Quantitative Investment Management LLC Purchases Shares of 1,829,300 J C Penney Company Inc (JCP)

Quantitative Investment Management LLC purchased a new position in J C Penney Company Inc (NYSE:JCP) during the fourth quarter, Holdings Channel reports. The fund purchased 1,829,300 shares of the department store operator’s stock, valued at approximately $5,780,000.

Several other institutional investors and hedge funds also recently modified their holdings of JCP. Municipal Employees Retirement System of Michigan boosted its position in shares of J C Penney by 58.8% in the 3rd quarter. Municipal Employees Retirement System of Michigan now owns 116,240 shares of the department store operator’s stock worth $443,000 after purchasing an additional 43,030 shares in the last quarter. SG Americas Securities LLC boosted its position in shares of J C Penney by 52.4% in the 3rd quarter. SG Americas Securities LLC now owns 3,585,977 shares of the department store operator’s stock worth $13,663,000 after purchasing an additional 1,232,229 shares in the last quarter. Keel Point LLC boosted its position in shares of J C Penney by 100.0% in the 3rd quarter. Keel Point LLC now owns 108,000 shares of the department store operator’s stock worth $411,000 after purchasing an additional 54,000 shares in the last quarter. Pinebridge Investments L.P. boosted its position in shares of J C Penney by 802.7% in the 3rd quarter. Pinebridge Investments L.P. now owns 368,458 shares of the department store operator’s stock worth $1,404,000 after purchasing an additional 327,641 shares in the last quarter. Finally, California Public Employees Retirement System lifted its position in J C Penney by 24.7% in the 3rd quarter. California Public Employees Retirement System now owns 1,544,500 shares of the department store operator’s stock valued at $5,885,000 after acquiring an additional 306,267 shares in the last quarter. 78.92% of the stock is currently owned by hedge funds and other institutional investors.

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Several equities analysts recently issued reports on the company. Robert W. Baird set a $4.00 price objective on J C Penney and gave the company a “hold” rating in a research report on Thursday, January 4th. ValuEngine cut J C Penney from a “hold” rating to a “sell” rating in a research report on Thursday, March 1st. Zacks Investment Research cut J C Penney from a “hold” rating to a “sell” rating in a research report on Tuesday, December 26th. B. Riley reaffirmed a “hold” rating and issued a $3.50 price objective on shares of J C Penney in a research report on Monday, November 13th. Finally, Piper Jaffray Companies set a $4.00 price objective on J C Penney and gave the company a “hold” rating in a research report on Wednesday, January 10th. Four investment analysts have rated the stock with a sell rating and eighteen have assigned a hold rating to the company’s stock. J C Penney presently has an average rating of “Hold” and a consensus target price of $4.31.

Shares of J C Penney Company Inc (JCP) opened at $3.25 on Tuesday. The firm has a market cap of $1,018.84, a price-to-earnings ratio of -8.55, a price-to-earnings-growth ratio of 1.25 and a beta of 0.50. The company has a debt-to-equity ratio of 2.89, a quick ratio of 0.28 and a current ratio of 1.46. J C Penney Company Inc has a 12 month low of $2.35 and a 12 month high of $6.39.

J C Penney (NYSE:JCP) last announced its earnings results on Friday, March 2nd. The department store operator reported $0.57 earnings per share for the quarter, beating analysts’ consensus estimates of $0.47 by $0.10. The business had revenue of $4.03 billion during the quarter, compared to analyst estimates of $4.04 billion. J C Penney had a negative net margin of 0.93% and a positive return on equity of 5.65%. The company’s quarterly revenue was up 1.8% compared to the same quarter last year. During the same period in the previous year, the business earned $0.64 EPS. equities research analysts predict that J C Penney Company Inc will post 0.16 earnings per share for the current year.

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J C Penney Profile

J. C. Penney Company, Inc is a holding company. The Company’s business consists of selling merchandise and services to consumers through its department stores and its Website at jcpenney.com. Its department stores and Website generally serve the same type of customers, its Website offers virtually the same mix of merchandise as its store assortment and other categories, and its department stores generally accept returns from sales made in stores and through its Website.

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

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