Vodafone Group PLC (VOD) Cut to “Sell” at Zacks Investment Research

Zacks Investment Research downgraded shares of Vodafone Group PLC (NASDAQ:VOD) from a hold rating to a sell rating in a research report report published on Tuesday.

According to Zacks, “Vodafone AirTouch Plc is the world’s largest international mobile communications firm. Their primary operation is in digital and analog cellular telephone networks of Vodafone. “

Other analysts also recently issued reports about the company. J P Morgan Chase & Co restated a buy rating on shares of Vodafone Group PLC in a report on Monday, July 31st. UBS AG restated a buy rating on shares of Vodafone Group PLC in a report on Friday, October 27th. BidaskClub downgraded shares of Vodafone Group PLC from a strong-buy rating to a buy rating in a report on Friday, August 18th. Finally, Bank of America Corporation upgraded Vodafone Group PLC from a neutral rating to a buy rating and set a $32.56 target price on the stock in a research report on Wednesday, August 9th. One investment analyst has rated the stock with a sell rating, five have given a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. Vodafone Group PLC has a consensus rating of Buy and a consensus price target of $32.14.

Vodafone Group PLC (NASDAQ:VOD) traded up $0.32 during midday trading on Tuesday, reaching $30.96. 6,858,563 shares of the company’s stock were exchanged, compared to its average volume of 3,929,325. Vodafone Group PLC has a 12 month low of $24.17 and a 12 month high of $31.03. The company has a current ratio of 1.01, a quick ratio of 0.99 and a debt-to-equity ratio of 0.47.

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The firm also recently declared a semiannual dividend, which will be paid on Friday, February 2nd. Stockholders of record on Friday, November 24th will be issued a dividend of $0.5642 per share. This represents a dividend yield of 3.68%. The ex-dividend date is Wednesday, November 22nd. Vodafone Group PLC’s dividend payout ratio is presently -443.24%.

Several hedge funds and other institutional investors have recently modified their holdings of VOD. Geode Capital Management LLC increased its position in Vodafone Group PLC by 8.9% during the first quarter. Geode Capital Management LLC now owns 286,835 shares of the cell phone carrier’s stock worth $7,581,000 after buying an additional 23,448 shares during the period. BlackRock Inc. boosted its stake in shares of Vodafone Group PLC by 8,534.1% in the first quarter. BlackRock Inc. now owns 4,340,342 shares of the cell phone carrier’s stock valued at $114,716,000 after buying an additional 4,290,072 shares in the last quarter. Fox Run Management L.L.C. purchased a new stake in Vodafone Group PLC during the second quarter worth $282,000. Bank of Montreal Can boosted its position in Vodafone Group PLC by 26.8% during the second quarter. Bank of Montreal Can now owns 428,247 shares of the cell phone carrier’s stock worth $12,304,000 after purchasing an additional 90,439 shares in the last quarter. Finally, Creative Planning boosted its position in Vodafone Group PLC by 1.9% during the second quarter. Creative Planning now owns 50,769 shares of the cell phone carrier’s stock worth $1,459,000 after purchasing an additional 947 shares in the last quarter. 10.00% of the stock is currently owned by institutional investors and hedge funds.

About Vodafone Group PLC

Vodafone Group Plc (Vodafone) is a telecommunications company. The Company’s business is organized into two geographic regions: Europe, and Africa, Middle East and Asia Pacific (AMAP). Its segments include Europe and AMAP. Its Europe segment includes geographic regions, such as Germany, Italy, the United Kingdom, Spain and Other Europe.

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