Flossbach Von Storch SE Makes New $218.51 Million Investment in The Magnum Ice Cream Company N.V. $MICC

Key Points

• Flossbach Von Storch SE bought 12.56 million shares of The Magnum Ice Cream Company, valued at approximately $218.5 million. The stake represents 2.05% of the company and about 1% of the investor’s portfolio.
• Other institutional investors also increased exposure to MICC, including UBS Group, while Swiss National Bank raised its position by 26.4% to 1.70 million shares.
• Analyst sentiment remains mixed but leans toward caution: two analysts rate the stock Buy, five Hold and one Sell, producing an overall Hold rating. MICC recently reported quarterly EPS of $0.41 on $2.68 billion in revenue.

Flossbach Von Storch SE purchased a new position in shares of The Magnum Ice Cream Company N.V. (NYSE:MICC - Free Report) during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 12,556,043 shares of the company's stock, valued at approximately $218,507,000. Magnum Ice Cream makes up about 1.0% of Flossbach Von Storch SE's investment portfolio, making the stock its 28th largest position. Flossbach Von Storch SE owned 2.05% of Magnum Ice Cream at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in MICC. UBS Group AG purchased a new position in shares of Magnum Ice Cream in the fourth quarter worth $97,064,000. Zurcher Kantonalbank Zurich Cantonalbank purchased a new position in Magnum Ice Cream in the 4th quarter worth $5,807,000. Generali Asset Management SPA SGR acquired a new stake in Magnum Ice Cream during the 4th quarter worth about $1,644,000. DekaBank Deutsche Girozentrale acquired a new stake in Magnum Ice Cream during the 1st quarter worth about $1,067,000. Finally, Swiss National Bank grew its stake in Magnum Ice Cream by 26.4% during the 1st 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 during the last quarter.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on MICC shares. Morgan Stanley reissued an "overweight" rating on shares of Magnum Ice Cream in a report on Wednesday, August 5th. Weiss Ratings raised Magnum Ice Cream from a "sell (d+)" rating to a "hold (c-)" rating in a report on Thursday, July 30th. Jefferies Financial Group reiterated a "hold" rating on shares of Magnum Ice Cream in a research report on Thursday, June 25th. Finally, Zacks Research upgraded shares of Magnum Ice Cream from a "strong sell" rating to a "hold" rating in a report on Tuesday, May 5th. Two research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Hold".

Magnum Ice Cream Price Performance

NYSE MICC opened at $19.41 on Thursday. The Magnum Ice Cream Company N.V. has a 1 year low of $12.94 and a 1 year high of $20.10. The company has a debt-to-equity ratio of 3.10, a quick ratio of 0.78 and a current ratio of 1.01. The company has a fifty day moving average of $18.29 and a 200 day moving average of $16.56.

Magnum Ice Cream (NYSE:MICC - Get Free Report) last announced its quarterly earnings results on Thursday, July 30th. The company reported $0.41 earnings per share for the quarter. The company had revenue of $2.68 billion for the quarter. On average, research analysts anticipate 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. engages in ice cream business. The Magnum Ice Cream Company N.V. is based in Amsterdam, Noord-Holland, Netherlands.

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