SCHEDULE 13G
Amendment No. 6
Fieldcrest Cannon Incorporated
common stock
Cusip # 316549104
Filing Fee: No
Cusip # 316549104
Item 1: Reporting Person - FMR Corp. - (Tax ID: 04-2507163)
Item 4: Commonwealth of Massachusetts
Item 5: 15,956
Item 6: None
Item 7: 1,193,716
Item 8: None
Item 9: 1,193,716
Item 11: 12.87%
Item 12: HC
Cusip # 316549104
Item 1: Reporting Person - Edward C. Johnson 3d - (Tax ID: ###-##-####)
Item 4: United States of America
Item 5: None
Item 6: None
Item 7: 1,193,716
Item 8: None
Item 9: 1,193,716
Item 11: 12.87%
Item 12: IN
SCHEDULE 13G - TO BE INCLUDED IN STATEMENTS
FILED PURSUANT TO RULE 13d-1(b) or 13d-2(b)
Item 1(a). Name of Issuer:
Fieldcrest Cannon Incorporated
Item 1(b). Name of Issuer's Principal Executive Offices:
326 East Stadium Drive
Eden, NC 27288
Item 2(a). Name of Person Filing:
FMR Corp.
Item 2(b). Address or Principal Business Office or, if None, Residence:
82 Devonshire Street, Boston, Massachusetts 02109
Item 2(c). Citizenship:
Not applicable
Item 2(d). Title of Class of Securities:
Common Stock
Item 2(e). CUSIP Number:
316549104
Item 3. This statement is filed pursuant to Rule 13d-1(b) or 13d-2(b) and the
person filing, FMR Corp., is a parent holding company in accordance
with Section 240.13d-1(b)(ii)(G). (Note: See Item 7).
Item 4. Ownership
(a) Amount Beneficially Owned:
1,193,716
(b) Percent of Class:
12.87%
(c) Number of shares as to which such person has:
(i) sole power to vote or to direct the vote:
15,956
(ii) shared power to vote or to direct the vote:
None
(iii) sole power to dispose or to direct the disposition of:
1,193,716
(iv) shared power to dispose or to direct the disposition
of: None
Item 5. Ownership of Five Percent or Less of a Class.
Not applicable.
Item 6. Ownership of More than Five Percent on Behalf of Another Person.
Various persons have the right to receive or the power to
direct the receipt of dividends from, or the proceeds from
the sale of, the common stock of Fieldcrest Cannon
Incorporated. The interest of one person, Fidelity
Convertible Securities Fund, an investment company
registered under the Investment Company Act of 1940, in the
common stock of Fieldcrest Cannon Incorporated, amounted to
564,102 shares or 6.08% of the total outstanding common
stock at March 31, 1994. The number of shares of common
stock of Fieldcrest Cannon Incorporated owned by the
investment company at March 31, 1994 included 564,102 shares
of common stock resulting from the assumed conversion of
330,000 shares of the $3.00 Convertible Preferred (1.7094
shares of common stock for each share of the $3.00
Convertible Preferred).
Item 7. Identification and Classification of the Subsidiary Which Acquired
the Security Being Reported on By the Parent Holding Company.
See attached Exhibit(s) A and B.
Item 8. Identification and Classification of Members of the Group.
Not applicable, see attached Exhibit A.
Item 9. Notice of Dissolution of Group.
Not applicable.
Item 10. Certification.
By signing below I certify that, to the best of my knowledge and
belief, the securities referred to above were acquired in the
ordinary course of business and were not acquired for the purpose
of and do not have the effect of changing or influencing the
control of the issuer of such securities and were not acquired in
connection with or as a participant in any transaction having such
purpose or effect.
Signature
After reasonable inquiry and to the best of my knowledge and
belief, I certify that the information set forth in this statement
is true, complete and correct.
