Bank of America Corp DE trimmed its holdings in shares of The Magnum Ice Cream Company N.V. (NYSE:MICC - Free Report) by 46.2% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,840,266 shares of the company's stock after selling 3,298,897 shares during the period. Bank of America Corp DE owned about 0.63% of Magnum Ice Cream worth $57,412,000 at the end of the most recent quarter.
Several other hedge funds also recently modified their holdings of MICC. FIL Ltd acquired a new position in Magnum Ice Cream during the fourth quarter worth $360,762,000. Vanguard Group Inc. acquired a new stake in Magnum Ice Cream in the fourth quarter valued at $344,031,000. First Eagle Investment Management LLC bought a new position in shares of Magnum Ice Cream in the 4th quarter valued at about $260,541,000. Norges Bank bought a new position in shares of Magnum Ice Cream in the 4th quarter valued at about $173,632,000. Finally, Barclays PLC acquired a new position in shares of Magnum Ice Cream during the 4th quarter worth about $156,326,000.
Analyst Ratings Changes
A number of research analysts recently commented on MICC shares. Morgan Stanley reiterated an "overweight" rating on shares of Magnum Ice Cream in a research note on Wednesday, August 5th. Zacks Research upgraded Magnum Ice Cream from a "strong sell" rating to a "hold" rating in a report on Tuesday, May 5th. Jefferies Financial Group reaffirmed a "hold" rating on shares of Magnum Ice Cream in a research report on Thursday, June 25th. Weiss Ratings upgraded Magnum Ice Cream from a "sell (d+)" rating to a "hold (c-)" rating in a research note on Thursday, July 30th. Finally, BNP Paribas Exane cut Magnum Ice Cream to a "neutral" rating in a report on Tuesday, April 21st. Two equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold".
Read Our Latest Research Report on Magnum Ice Cream
Magnum Ice Cream Trading Up 1.1%
Shares of Magnum Ice Cream stock opened at $19.41 on Wednesday. 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 Magnum Ice Cream Company N.V. has a twelve month low of $12.94 and a twelve month high of $19.93. The company has a 50-day simple moving average of $18.02 and a two-hundred day simple moving average of $16.47.
Magnum Ice Cream (NYSE:MICC - Get Free Report) last announced its 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. Equities research analysts predict that The Magnum Ice Cream Company N.V. will post 1.1 EPS for the current year.
About Magnum Ice Cream
(
Free Report)
The Magnum Ice Cream Company N.V. engages in ice cream business. The Magnum Ice Cream Company N.V. is based in Amsterdam, Noord-Holland, Netherlands.
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