Wellington Management Group LLP Sells 10,475,407 Shares of The Magnum Ice Cream Company N.V. $MICC

Wellington Management Group LLP lessened its holdings in The Magnum Ice Cream Company N.V. (NYSE:MICC) by 40.1% in the 2nd quarter, Holdings Channel reports. The firm owned 15,628,560 shares of the company’s stock after selling 10,475,407 shares during the quarter. Wellington Management Group LLP’s holdings in Magnum Ice Cream were worth $272,216,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of MICC. FIL Ltd acquired a new stake in shares of Magnum Ice Cream in the fourth quarter worth about $360,762,000. Vanguard Group Inc. bought a new stake in shares of Magnum Ice Cream during the 4th quarter worth about $344,031,000. First Eagle Investment Management LLC acquired a new position in shares of Magnum Ice Cream during the 4th quarter valued at about $260,541,000. Flossbach Von Storch SE acquired a new position in shares of Magnum Ice Cream during the 2nd quarter valued at about $218,507,000. Finally, Norges Bank bought a new position in shares of Magnum Ice Cream in the 4th quarter valued at approximately $173,632,000.

Magnum Ice Cream Price Performance

MICC opened at $20.22 on Monday. The Magnum Ice Cream Company N.V. has a 1-year low of $12.94 and a 1-year high of $20.49. The company has a debt-to-equity ratio of 3.10, a current ratio of 1.01 and a quick ratio of 0.78. The business has a 50 day moving average of $18.67 and a 200-day moving average of $16.65.

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

Analyst Ratings Changes

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