J C Penney Company Inc (JCP) : Tcw Group Inc reduced its stake in J C Penney Company Inc by 1.69% during the most recent quarter end. The investment management company now holds a total of 15,583,886 shares of J C Penney Company Inc which is valued at $148,358,595 after selling 268,022 shares in J C Penney Company Inc , the firm said in a disclosure report filed with the SEC on Nov 14, 2016.J C Penney Company Inc makes up approximately 1.14% of Tcw Group Inc’s portfolio.
Other Hedge Funds, Including , Lebenthal Asset Management reduced its stake in JCP by selling 15,984 shares or 2.76% in the most recent quarter. The Hedge Fund company now holds 563,636 shares of JCP which is valued at $5,365,815. J C Penney Company Inc makes up approx 0.69% of Lebenthal Asset Management’s portfolio.Texas Permanent School Fund reduced its stake in JCP by selling 649 shares or 0.28% in the most recent quarter. The Hedge Fund company now holds 234,426 shares of JCP which is valued at $1,987,932. J C Penney Company Inc makes up approx 0.03% of Texas Permanent School Fund’s portfolio.
J C Penney Company Inc opened for trading at $9.39 and hit $9.5025 on the upside on Monday, eventually ending the session at $9.47, with a gain of 0.42% or 0.04 points. The heightened volatility saw the trading volume jump to 1,33,67,580 shares. Company has a market cap of $2,915 M.
On the company’s financial health, J C Penney Company Inc reported $-0.21 EPS for the quarter, missing the analyst consensus estimate by $ -0.01 based on the information available during the earnings call on Nov 11, 2016. Analyst had a consensus of $-0.20. The company had revenue of $2857.00 million for the quarter, compared to analysts expectations of $2949.78 million. The company’s revenue was down -1.4 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $-0.45 EPS.
Many Wall Street Analysts have commented on J C Penney Company Inc. J C Penney Company Inc was Initiated by Guggenheim to “Neutral” on Sep 30, 2016.
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.