Swiss National Bank Boosts Position in J C Penney Company Inc (NYSE:JCP)

Swiss National Bank lifted its holdings in shares of J C Penney Company Inc (NYSE:JCP) by 9.0% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 588,100 shares of the department store operator’s stock after purchasing an additional 48,800 shares during the quarter. Swiss National Bank owned 0.19% of J C Penney worth $670,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. SG Americas Securities LLC lifted its position in J C Penney by 10.7% in the second quarter. SG Americas Securities LLC now owns 4,301,068 shares of the department store operator’s stock valued at $4,903,000 after purchasing an additional 415,640 shares during the last quarter. Spark Investment Management LLC lifted its holdings in J C Penney by 83.7% in the first quarter. Spark Investment Management LLC now owns 4,070,534 shares of the department store operator’s stock valued at $6,065,000 after acquiring an additional 1,854,534 shares during the period. IndexIQ Advisors LLC bought a new position in shares of J C Penney in the first quarter worth about $1,601,000. Rhumbline Advisers raised its stake in shares of J C Penney by 1.2% in the first quarter. Rhumbline Advisers now owns 935,127 shares of the department store operator’s stock worth $1,393,000 after buying an additional 10,897 shares during the period. Finally, Commerzbank Aktiengesellschaft FI raised its stake in shares of J C Penney by 2.0% in the second quarter. Commerzbank Aktiengesellschaft FI now owns 739,516 shares of the department store operator’s stock worth $843,000 after buying an additional 14,690 shares during the period. 68.37% of the stock is owned by institutional investors.

In related news, EVP Michelle Wlazlo purchased 100,000 shares of J C Penney stock in a transaction dated Wednesday, August 28th. The stock was purchased at an average cost of $0.59 per share, with a total value of $59,000.00. Following the transaction, the executive vice president now owns 1,000,100 shares in the company, valued at approximately $590,059. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Ronald W. Tysoe bought 1,000,000 shares of the company’s stock in a transaction that occurred on Friday, August 16th. The shares were acquired at an average price of $0.59 per share, for a total transaction of $590,000.00. Following the completion of the purchase, the director now owns 1,352,128 shares in the company, valued at $797,755.52. The disclosure for this purchase can be found here. Over the last ninety days, insiders have acquired 1,830,000 shares of company stock valued at $1,125,700. 1.41% of the stock is currently owned by corporate insiders.

NYSE JCP traded down $0.12 during trading on Friday, hitting $0.99. 5,716,061 shares of the stock traded hands, compared to its average volume of 12,092,605. The company has a market capitalization of $321.02 million, a P/E ratio of -1.06 and a beta of 1.53. The firm has a 50-day simple moving average of $0.70 and a 200-day simple moving average of $1.12. The company has a quick ratio of 0.21, a current ratio of 1.37 and a debt-to-equity ratio of 4.86. J C Penney Company Inc has a 12-month low of $0.53 and a 12-month high of $2.05.

J C Penney (NYSE:JCP) last announced its earnings results on Thursday, August 15th. The department store operator reported ($0.18) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.32) by $0.14. J C Penney had a negative return on equity of 29.24% and a negative net margin of 2.38%. The firm had revenue of $2.51 billion during the quarter, compared to analysts’ expectations of $2.62 billion. During the same quarter in the previous year, the business earned ($0.38) EPS. The company’s quarterly revenue was down 9.2% on a year-over-year basis. As a group, research analysts predict that J C Penney Company Inc will post -1.22 EPS for the current fiscal year.

Separately, B. Riley began coverage on J C Penney in a research note on Friday, August 16th. They issued a “hold” rating and a $1.00 price objective on the stock. Three research analysts have rated the stock with a sell rating and four have given a hold rating to the company. J C Penney has an average rating of “Hold” and an average price target of $1.55.

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.

Featured Article: How to Invest in the Dividend Aristocrat Index

Institutional Ownership by Quarter for J C Penney (NYSE:JCP)

Receive News & Ratings for J C Penney Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for J C Penney and related companies with MarketBeat.com's FREE daily email newsletter.