November 29, 2016 - By Vivian Park · 0 Comments
J C Penney Co Inc (NYSE:JCP) institutional sentiment decreased to 1.07 in Q2 2016. Its down -0.14, from 1.21 in 2016Q1. The ratio fall, as 154 hedge funds increased and opened new positions, while 127 reduced and sold equity positions in J C Penney Co Inc. The hedge funds in our partner’s database now possess: 266.33 million shares, up from 246.88 million shares in 2016Q1. Also, the number of hedge funds holding J C Penney Co Inc in their top 10 positions was flat from 2 to 2 for the same number . Sold All: 66 Reduced: 61 Increased: 110 New Position: 44.
J. C. Penney Company, Inc. is a holding company. The company has a market cap of $2.79 billion. The Company’s operating subsidiary is J. It currently has negative earnings. C.
About 22.54M shares traded hands or 35.86% up from the average. J C Penney Company Inc (NYSE:JCP) has declined 3.06% since April 26, 2016 and is downtrending. It has underperformed by 8.32% the S&P500.
Analysts await J C Penney Company Inc (NYSE:JCP) to report earnings on February, 23. They expect $0.65 earnings per share, up 66.67% or $0.26 from last year’s $0.39 per share. JCP’s profit will be $190.29M for 3.67 P/E if the $0.65 EPS becomes a reality. After $-0.21 actual earnings per share reported by J C Penney Company Inc for the previous quarter, Wall Street now forecasts -409.52% EPS growth.
According to Zacks Investment Research, “JCPenney is one of America’s leading retailers, operating department stores throughout the United States and Puerto Rico, as well as one of the largest apparel and home furnishing sites on the Internet, jcp.com, and the nation’s largest general merchandise catalog business. Through these integrated channels, JCPenney offers a wide array of national, private and exclusive brands.”
Vertex One Asset Management Inc. holds 3.52% of its portfolio in J C Penney Company Inc for 2.45 million shares. Orca Investment Management Llc owns 317,157 shares or 2.75% of their US portfolio. Moreover, Hodges Capital Management Inc. has 1.8% invested in the company for 4.16 million shares. The Illinois-based Forester Capital Management Ltd has invested 1.49% in the stock. Waratah Capital Advisors Ltd., a Ontario – Canada-based fund reported 750,167 shares.#img1#
Ratings analysis reveals 38% of J.C. Penney Company’s analysts are positive. Out of 21 Wall Street analysts rating J.C. Penney Company, 8 give it “Buy”, 4 “Sell” rating, while 9 recommend “Hold”. The lowest target is $5 while the high is $14. The stock’s average target of $9.47 is -0.63% below today’s ($9.53) share price. JCP was included in 30 notes of analysts from July 22, 2015. Cowen & Co initiated it with “Market Perform” rating and $8 target price in Monday, February 22 report. The rating was maintained by UBS with “Sell” on Monday, May 16. The rating was maintained by Telsey Advisory Group on Monday, August 15 with “Outperform”. The stock has “Hold” rating given by Sterne Agee CRT on Sunday, August 16. On Monday, May 16 the stock rating was maintained by Citigroup with “Neutral”. Morgan Stanley maintained the stock with “Underweight” rating in Thursday, August 18 report. JP Morgan maintained J C Penney Company Inc (NYSE:JCP) rating on Friday, May 6. JP Morgan has “Neutral” rating and $7 price target. Morgan Stanley maintained J C Penney Company Inc (NYSE:JCP) rating on Monday, May 16. Morgan Stanley has “Underweight” rating and $7.50 price target. The firm earned “Buy” rating on Friday, March 11 by Deutsche Bank. Credit Suisse maintained J C Penney Company Inc (NYSE:JCP) on Monday, September 21 with “Underperform” rating.
J. C. Penney Company, Inc. (JCPenney), incorporated on January 22, 2002, is a holding company. The Company’s operating subsidiary is J. C. Penney Corporation, Inc. (JCP). The Company’s business consists of selling merchandise and services to clients through its department stores and its Website at jcpenney.com, which utilizes optimized applications for desktop, mobile and tablet devices. The Company’s department stores and Website serves the same type of customers, its Website offers virtually the same mix of merchandise as its in store assortment along with other extended categories that are not offered in store, and its department stores accept returns from sales made in stores and through its Website. The Company’s online customer purchases by direct shipment to the customer from its distribution facilities and stores or from its suppliers’ warehouses and by in store customer pick up. The Firm sells family apparel and footwear, accessories, fine and fashion jewelry, beauty products through Sephora inside JCPenney and home furnishings.
More recent J C Penney Company Inc (NYSE:JCP) news were published by: Fool.com which released: “JC Penney Company, Inc. Earnings: Sales Growth Stalls Again” on November 11, 2016. Also Investorplace.com published the news titled: “3 Big Stock Charts: Shopify Inc (SHOP), J C Penney Company Inc (JCP) and SPDR …” on November 22, 2016. Investorplace.com‘s news article titled: “J C Penney Company Inc (JCP) Earnings Will Surprise You” with publication date: November 10, 2016 was also an interesting one.
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By Vivian Park