Bank of New York Mellon Corp Sells 410,574 Shares of The Magnum Ice Cream Company N.V. $MICC

Bank of New York Mellon Corp reduced its stake in The Magnum Ice Cream Company N.V. (NYSE:MICC) by 31.7% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 882,602 shares of the company’s stock after selling 410,574 shares during the quarter. Bank of New York Mellon Corp’s holdings in Magnum Ice Cream were worth $13,195,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Bank Pictet & Cie Europe AG bought a new stake in shares of Magnum Ice Cream during the 4th quarter valued at about $197,000. Banque Pictet & Cie SA acquired a new position in Magnum Ice Cream in the fourth quarter valued at approximately $729,000. Blue Trust Inc. bought a new position in shares of Magnum Ice Cream during the 4th quarter worth approximately $135,000. First Pacific Financial bought a new position in shares of Magnum Ice Cream during the 4th quarter worth approximately $42,000. Finally, Eldred Rock Partners LLC acquired a new stake in shares of Magnum Ice Cream during the 4th quarter worth approximately $490,000.

Magnum Ice Cream Stock Performance

Shares of Magnum Ice Cream stock opened at $18.63 on Friday. The Magnum Ice Cream Company N.V. has a 52-week low of $12.94 and a 52-week high of $19.93. The firm has a 50-day moving average price of $17.64. The company has a current ratio of 1.02, a quick ratio of 0.74 and a debt-to-equity ratio of 5.23.

Magnum Ice Cream (NYSE:MICC) last announced 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 during the quarter. On average, sell-side analysts predict that The Magnum Ice Cream Company N.V. will post 1.09 earnings per share for the current year.

Wall Street Analyst Weigh In

MICC has been the topic of a number of research reports. BNP Paribas Exane downgraded 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 report on Tuesday, May 5th. Jefferies Financial Group reaffirmed a “hold” rating on shares of Magnum Ice Cream in a research note on Thursday, June 25th. Morgan Stanley reiterated an “overweight” rating on shares of Magnum Ice Cream in a report on Monday, June 29th. Finally, Weiss Ratings raised Magnum Ice Cream from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Thursday. Two equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold”.

Magnum Ice Cream Company 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.