Trian Fund Management L.P. Takes $4.20 Million Position in The Magnum Ice Cream Company N.V. $MICC

Key Points

• Trian Fund Management initiated a roughly $4.20 million position in The Magnum Ice Cream Company, purchasing 241,042 shares during the second quarter. The stake represents about 0.1% of Trian’s portfolio and is its eighth-largest holding.
• Analyst sentiment remains mixed but leans neutral: two analysts rate MICC a Buy, five rate it Hold, and one rates it Sell, producing a consensus rating of Hold.
• MICC shares opened at $19.96, near their 52-week high of $20.10, while the company reported quarterly earnings of $0.41 per share on $2.68 billion in revenue.

Trian Fund Management L.P. purchased a new stake in shares of The Magnum Ice Cream Company N.V. (NYSE:MICC - Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 241,042 shares of the company's stock, valued at approximately $4,197,000. Magnum Ice Cream accounts for about 0.1% of Trian Fund Management L.P.'s holdings, making the stock its 8th largest holding.

A number of other institutional investors also recently bought and sold shares of the stock. BNP Paribas bought a new position in Magnum Ice Cream during the fourth quarter valued at $27,000. Cullen Frost Bankers Inc. bought a new stake in shares of Magnum Ice Cream in the 4th quarter worth about $28,000. Leonteq Securities AG bought a new stake in shares of Magnum Ice Cream in the 4th quarter worth about $30,000. Acumen Wealth Advisors LLC purchased a new position in shares of Magnum Ice Cream during the 4th quarter worth about $35,000. Finally, Larson Financial Group LLC purchased a new position in shares of Magnum Ice Cream during the 4th quarter worth about $37,000.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on MICC shares. 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. Jefferies Financial Group reiterated 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 report on Wednesday, August 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 issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Magnum Ice Cream presently has a consensus rating of "Hold".

Magnum Ice Cream Stock Performance

Shares of MICC opened at $19.96 on Friday. The company has a current ratio of 1.01, a quick ratio of 0.78 and a debt-to-equity ratio of 3.10. The Magnum Ice Cream Company N.V. has a 1-year low of $12.94 and a 1-year high of $20.10. The company has a 50-day moving average of $18.37 and a 200 day moving average of $16.59.

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