Masters Capital Management Lowers stake in J C Penney Company Inc (JCP)

J C Penney Company Inc (JCP) : Masters Capital Management reduced its stake in J C Penney Company Inc by 27.06% during the most recent quarter end. The investment management company now holds a total of 1,458,830 shares of J C Penney Company Inc which is valued at $15,390,657 after selling 541,170 shares in J C Penney Company Inc , the firm said in a disclosure report filed with the SEC on Aug 12, 2016.J C Penney Company Inc makes up approximately 3.33% of Masters Capital Management’s portfolio.

Other Hedge Funds, Including , Bayesian Capital Management Lp sold out all of its stake in JCP during the most recent quarter. The investment firm sold 29,500 shares of JCP which is valued $311,225.Mycio Wealth Partners boosted its stake in JCP in the latest quarter, The investment management firm added 58 additional shares and now holds a total of 6,058 shares of J C Penney Company Inc which is valued at $63,912. J C Penney Company Inc makes up approx 0.01% of Mycio Wealth Partners’s portfolio. Private Advisor Group added JCP to its portfolio by purchasing 13,485 company shares during the most recent quarter which is valued at $128,108. J C Penney Company Inc makes up approx 0.01% of Private Advisor Group’s portfolio. Fca Corp Tx sold out all of its stake in JCP during the most recent quarter. The investment firm sold 19,500 shares of JCP which is valued $183,105.Neuberger Berman Group reduced its stake in JCP by selling 778,770 shares or 46.52% in the most recent quarter. The Hedge Fund company now holds 895,220 shares of JCP which is valued at $8,406,116. J C Penney Company Inc makes up approx 0.01% of Neuberger Berman Group’s portfolio.

J C Penney Company Inc closed down -0.08 points or -0.81% at $9.81 with 82,99,156 shares getting traded on Monday. Post opening the session at $9.94, the shares hit an intraday low of $9.77 and an intraday high of $10.02 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.

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 .Shares were Reiterated by Miller Tabak on May 17, 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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