Royal Bank of Canada Sells 505,653 Shares of The Magnum Ice Cream Company N.V. $MICC

Key Points

• Royal Bank of Canada reduced its Magnum Ice Cream stake by 26.3%, selling 505,653 shares in the first quarter while retaining 1.42 million shares worth approximately $21.2 million.
• Magnum Ice Cream shares were up 3.2% at $18.87, near the company’s 52-week high of $19.93. The company reported quarterly EPS of $0.41 on revenue of $2.68 billion.
• Analyst sentiment remains mixed, with two Buy ratings, five Holds and one Sell; MarketBeat’s overall rating is Hold.

Royal Bank of Canada trimmed its position in The Magnum Ice Cream Company N.V. (NYSE:MICC - Free Report) by 26.3% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,419,628 shares of the company's stock after selling 505,653 shares during the period. Royal Bank of Canada owned approximately 0.23% of Magnum Ice Cream worth $21,224,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also made changes to their positions in the business. BNP Paribas purchased a new position in Magnum Ice Cream during the 4th quarter worth $27,000. Cullen Frost Bankers Inc. purchased a new stake in shares of Magnum Ice Cream during the fourth quarter worth about $28,000. Bartlett & CO. Wealth Management LLC acquired a new position in shares of Magnum Ice Cream during the fourth quarter valued at about $30,000. Leonteq Securities AG purchased a new position in shares of Magnum Ice Cream in the 4th quarter valued at approximately $30,000. Finally, V Square Quantitative Management LLC acquired a new stake in Magnum Ice Cream in the 4th quarter worth approximately $33,000.

Magnum Ice Cream Stock Up 3.2%

Magnum Ice Cream stock opened at $18.87 on Thursday. The business's 50-day moving average price is $17.79 and its 200 day moving average price is $16.40. The company has a quick ratio of 0.78, a current ratio of 1.01 and a debt-to-equity ratio of 3.10. The Magnum Ice Cream Company N.V. has a 52 week low of $12.94 and a 52 week high of $19.93.

Magnum Ice Cream (NYSE:MICC - Get Free Report) last released its quarterly earnings data 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 predict that The Magnum Ice Cream Company N.V. will post 1.1 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

MICC has been the subject of a number of research analyst reports. Weiss Ratings raised shares of Magnum Ice Cream from a "sell (d+)" rating to a "hold (c-)" rating in a report on Thursday, July 30th. BNP Paribas Exane cut Magnum Ice Cream to a "neutral" rating in a research report on Tuesday, April 21st. Morgan Stanley reissued an "overweight" rating on shares of Magnum Ice Cream in a report on Wednesday. Jefferies Financial Group reiterated a "hold" rating on shares of Magnum Ice Cream in a research report on Thursday, June 25th. Finally, Zacks Research raised shares of Magnum Ice Cream from a "strong sell" rating to a "hold" rating in a research report on Tuesday, May 5th. Two equities 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. According to MarketBeat, the company has an average rating of "Hold".

Magnum Ice Cream 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.

Want to see what other hedge funds are holding MICC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for The Magnum Ice Cream Company N.V. (NYSE:MICC - Free Report).

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.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source