PNC Financial Services Group Inc. Decreases Stock Position in The Magnum Ice Cream Company N.V. $MICC

PNC Financial Services Group Inc. cut its stake in The Magnum Ice Cream Company N.V. (NYSE:MICC) by 42.2% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 50,434 shares of the company’s stock after selling 36,814 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Magnum Ice Cream were worth $754,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of MICC. FIL Ltd purchased a new position in shares of Magnum Ice Cream during the 4th quarter worth about $360,762,000. Vanguard Group Inc. bought a new position in Magnum Ice Cream in the 4th quarter worth about $344,031,000. First Eagle Investment Management LLC bought a new position in Magnum Ice Cream in the 4th quarter worth about $260,541,000. Norges Bank purchased a new position in shares of Magnum Ice Cream during the fourth quarter worth approximately $173,632,000. Finally, Barclays PLC bought a new stake in shares of Magnum Ice Cream during the fourth quarter valued at approximately $156,326,000.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the company. Morgan Stanley reissued an “overweight” rating on shares of Magnum Ice Cream in a research report on Monday, June 29th. Weiss Ratings raised Magnum Ice Cream from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Thursday. Zacks Research upgraded Magnum Ice Cream from a “strong sell” rating to a “hold” rating in a research note on Tuesday, May 5th. Jefferies Financial Group restated a “hold” rating on shares of Magnum Ice Cream in a report on Thursday, June 25th. Finally, BNP Paribas Exane lowered Magnum Ice Cream to a “neutral” rating in a research note on Tuesday, April 21st. Two 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. Based on data from MarketBeat, Magnum Ice Cream has a consensus rating of “Hold”.

Magnum Ice Cream Trading Up 0.1%

MICC opened at $18.63 on Monday. The company has a fifty day moving average price of $17.64. The Magnum Ice Cream Company N.V. has a 1 year low of $12.94 and a 1 year high of $19.93. The company has a quick ratio of 0.78, a current ratio of 1.01 and a debt-to-equity ratio of 3.10.

Magnum Ice Cream (NYSE:MICC) last posted its earnings results on Thursday, July 30th. The company reported $0.41 earnings per share (EPS) for the quarter. The firm had revenue of $2.68 billion for the quarter. On average, research analysts forecast that The Magnum Ice Cream Company N.V. will post 1.1 EPS for the current 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.