The Magnum Ice Cream Company N.V. $MICC Shares Sold by Royal London Asset Management Ltd.

Key Points

• Royal London Asset Management cut its Magnum Ice Cream stake by 11.8% in the second quarter, selling 144,659 shares and retaining 1.08 million shares valued at approximately $18.8 million.
• MICC shares opened at $20.22, near their 52-week high of $20.49, while the company reported quarterly earnings of $0.41 per share on $2.68 billion in revenue.
• Analyst sentiment remains cautious, with two Buy, five Hold, and one Sell rating; MarketBeat’s consensus rating is Hold, despite Morgan Stanley maintaining an Overweight view.

Royal London Asset Management Ltd. decreased its holdings in The Magnum Ice Cream Company N.V. (NYSE:MICC - Free Report) by 11.8% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,079,369 shares of the company's stock after selling 144,659 shares during the quarter. Royal London Asset Management Ltd. owned about 0.18% of Magnum Ice Cream worth $18,792,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Public Employees Retirement System of Ohio grew its stake in shares of Magnum Ice Cream by 2.9% during the 1st quarter. Public Employees Retirement System of Ohio now owns 41,816 shares of the company's stock worth $612,000 after purchasing an additional 1,159 shares during the period. Keybank National Association OH lifted its stake 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 buying an additional 1,387 shares in the last quarter. BNP Paribas purchased a new position in shares of Magnum Ice Cream during the fourth quarter valued at approximately $27,000. Credit Industriel ET Commercial raised its holdings in Magnum Ice Cream by 144.4% in the 1st quarter. Credit Industriel ET Commercial now owns 2,957 shares of the company's stock valued at $43,000 after acquiring an additional 1,747 shares during the last quarter. Finally, Cullen Frost Bankers Inc. purchased a new position in Magnum Ice Cream during the fourth quarter worth about $28,000.

Magnum Ice Cream Stock Up 0.2%

MICC stock opened at $20.22 on Monday. The firm has a 50-day moving average of $18.67 and a two-hundred day moving average of $16.65. The Magnum Ice Cream Company N.V. has a one year low of $12.94 and a one year high of $20.49. The company has a quick ratio of 0.78, a current ratio of 1.01 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 earnings per share for the quarter. The business had revenue of $2.68 billion during the quarter. On average, research analysts expect that The Magnum Ice Cream Company N.V. will post 1.1 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the company. Jefferies Financial Group reissued a "hold" rating on shares of Magnum Ice Cream in a research report on Thursday, June 25th. Morgan Stanley reissued an "overweight" rating on shares of Magnum Ice Cream in a report on Wednesday, August 5th. 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. Finally, Weiss Ratings raised Magnum Ice Cream from a "sell (d+)" rating to a "hold (c-)" rating in a research report on Thursday, July 30th. Two equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, the stock has an average rating of "Hold".

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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