Magnum Ice Cream (NYSE:MICC) Hits New 1-Year High – Here’s What Happened

The Magnum Ice Cream Company N.V. (NYSE:MICC) shares reached a new 52-week high on Monday . The stock traded as high as $20.22 and last traded at $20.22, with a volume of 3936 shares trading hands. The stock had previously closed at $19.96.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on MICC. Jefferies Financial Group reiterated a “hold” rating on shares of Magnum Ice Cream in a research report on Thursday, June 25th. Zacks Research upgraded shares of Magnum Ice Cream from a “strong sell” rating to a “hold” rating in a research report on Tuesday, May 5th. Weiss Ratings raised Magnum Ice Cream from a “sell (d+)” rating to a “hold (c-)” rating in a report on Thursday, July 30th. Finally, Morgan Stanley reissued an “overweight” rating on shares of Magnum Ice Cream in a research note on Wednesday, August 5th. Two research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold”.

Magnum Ice Cream Stock Up 1.3%

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 stock’s fifty day moving average is $18.37 and its 200-day moving average is $16.59.

Magnum Ice Cream (NYSE:MICC) last announced its 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. As a group, equities research analysts predict that The Magnum Ice Cream Company N.V. will post 1.1 earnings per share for the current year.

Hedge Funds Weigh In On Magnum Ice Cream

Several institutional investors and hedge funds have recently modified their holdings of MICC. Public Employees Retirement System of Ohio grew its stake in shares of Magnum Ice Cream by 2.9% during the first quarter. Public Employees Retirement System of Ohio now owns 41,816 shares of the company’s stock worth $612,000 after buying an additional 1,159 shares during the last quarter. Keybank National Association OH grew its holdings in Magnum Ice Cream by 11.2% during the 1st quarter. Keybank National Association OH now owns 13,761 shares of the company’s stock worth $206,000 after acquiring an additional 1,387 shares during the last quarter. BNP Paribas acquired a new position in Magnum Ice Cream in the 4th quarter valued at approximately $27,000. Credit Industriel ET Commercial increased its position in Magnum Ice Cream by 144.4% in the 1st quarter. Credit Industriel ET Commercial now owns 2,957 shares of the company’s stock valued at $43,000 after acquiring an additional 1,747 shares during the period. Finally, Cullen Frost Bankers Inc. bought a new position in shares of Magnum Ice Cream during the fourth quarter valued at $28,000.

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.