J C Penney Company Inc (JCP) : Orca Investment Management added new position in J C Penney Company Inc during the most recent quarter end. The investment management firm now holds 317,157 shares of J C Penney Company Inc which is valued at $2,981,276 , the company said in a statement filed on Jul 25, 2016 with the SEC.J C Penney Company Inc makes up approximately 2.79% of Orca Investment Management’s portfolio.
Other Hedge Funds, Including , Msi Financial Services Inc reduced its stake in JCP by selling 2,500 shares or 16.09% in the most recent quarter. The Hedge Fund company now holds 13,040 shares of JCP which is valued at $122,576. Mizuho Securities Usa sold out all of its stake in JCP during the most recent quarter. The investment firm sold 112,300 shares of JCP which is valued $1,027,545.Next Financial Group Inc boosted its stake in JCP in the latest quarter, The investment management firm added 3,500 additional shares and now holds a total of 30,510 shares of J C Penney Company Inc which is valued at $259,030. J C Penney Company Inc makes up approx 0.08% of Next Financial Group Inc’s portfolio.
J C Penney Company Inc opened for trading at $9.47 and hit $9.72 on the upside on Friday, eventually ending the session at $9.66, with a gain of 1.79% or 0.17 points. The heightened volatility saw the trading volume jump to 99,42,120 shares. Company has a market cap of $2,970 M.
On the company’s financial health, J C Penney Company Inc reported $-0.22 EPS for the quarter, beating the analyst consensus estimate by $ 0.15 according to the earnings call on May 13, 2016. Analyst had a consensus of $-0.37. The company had revenue of $2811.00 million for the quarter, compared to analysts expectations of $2923.46 million. The company’s revenue was down -1.6 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $-0.55 EPS.
Many Wall Street Analysts have commented on J C Penney Company Inc. 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 .Company shares were Upgraded by Robert W. Baird on May 16, 2016 to ” Outperform”, Firm has raised the Price Target to $ 12 from a previous price target of $11 .
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.