deutsche Girozentrale bought a new stake in Magnum Ice Cream in the 1st quarter valued at $1,067,000. Flossbach Von Storch SE acquired a new position in Magnum Ice Cream in the 2nd quarter valued at $218,507,000. Finally, Norges Bank acquired a new position in Magnum Ice Cream in the 4th quarter valued at $173,632,000.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on MICC shares. Deutsche Bank Aktiengesellschaft reissued a "hold" rating on shares of Magnum Ice Cream in a report on Wednesday. Morgan Stanley restated an "overweight" rating on shares of Magnum Ice Cream in a research note on Wednesday, August 5th. Weiss Ratings raised shares of Magnum Ice Cream from a "sell (d+)" rating to a "hold (c-)" rating in a research report on Thursday, July 30th. Finally, Jefferies Financial Group reiterated a "hold" rating on shares of Magnum Ice Cream in a research note on Thursday, June 25th. Two investment analysts have rated the stock with a Buy rating, six have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold".

Magnum Ice Cream Price Performance

MICC opened at $19.50 on Friday. The company has a debt-to-equity ratio of 3.10, a current ratio of 1.01 and a quick ratio of 0.78. The Magnum Ice Cream Company N.V. has a 52-week low of $12.94 and a 52-week high of $20.68. The business's fifty day moving average is $19.07 and its 200-day moving average is $16.80.

Magnum Ice Cream (NYSE:MICC - Get Free Report) last posted its quarterly earnings results on Thursday, July 30th. The company reported $0.41 EPS for the quarter. The company had revenue of $2.68 billion during the quarter. Sell-side analysts forecast that The Magnum Ice Cream Company N.V. will post 1.1 earnings per share for the current fiscal year.

Magnum Ice Cream Company Profile

The Magnum Ice Cream Company N.V. is a global ice cream company formed through the separation of Unilever's ice cream business. The company develops, manufactures and markets branded ice cream products for retail, foodservice and other distribution channels.

Its portfolio includes Magnum, Ben & Jerry's, Wall's, Cornetto, Solero, Carte d'Or, Viennetta and Breyers, among other regional and local brands. Products include ice cream tubs, cones, sticks, sandwiches and other frozen desserts.

The company serves consumers across multiple international markets through a combination of owned operations, manufacturing facilities and distribution partners.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.