The Magnum Ice Cream Company N.V. $MICC Shares Sold by Bank of New York Mellon Corp

Key Points

• Bank of New York Mellon reduced its Magnum Ice Cream holdings by 31.7% in the first quarter, selling 410,574 shares and retaining 882,602 shares valued at approximately $13.2 million.
• Several institutional investors, including UBS Group, Zurcher Kantonalbank and Ruffer, established new positions in the company during the fourth quarter.
• Analyst sentiment remains mixed, with a consensus “Hold” rating. Magnum Ice Cream reported quarterly earnings of $0.41 per share on $2.68 billion in revenue, while shares recently traded at $18.63.

Bank of New York Mellon Corp cut its holdings in shares of The Magnum Ice Cream Company N.V. (NYSE:MICC - Free Report) by 31.7% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 882,602 shares of the company's stock after selling 410,574 shares during the period. Bank of New York Mellon Corp owned approximately 0.14% of Magnum Ice Cream worth $13,195,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. UBS Group AG bought a new stake in shares of Magnum Ice Cream in the 4th quarter worth about $97,064,000. Zurcher Kantonalbank Zurich Cantonalbank bought a new stake in shares of Magnum Ice Cream during the fourth quarter valued at approximately $5,807,000. Generali Asset Management SPA SGR acquired a new stake in shares of Magnum Ice Cream in the 4th quarter valued at $1,644,000. Ruffer LLP bought a new position in shares of Magnum Ice Cream in the 4th quarter valued at about $5,398,000. Finally, ASR Vermogensbeheer N.V. bought a new position in Magnum Ice Cream in the fourth quarter valued at approximately $3,156,000.

Analyst Upgrades and Downgrades

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

Magnum Ice Cream Trading Down 0.6%

NYSE:MICC opened at $18.63 on Friday. The company has a fifty day moving average of $17.64. The Magnum Ice Cream Company N.V. has a one year low of $12.94 and a one year high of $19.93. The company has a debt-to-equity ratio of 5.23, a quick ratio of 0.74 and a current ratio of 1.02.

Magnum Ice Cream (NYSE:MICC - Get Free Report) last issued its quarterly earnings data on Thursday, July 30th. The company reported $0.41 earnings per share for the quarter. The business had revenue of $2.68 billion during the quarter. On average, sell-side analysts forecast that The Magnum Ice Cream Company N.V. will post 1.09 EPS for the current fiscal year.

About Magnum Ice Cream

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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