Pdt Partners buys $49,490,957 stake in J C Penney Company Inc (JCP)

J C Penney Company Inc (JCP) : Pdt Partners scooped up 2,201,349 additional shares in J C Penney Company Inc during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Aug 15, 2016. The investment management firm now holds a total of 4,691,086 shares of J C Penney Company Inc which is valued at $49,490,957.J C Penney Company Inc makes up approximately 2.88% of Pdt Partners’s portfolio.

Other Hedge Funds, Including , Tudor Investment Corp Et Al sold out all of its stake in JCP during the most recent quarter. The investment firm sold 139,671 shares of JCP which is valued $1,473,529.Thrivent Financial For Lutherans boosted its stake in JCP in the latest quarter, The investment management firm added 4,730 additional shares and now holds a total of 44,980 shares of J C Penney Company Inc which is valued at $474,539. Lebenthal Asset Management added JCP to its portfolio by purchasing 579,620 company shares during the most recent quarter which is valued at $6,114,991. J C Penney Company Inc makes up approx 0.76% of Lebenthal Asset Management’s portfolio.Utah Retirement Systems boosted its stake in JCP in the latest quarter, The investment management firm added 1,400 additional shares and now holds a total of 56,105 shares of J C Penney Company Inc which is valued at $512,239. J C Penney Company Inc makes up approx 0.01% of Utah Retirement Systems’s portfolio.Quadrant Capital Group boosted its stake in JCP in the latest quarter, The investment management firm added 144 additional shares and now holds a total of 2,535 shares of J C Penney Company Inc which is valued at $24,488. J C Penney Company Inc makes up approx 0.02% of Quadrant Capital Group’s portfolio.

J C Penney Company Inc opened for trading at $9.48 and hit $9.52 on the upside on Thursday, eventually ending the session at $9.44, with a gain of 0.11% or 0.01 points. The heightened volatility saw the trading volume jump to 1,28,95,843 shares. Company has a market cap of $2,905 M.

On the company’s financial health, J C Penney Company Inc reported $-0.05 EPS for the quarter, beating the analyst consensus estimate by $ 0.09 according to the earnings call on Aug 12, 2016. Analyst had a consensus of $-0.14. The company had revenue of $2918.00 million for the quarter, compared to analysts expectations of $2930.10 million. The company’s revenue was up 1.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $-0.41 EPS.

Many Wall Street Analysts have commented on J C Penney Company Inc. Company shares were Reiterated by Telsey Advisory Group on Aug 15, 2016 to “Outperform”, Firm has raised the Price Target to $ 13 from a previous price target of $12 .Shares were Reiterated by Miller Tabak on May 23, 2016 to “Buy” and Lowered the Price Target to $ 13 from a previous price target of $17 .

J. C. Penney Company Inc. (JCPenney) 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 consumers through its department stores and Website at jcpenney.com which utilizes applications for desktop mobile and tablet devices. 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 Company sells family apparel and footwear accessories fine and fashion jewelry beauty products through Sephora inside JCPenney and home furnishings. The Company’s department stores provide its customers with services such as styling salon optical portrait photography and custom decorating.

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