Rathbones Group PLC Has $17 Million Stock Position in The Magnum Ice Cream Company N.V. $MICC

Key Points

• Rathbones Group cut its Magnum Ice Cream stake by 44.1% in the first quarter, selling 916,033 shares and retaining 1,162,646 shares valued at approximately $17 million, or 0.19% of the company.
• Analyst sentiment remains mixed but leans neutral: two analysts rate MICC a Buy, five rate it Hold, and one rates it Sell, producing a consensus Hold rating.
• Magnum Ice Cream reported quarterly earnings of $0.41 per share on $2.68 billion in revenue. The stock opened at $18.38, within its 12-month range of $12.94 to $19.93.

Rathbones Group PLC lessened its holdings in The Magnum Ice Cream Company N.V. (NYSE:MICC - Free Report) by 44.1% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,162,646 shares of the company's stock after selling 916,033 shares during the quarter. Rathbones Group PLC owned 0.19% of Magnum Ice Cream worth $16,999,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Public Employees Retirement System of Ohio increased its position in Magnum Ice Cream by 2.9% during the first quarter. Public Employees Retirement System of Ohio now owns 41,816 shares of the company's stock worth $612,000 after acquiring an additional 1,159 shares during the period. Keybank National Association OH boosted its holdings in Magnum Ice Cream by 11.2% in the 1st quarter. Keybank National Association OH now owns 13,761 shares of the company's stock valued at $206,000 after purchasing an additional 1,387 shares during the period. BNP Paribas acquired a new position in shares of Magnum Ice Cream during the 4th quarter worth approximately $27,000. Credit Industriel ET Commercial grew its position in shares of Magnum Ice Cream by 144.4% during the 1st quarter. Credit Industriel ET Commercial now owns 2,957 shares of the company's stock worth $43,000 after purchasing an additional 1,747 shares in the last quarter. Finally, Cullen Frost Bankers Inc. bought a new position in shares of Magnum Ice Cream during the fourth quarter worth approximately $28,000.

Analyst Ratings Changes

MICC has been the subject of a number of analyst reports. Jefferies Financial Group reiterated a "hold" rating on shares of Magnum Ice Cream in a research report on Thursday, June 25th. Weiss Ratings raised Magnum Ice Cream from a "sell (d+)" rating to a "hold (c-)" rating in a research report on Thursday. Zacks Research upgraded Magnum Ice Cream from a "strong sell" rating to a "hold" rating in a research note on Tuesday, May 5th. Morgan Stanley reaffirmed an "overweight" rating on shares of Magnum Ice Cream in a report on Monday, June 29th. Finally, BNP Paribas Exane downgraded Magnum Ice Cream to a "neutral" rating in a research report on Tuesday, April 21st. Two analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Hold".

Magnum Ice Cream Stock Performance

Shares of NYSE MICC opened at $18.38 on Tuesday. 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 12 month low of $12.94 and a 12 month high of $19.93. The stock has a 50-day moving average price of $17.69 and a two-hundred day moving average price of $16.37.

Magnum Ice Cream (NYSE:MICC - Get Free Report) last posted its 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. As a group, equities research analysts expect that The Magnum Ice Cream Company N.V. will post 1.1 EPS for the current 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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