The Magnum Ice Cream Company N.V. $MICC Stake Lifted by Envestnet Asset Management Inc.

Key Points

• Envestnet Asset Management more than doubled its MICC stake in the second quarter, acquiring 123,313 additional shares for a total of 236,368 shares valued at approximately $4.1 million.
• Magnum Ice Cream reported quarterly EPS of $0.41 and revenue of $2.68 billion. Analysts expect full-year EPS of about $1.11.
• MICC opened at $17.48, below its 50-day moving average of $19.19, while analysts maintain a consensus “Hold” rating with two Buys, seven Holds and one Sell.

Envestnet Asset Management Inc. increased its stake in The Magnum Ice Cream Company N.V. (NYSE:MICC - Free Report) by 109.1% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 236,368 shares of the company's stock after acquiring an additional 123,313 shares during the period. Envestnet Asset Management Inc.'s holdings in Magnum Ice Cream were worth $4,115,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Sequoia Financial Advisors LLC boosted its holdings in Magnum Ice Cream by 34.2% in the second quarter. Sequoia Financial Advisors LLC now owns 26,476 shares of the company's stock valued at $461,000 after acquiring an additional 6,748 shares during the last quarter. Integrated Wealth Concepts LLC acquired a new stake in shares of Magnum Ice Cream in the second quarter worth $92,000. Waverly Advisors LLC purchased a new position in shares of Magnum Ice Cream in the 2nd quarter valued at $213,000. Corient Private Wealth LP raised its stake in shares of Magnum Ice Cream by 6.2% in the 2nd quarter. Corient Private Wealth LP now owns 34,521 shares of the company's stock valued at $601,000 after acquiring an additional 2,012 shares during the period. Finally, First Eagle Investment Management LLC lifted its holdings 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 acquiring an additional 312,157 shares in the last quarter.

Magnum Ice Cream Stock Down 0.0%

MICC opened at $17.48 on Monday. The firm's fifty day moving average price is $19.19 and its 200 day moving average price is $17.17. 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 12-month low of $12.94 and a 12-month high of $20.68.

Magnum Ice Cream (NYSE:MICC - Get Free Report) last issued its quarterly earnings results on Thursday, July 30th. The company reported $0.41 EPS for the quarter. The company had revenue of $2.68 billion for the quarter. On average, equities research analysts anticipate that The Magnum Ice Cream Company N.V. will post 1.11 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts have weighed in on MICC shares. Citigroup began coverage on Magnum Ice Cream in a report on Tuesday, September 15th. They issued a "neutral" rating for the company. Morgan Stanley reiterated an "overweight" rating on shares of Magnum Ice Cream in a research note on Wednesday, August 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, July 30th. Jefferies Financial Group reissued a "hold" rating on shares of Magnum Ice Cream in a research report on Thursday, June 25th. Finally, Deutsche Bank Aktiengesellschaft restated a "hold" rating on shares of Magnum Ice Cream in a research note on Wednesday, September 9th. Two analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, Magnum Ice Cream presently has an average rating of "Hold".

Magnum Ice Cream Profile

Magnum Ice Cream Company N.V. is a global ice cream business headquartered in Amsterdam, the Netherlands. The company was established as an independent business following the separation of Unilever's ice cream operations and is listed on the New York Stock Exchange under the symbol MICC.

Its portfolio includes Magnum, Wall's, Ben & Jerry's, Cornetto, Carte D'Or, Solero, Viennetta, Breyers and Talenti, among other regional and local brands. Products span ice cream tubs, sticks, cones, sandwiches and other frozen desserts, sold through grocery retailers, convenience stores, food-service outlets and other distribution channels.

The company serves consumers across multiple regions, including Europe, North America, Latin America and parts of Asia-Pacific.

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