Rhumbline Advisers boosted its position in shares of J C Penney Company Inc (NYSE:JCP) by 5.0% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,013,870 shares of the department store operator’s stock after acquiring an additional 48,571 shares during the quarter. Rhumbline Advisers owned 0.32% of J C Penney worth $901,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of JCP. Harbor Spring Capital LLC bought a new position in J C Penney during the 2nd quarter worth approximately $9,567,000. Invesco Ltd. grew its position in shares of J C Penney by 144.7% during the 2nd quarter. Invesco Ltd. now owns 7,446,322 shares of the department store operator’s stock worth $8,489,000 after buying an additional 4,403,037 shares during the period. Morgan Stanley grew its position in shares of J C Penney by 317.7% during the 2nd quarter. Morgan Stanley now owns 1,903,704 shares of the department store operator’s stock worth $2,171,000 after buying an additional 1,447,974 shares during the period. BlackRock Inc. grew its position in J C Penney by 2.6% in the 2nd quarter. BlackRock Inc. now owns 43,619,119 shares of the department store operator’s stock valued at $49,726,000 after purchasing an additional 1,085,855 shares during the period. Finally, A.R.T. Advisors LLC acquired a new stake in J C Penney in the 2nd quarter valued at $956,000. 62.45% of the stock is currently owned by hedge funds and other institutional investors.
JCP opened at $1.12 on Monday. The company has a market capitalization of $343.26 million, a price-to-earnings ratio of -1.19 and a beta of 1.63. J C Penney Company Inc has a 1 year low of $0.53 and a 1 year high of $1.91. The company has a debt-to-equity ratio of 5.90, a current ratio of 1.51 and a quick ratio of 0.20. The firm’s fifty day moving average price is $1.03 and its two-hundred day moving average price is $0.96.
J C Penney (NYSE:JCP) last released its earnings results on Friday, November 15th. The department store operator reported ($0.30) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.55) by $0.25. J C Penney had a negative return on equity of 24.09% and a negative net margin of 1.92%. The company had revenue of $2.38 billion for the quarter, compared to analysts’ expectations of $2.43 billion. During the same period in the previous year, the business posted ($0.52) EPS. The business’s revenue for the quarter was down 10.1% compared to the same quarter last year. As a group, equities analysts anticipate that J C Penney Company Inc will post -1.05 EPS for the current year.
Separately, B. Riley lifted their price target on shares of J C Penney from $0.80 to $1.00 and gave the company a “neutral” rating in a research report on Monday, November 18th.
In other J C Penney news, Director Lisa A. Payne bought 230,000 shares of the firm’s stock in a transaction that occurred on Friday, September 6th. The stock was bought at an average price of $0.79 per share, for a total transaction of $181,700.00. Following the completion of the acquisition, the director now directly owns 517,890 shares in the company, valued at $409,133.10. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Michelle Wlazlo bought 100,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 28th. The shares were acquired at an average price of $0.59 per share, with a total value of $59,000.00. Following the acquisition, the executive vice president now owns 1,000,100 shares of the company’s stock, valued at $590,059. The disclosure for this purchase can be found here. Insiders purchased a total of 830,000 shares of company stock worth $535,700 over the last 90 days. 1.41% of the stock is currently owned by company insiders.
J C Penney Profile
J. C. Penney Company, Inc, through its subsidiary J. C. Penney Corporation, Inc, sells merchandise through department stores. The company primarily sells family apparel and footwear, accessories, fine and fashion jewelry, beauty products, and home furnishings; and provides services, including styling salon, optical, portrait photography, and custom decorating services.
Read More: Bid-Ask Spread