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

Shares of The Magnum Ice Cream Company N.V. (NYSE:MICC) have been given a consensus recommendation of “Hold” by the ten brokerages that are presently covering the stock, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation, eight have issued a hold recommendation and one has assigned a buy recommendation to the company.

A number of equities research analysts have recently weighed in on MICC shares. Deutsche Bank Aktiengesellschaft restated a “hold” rating on shares of Magnum Ice Cream in a report on Wednesday, September 9th. Weiss Ratings reiterated a “hold (c-)” rating on shares of Magnum Ice Cream in a report on Wednesday, October 28th. Citigroup assumed coverage on Magnum Ice Cream in a research note on Tuesday, September 15th. They set a “neutral” rating on the stock. Jefferies Financial Group reaffirmed a “hold” rating on shares of Magnum Ice Cream in a research report on Tuesday, October 6th. Finally, Morgan Stanley cut Magnum Ice Cream from an “overweight” rating to an “equal weight” rating in a report on Friday.

Magnum Ice Cream Stock Down 3.6%

Shares of MICC stock opened at $19.38 on Friday. The stock has a 50 day simple moving average of $18.93 and a 200 day simple moving average of $17.28. Magnum Ice Cream has a 1 year low of $12.94 and a 1 year high of $20.68. The company has a current ratio of 1.01, a quick ratio of 0.78 and a debt-to-equity ratio of 3.10.

Institutional Investors Weigh In On Magnum Ice Cream

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Jacobi Capital Management LLC bought a new stake in shares of Magnum Ice Cream during the 3rd quarter valued at $30,000. Guardian Partners Inc. acquired a new stake in Magnum Ice Cream during the 3rd quarter worth approximately $46,000. Mather Group LLC. raised its stake in Magnum Ice Cream by 106.9% in the 3rd quarter. Mather Group LLC. now owns 3,149 shares of the company’s stock valued at $56,000 after purchasing an additional 1,627 shares during the last quarter. Allworth Financial LP grew its holdings in Magnum Ice Cream by 43.4% during the 3rd quarter. Allworth Financial LP now owns 3,976 shares of the company’s stock valued at $69,000 after purchasing an additional 1,203 shares in the last quarter. Finally, Integrated Wealth Concepts LLC bought a new position in Magnum Ice Cream in the 2nd quarter worth approximately $92,000.

Magnum Ice Cream Company Profile

Magnum Ice Cream N.V. is a global ice cream company formed through the separation of Unilever’s ice cream business. The company develops, manufactures and markets packaged ice cream products across multiple categories, including indulgent treats, family ice cream and everyday refreshment products.

Its portfolio includes well-known brands such as Magnum, Wall’s, Ben & Jerry’s, Cornetto, Carte d’Or, Solero and Breyers, although brand availability varies by market. Products are sold through retail, convenience, food-service and other distribution channels in markets around the world.

Magnum Ice Cream is headquartered in Amsterdam, the Netherlands.