RNC Capital Management LLC Grows Position in Vodafone Group PLC $VOD

RNC Capital Management LLC boosted its stake in shares of Vodafone Group PLC (NASDAQ:VOD) by 10.7% during the 2nd quarter, Holdings Channel.com reports. The firm owned 49,670 shares of the cell phone carrier’s stock after buying an additional 4,815 shares during the quarter. RNC Capital Management LLC’s holdings in Vodafone Group were worth $529,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Connor Clark & Lunn Investment Management Ltd. purchased a new position in Vodafone Group during the first quarter valued at $1,117,000. Modern Wealth Management LLC bought a new stake in Vodafone Group during the first quarter valued at about $285,000. Sequoia Financial Advisors LLC bought a new stake in Vodafone Group during the first quarter valued at about $125,000. Walleye Capital LLC raised its holdings in Vodafone Group by 516.1% during the first quarter. Walleye Capital LLC now owns 182,003 shares of the cell phone carrier’s stock valued at $1,705,000 after acquiring an additional 152,462 shares during the period. Finally, Summit Securities Group LLC raised its holdings in Vodafone Group by 4,239.6% during the first quarter. Summit Securities Group LLC now owns 47,736 shares of the cell phone carrier’s stock valued at $447,000 after acquiring an additional 46,636 shares during the period. 7.84% of the stock is currently owned by hedge funds and other institutional investors.

Vodafone Group Stock Up 2.0%

Shares of NASDAQ:VOD opened at $11.74 on Thursday. Vodafone Group PLC has a 1 year low of $8.00 and a 1 year high of $12.06. The business has a 50 day simple moving average of $11.61 and a two-hundred day simple moving average of $10.66. The firm has a market capitalization of $28.16 billion, a PE ratio of 10.30, a price-to-earnings-growth ratio of 0.26 and a beta of 0.62. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.26 and a quick ratio of 1.23.

Wall Street Analysts Forecast Growth

VOD has been the topic of several research reports. BNP Paribas Exane initiated coverage on Vodafone Group in a report on Tuesday. They issued an “underperform” rating and a $8.00 target price on the stock. Morgan Stanley initiated coverage on Vodafone Group in a report on Wednesday, July 2nd. They issued an “equal weight” rating on the stock. Zacks Research raised Vodafone Group to a “hold” rating in a report on Tuesday, August 12th. Weiss Ratings reissued a “sell (d+)” rating on shares of Vodafone Group in a research note on Wednesday, October 8th. Finally, The Goldman Sachs Group cut Vodafone Group from a “neutral” rating to a “sell” rating and set a $136.00 price objective on the stock. in a research note on Thursday, July 31st. One analyst has rated the stock with a Buy rating, four have assigned a Hold rating and four have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Reduce” and a consensus target price of $72.00.

Vodafone Group Company Profile

Vodafone Group Public Limited Company provides telecommunication services in Europe and internationally. It offers mobile connectivity services comprising end-to-end services for mobile voice and data, messaging, device management, BYOx, and telecoms management, as well as professional and consulting services; and fixed line connectivity, such as fixed voice and data, broadband, software-defined networks, managed WAN, LAN, ethernet, and satellite; and financial services, as well as business and merchant services.