The Magnum Ice Cream Company N.V. (NYSE:MICC) Stock Now Rated “Hold” by Sell-Side Analysts

Shares of The Magnum Ice Cream Company N.V. (NYSE:MICC) have received an average rating of “Hold” from the ten research firms that are currently covering the company, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating, seven have given a hold rating and two have issued a buy rating on the company.

MICC has been the subject of several recent research reports. Citigroup assumed coverage on shares of Magnum Ice Cream in a research report on Tuesday, September 15th. They set a “neutral” rating for the company. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating on shares of Magnum Ice Cream in a research note on Wednesday, September 9th. Morgan Stanley reiterated an “overweight” rating on shares of Magnum Ice Cream in a report on Wednesday, August 5th. Jefferies Financial Group reaffirmed a “hold” rating on shares of Magnum Ice Cream in a research note on Thursday, June 25th. Finally, Weiss Ratings upgraded shares of Magnum Ice Cream from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Thursday, July 30th.

Hedge Funds Weigh In On Magnum Ice Cream

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. QRG Capital Management Inc. raised its stake in Magnum Ice Cream by 8.2% during the 2nd quarter. QRG Capital Management Inc. now owns 11,093 shares of the company’s stock worth $193,000 after buying an additional 844 shares during the period. Envestnet Asset Management Inc. grew its stake in Magnum Ice Cream by 109.1% in the second quarter. Envestnet Asset Management Inc. now owns 236,368 shares of the company’s stock valued at $4,115,000 after acquiring an additional 123,313 shares during the period. Sequoia Financial Advisors LLC increased its holdings in shares of Magnum Ice Cream by 34.2% in the second quarter. Sequoia Financial Advisors LLC now owns 26,476 shares of the company’s stock worth $461,000 after acquiring an additional 6,748 shares in the last quarter. Integrated Wealth Concepts LLC bought a new stake in shares of Magnum Ice Cream in the second quarter worth about $92,000. Finally, Waverly Advisors LLC bought a new stake in shares of Magnum Ice Cream in the second quarter worth about $213,000.

Magnum Ice Cream Price Performance

Shares of NYSE:MICC opened at $19.25 on Friday. The company has a debt-to-equity ratio of 3.10, a current ratio of 1.01 and a quick ratio of 0.78. Magnum Ice Cream has a 1-year low of $12.94 and a 1-year high of $20.68. The business has a 50-day moving average price of $19.19 and a two-hundred day moving average price of $17.05.

Magnum Ice Cream (NYSE:MICC) last issued its quarterly earnings results on Thursday, July 30th. The company reported $0.41 EPS for the quarter. The business had revenue of $2.68 billion for the quarter. On average, equities research analysts expect that Magnum Ice Cream will post 1.1 earnings per share for the current year.

About Magnum Ice Cream

The Magnum Ice Cream Company N.V. is a global ice cream company formed through the separation of Unilever’s ice cream business. The company develops, manufactures and markets branded ice cream products for retail, foodservice and other distribution channels.

Its portfolio includes Magnum, Ben & Jerry’s, Wall’s, Cornetto, Solero, Carte d’Or, Viennetta and Breyers, among other regional and local brands. Products include ice cream tubs, cones, sticks, sandwiches and other frozen desserts.

The company serves consumers across multiple international markets through a combination of owned operations, manufacturing facilities and distribution partners.