The Magnum Ice Cream Company N.V. $MICC Shares Bought by First Eagle Investment Management LLC

Key Points

• First Eagle Investment Management increased its Magnum Ice Cream position by 1.4% in the second quarter, adding 312,157 shares to own 23.0 million shares, or approximately 3.76% of the company.
• Analyst sentiment remains mixed: Morgan Stanley reaffirmed an “overweight” rating, while Jefferies maintained “hold” and Weiss Ratings upgraded the stock to “hold.” The overall consensus rating is “Hold.”
• MICC shares opened at $19.34, near their 52-week high of $20.68. The company reported quarterly EPS of $0.41 on $2.68 billion in revenue, while analysts expect full-year EPS of approximately $1.10.

First Eagle Investment Management LLC increased its position in shares of The Magnum Ice Cream Company N.V. (NYSE:MICC - Free Report) by 1.4% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 23,021,501 shares of the company's stock after buying an additional 312,157 shares during the quarter. First Eagle Investment Management LLC owned about 3.76% of Magnum Ice Cream worth $400,636,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. CWM LLC acquired a new position in shares of Magnum Ice Cream in the fourth quarter valued at approximately $75,000. M&T Bank Corp purchased a new stake in shares of Magnum Ice Cream during the 4th quarter worth $836,000. Truist Financial Corp acquired a new position in shares of Magnum Ice Cream during the 4th quarter worth $1,604,000. ASR Vermogensbeheer N.V. acquired a new position in shares of Magnum Ice Cream during the 4th quarter worth $3,156,000. Finally, Generali Asset Management SPA SGR purchased a new position in shares of Magnum Ice Cream in the 4th quarter valued at about $1,644,000.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on MICC. Morgan Stanley reaffirmed an "overweight" rating on shares of Magnum Ice Cream in a report on Wednesday, August 5th. Jefferies Financial Group reissued a "hold" rating on shares of Magnum Ice Cream in a research note on Thursday, June 25th. Finally, Weiss Ratings upgraded Magnum Ice Cream from a "sell (d+)" rating to a "hold (c-)" rating in a research note on Thursday, July 30th. Two research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, Magnum Ice Cream presently has a consensus rating of "Hold".

Magnum Ice Cream Trading Up 0.1%

Shares of NYSE:MICC opened at $19.34 on Monday. The Magnum Ice Cream Company N.V. has a 1 year low of $12.94 and a 1 year high of $20.68. The stock has a 50-day simple moving average of $18.96 and a 200-day simple moving average of $16.72. The company has a current ratio of 1.01, a quick ratio of 0.78 and a debt-to-equity ratio of 3.10.

Magnum Ice Cream (NYSE:MICC - Get Free Report) last issued its earnings results on Thursday, July 30th. The company reported $0.41 EPS for the quarter. The business had revenue of $2.68 billion during the quarter. As a group, sell-side analysts forecast that The Magnum Ice Cream Company N.V. will post 1.1 EPS for the current year.

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.

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