The Magnum Ice Cream Company N.V. $MICC Shares Acquired by Pzena Investment Management LLC

Key Points

• Pzena Investment Management increased its Magnum Ice Cream position by 6.2% in the third quarter, adding 815,283 shares to reach 14.0 million shares, valued at about $249.2 million.
• Analyst sentiment is broadly neutral: MarketBeat reports a consensus Hold rating, with two Buy, seven Hold, and one Sell rating.
• Magnum shares were reported up 3.8%, opening at $20.12, near the one-year high of $20.68.

Pzena Investment Management LLC boosted its position in shares of The Magnum Ice Cream Company N.V. (NYSE:MICC - Free Report) by 6.2% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 14,014,899 shares of the company's stock after buying an additional 815,283 shares during the quarter. Pzena Investment Management LLC owned 2.29% of Magnum Ice Cream worth $249,185,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also bought and sold shares of the company. Swiss National Bank increased its stake in shares of Magnum Ice Cream by 26.4% in the first quarter. Swiss National Bank now owns 1,695,991 shares of the company's stock worth $24,854,000 after acquiring an additional 354,523 shares during the period. Envestnet Asset Management Inc. grew its position in Magnum Ice Cream by 109.1% during the 2nd quarter. Envestnet Asset Management Inc. now owns 236,368 shares of the company's stock worth $4,115,000 after purchasing an additional 123,313 shares during the period. Legacy Wealth Asset Management LLC acquired a new stake in Magnum Ice Cream during the 2nd quarter worth about $2,638,000. First Eagle Investment Management LLC raised its stake in shares of Magnum Ice Cream by 1.4% during the 2nd quarter. First Eagle Investment Management LLC now owns 23,021,501 shares of the company's stock valued at $400,636,000 after buying an additional 312,157 shares during the last quarter. Finally, DekaBank Deutsche Girozentrale purchased a new position in shares of Magnum Ice Cream during the 1st quarter valued at about $1,067,000.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the stock. Citigroup initiated coverage on shares of Magnum Ice Cream in a report on Tuesday, September 15th. They set a "neutral" rating for the company. Deutsche Bank Aktiengesellschaft restated a "hold" rating on shares of Magnum Ice Cream in a research report on Wednesday, September 9th. Morgan Stanley restated an "overweight" rating on shares of Magnum Ice Cream in a research report on Wednesday, August 5th. Weiss Ratings reaffirmed a "hold (c-)" rating on shares of Magnum Ice Cream in a report on Wednesday, October 28th. Finally, Jefferies Financial Group reiterated a "hold" rating on shares of Magnum Ice Cream in a research report on Tuesday, October 6th. Two research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Magnum Ice Cream currently has a consensus rating of "Hold".

Magnum Ice Cream Stock Up 3.8%

Shares of Magnum Ice Cream stock opened at $20.12 on Thursday. The stock's 50 day simple moving average is $18.95 and its 200-day simple moving average is $17.25. The Magnum Ice Cream Company N.V. has a 1-year low of $12.94 and a 1-year high of $20.68. The company has a debt-to-equity ratio of 3.10, a quick ratio of 0.78 and a current ratio of 1.01.

Magnum Ice Cream Company Profile

Magnum Ice Cream N.V. is a global ice cream company formed through the separation of Unilever's ice cream business. The company develops, manufactures and markets packaged ice cream products across multiple categories, including indulgent treats, family ice cream and everyday refreshment products.

Its portfolio includes well-known brands such as Magnum, Wall's, Ben & Jerry's, Cornetto, Carte d'Or, Solero and Breyers, although brand availability varies by market. Products are sold through retail, convenience, food-service and other distribution channels in markets around the world.

Magnum Ice Cream is headquartered in Amsterdam, the Netherlands.

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