April 8, 1994
Date
/s/Arthur S. Loring
Signature
Arthur S. Loring, Vice President
Name/Title
SCHEDULE 13G - TO BE INCLUDED IN STATEMENTS
FILED PURSUANT TO RULE 13d-1(b) or 13d-2(b)
Pursuant to the instructions in Item 7 of Schedule 13G, Fidelity
Management & Research Company ("Fidelity"), 82 Devonshire Street, Boston,
Massachusetts 02109, a wholly-owned subsidiary of FMR Corp. and an
investment adviser registered under Section 203 of the Investment Advisers
Act of 1940, is the beneficial owner of 1,177,760 shares or 12.70% of the
common stock outstanding of Fieldcrest Cannon Incorporated ("the Company")
as a result of acting as investment adviser to several investment companies
registered under Section 8 of the Investment Company Act of 1940. The
number of shares of common stock of Fieldcrest Cannon Incorporated owned by
the investment companies at March 31, 1994 included 683,760 shares of
common stock resulting from the assumed conversion of 400,000 shares of the
$3.00 Convertible Preferred Stock (1.7094 shares of common stock for each
share of the $3.00 Convertible Preferred Stock).
The ownership of one investment company, Fidelity Convertible
Securities Fund, amounted to 564,102 shares or 6.08% of the common stock
outstanding. The number of shares of common stock of Fieldcrest Cannon
Incorporated owned by the investment company at March 31, 1994 included
564,102 shares of common stock resulting from the assumed conversion of
330,000 shares of the $3.00 Convertible Preferred Stock (1.7094 shares of
common stock for each share of the $3.00 Convertible Preferred Stock).
Fidelity Convertible Securities Fund has its principal business office at
82 Devonshire Street, Boston, Massachusetts 02109.
Edward C. Johnson 3d, FMR Corp., through its control of Fidelity, and
the Funds each has sole power to dispose of the 1,177,760 shares owned by
the Funds.
Neither FMR Corp. nor Edward C. Johnson 3d, Chairman of FMR Corp., has
the sole power to vote or direct the voting of the shares owned directly by
the Fidelity Funds, which power resides with the Funds' Boards of Trustees.
Fidelity carries out the voting of the shares under written guidelines
established by the Funds' Boards of Trustees.
Fidelity Management Trust Company, 82 Devonshire Street, Boston,
Massachusetts 02109, a wholly-owned subsidiary of FMR Corp. and a bank as
defined in Section 3(a)(6) of the Securities Exchange Act of 1934, is the
beneficial owner of 15,956 shares or 0.17% of the common stock outstanding
of the company as a result of its serving as investment manager of the
institutional account(s). The number of shares of common stock of
Fieldcrest Cannon Incorporated owned by the institutional account(s) at
March 31, 1994 included 10,256 shares of common stock resulting from the
assumed conversion of 6,000 shares of the Convertible Preferred Stock
described above.
FMR Corp., through its control of Fidelity Management Trust Company,
has sole voting and dispositive power over 15,956 shares of common stock
owned by the institutional account(s) as reported above.
Edward C. Johnson 3d owns 34.0% of the outstanding voting common stock
of FMR Corp. Mr. Johnson 3d is Chairman of FMR Corp. Various Johnson
family members and trusts for the benefit of Johnson family members own FMR
Corp. voting common stock. These Johnson family members, through their
ownership of voting common stock, form a controlling group with respect to
FMR Corp.
SCHEDULE 13G - TO BE INCLUDED IN STATEMENTS
FILED PURSUANT TO RULE 13d-1(b) or 13d-2(b)
RULE 13d-1(e) AGREEMENT
The undersigned persons, on April 8, 1994, agree and consent to the
joint filing on their behalf of this Schedule 13G in connection with their
beneficial ownership of the common stock of Fieldcrest Cannon Incorporated
at March 31, 1994.
FMR Corp.
By /s/Arthur S. Loring
Arthur S. Loring
Vice President - Legal
Edward C. Johnson 3d
By /s/Arthur S. Loring
Arthur S. Loring
Under Power of Attorney
dated 5/17/89
On File with Schedule 13G
for
Airborne Freight Corp.
9/10/91
Fidelity Management & Research Company
By /s/Arthur S. Loring
Arthur S. Loring
Sr. V.P. and General
Counsel
Fidelity Convertible Securities Fund
By /s/Arthur S. Loring
Arthur S. Loring
Secretary
