Eqis Capital Management Inc. decreased its stake in shares of J C Penney Company Inc (NYSE:JCP) by 61.8% in the 1st quarter, HoldingsChannel reports. The institutional investor owned 19,600 shares of the department store operator’s stock after selling 31,705 shares during the quarter. Eqis Capital Management Inc.’s holdings in J C Penney were worth $29,000 at the end of the most recent reporting period.
A number of other institutional investors also recently added to or reduced their stakes in JCP. D. E. Shaw & Co. Inc. increased its position in J C Penney by 245.9% during the fourth quarter. D. E. Shaw & Co. Inc. now owns 29,187 shares of the department store operator’s stock worth $30,000 after buying an additional 49,187 shares in the last quarter. Capstone Financial Advisors Inc. grew its position in shares of J C Penney by 100.0% in the third quarter. Capstone Financial Advisors Inc. now owns 20,000 shares of the department store operator’s stock valued at $33,000 after purchasing an additional 10,000 shares during the period. Raymond James Financial Services Advisors Inc. grew its position in shares of J C Penney by 154.0% in the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 38,407 shares of the department store operator’s stock valued at $40,000 after purchasing an additional 23,287 shares during the period. TCG Advisors LP purchased a new stake in shares of J C Penney in the fourth quarter valued at $43,000. Finally, Pearl River Capital LLC purchased a new stake in shares of J C Penney in the fourth quarter valued at $45,000. 71.76% of the stock is owned by institutional investors.
Shares of NYSE:JCP opened at $1.36 on Monday. The firm has a market capitalization of $430.26 million, a PE ratio of -1.45 and a beta of 1.10. The company has a quick ratio of 0.27, a current ratio of 1.52 and a debt-to-equity ratio of 3.35. J C Penney Company Inc has a 52 week low of $0.92 and a 52 week high of $3.20.
J C Penney (NYSE:JCP) last announced its quarterly earnings data on Thursday, February 28th. The department store operator reported $0.18 EPS for the quarter, beating the Zacks’ consensus estimate of $0.15 by $0.03. The business had revenue of $3.79 billion during the quarter, compared to the consensus estimate of $3.79 billion. J C Penney had a negative return on equity of 24.80% and a negative net margin of 2.12%. During the same quarter in the previous year, the business earned $0.57 earnings per share. On average, research analysts anticipate that J C Penney Company Inc will post -0.72 earnings per share for the current fiscal year.
A number of brokerages have recently commented on JCP. B. Riley lifted their price objective on J C Penney from $1.50 to $1.80 and gave the company a “neutral” rating in a research report on Friday, March 1st. Zacks Investment Research raised J C Penney from a “sell” rating to a “hold” rating in a research report on Wednesday, February 13th. Five analysts have rated the stock with a sell rating and eight have given a hold rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $2.78.
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.
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