The Manufacturers Life Insurance Company Sells 92,348 Shares of The Magnum Ice Cream Company N.V. $MICC

Key Points

• The Manufacturers Life Insurance Company cut its Magnum Ice Cream stake by 37.6%, selling 92,348 shares and retaining 152,944 shares valued at approximately $2.23 million.
• Several major institutions—including FIL, Vanguard, First Eagle, Norges Bank and Barclays—opened sizable positions in the company during the fourth quarter.
• Magnum Ice Cream reported quarterly revenue of $2.68 billion and earnings of $0.41 per share. Analysts’ consensus rating is “Hold,” with two Buy, five Hold and one Sell rating.

The Manufacturers Life Insurance Company trimmed its stake in The Magnum Ice Cream Company N.V. (NYSE:MICC - Free Report) by 37.6% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 152,944 shares of the company's stock after selling 92,348 shares during the period. The Manufacturers Life Insurance Company's holdings in Magnum Ice Cream were worth $2,230,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the stock. FIL Ltd bought a new position in shares of Magnum Ice Cream during the fourth quarter valued at $360,762,000. Vanguard Group Inc. bought a new stake in shares of Magnum Ice Cream in the 4th quarter worth about $344,031,000. First Eagle Investment Management LLC acquired a new stake in shares of Magnum Ice Cream during the 4th quarter worth about $260,541,000. Norges Bank acquired a new stake in shares of Magnum Ice Cream during the 4th quarter worth about $173,632,000. Finally, Barclays PLC bought a new position in Magnum Ice Cream during the 4th quarter valued at about $156,326,000.

Magnum Ice Cream Price Performance

Magnum Ice Cream stock opened at $19.24 on Friday. The company has a debt-to-equity ratio of 3.10, a quick ratio of 0.78 and a current ratio of 1.01. The Magnum Ice Cream Company N.V. has a 1 year low of $12.94 and a 1 year high of $19.93. The company's 50-day moving average is $17.90 and its two-hundred day moving average is $16.44.

Magnum Ice Cream (NYSE:MICC - Get Free Report) last announced its quarterly earnings data on Thursday, July 30th. The company reported $0.41 EPS for the quarter. The company had revenue of $2.68 billion for the quarter. As a group, research analysts expect that The Magnum Ice Cream Company N.V. will post 1.1 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the stock. BNP Paribas Exane lowered shares of Magnum Ice Cream to a "neutral" rating in a research report on Tuesday, April 21st. Zacks Research upgraded shares of Magnum Ice Cream from a "strong sell" rating to a "hold" rating in a research note on Tuesday, May 5th. Morgan Stanley reaffirmed an "overweight" rating on shares of Magnum Ice Cream in a report on Wednesday. Weiss Ratings raised Magnum Ice Cream from a "sell (d+)" rating to a "hold (c-)" rating in a research note on Thursday, July 30th. Finally, Jefferies Financial Group restated a "hold" rating on shares of Magnum Ice Cream in a research note on Thursday, June 25th. Two analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold".

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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