J.C. Penney Co. (JCP) Stake Boosted by Dimensional Fund Advisors LP
Dimensional Fund Advisors LP boosted its position in J.C. Penney Co. (NYSE:JCP) by 0.6% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,454,476 shares of the department store operator’s stock after buying an additional 64,457 shares during the period. Dimensional Fund Advisors LP owned approximately 3.40% of J.C. Penney worth $92,836,000 at the end of the most recent reporting period.
Several other institutional investors also recently modified their holdings of the company. BlackRock Institutional Trust Company N.A. raised its position in shares of J.C. Penney by 2.4% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 9,507,015 shares of the department store operator’s stock worth $105,148,000 after buying an additional 222,039 shares in the last quarter. Chartwell Investment Partners LLC raised its position in shares of J.C. Penney by 48.6% in the second quarter. Chartwell Investment Partners LLC now owns 7,433,289 shares of the department store operator’s stock worth $66,008,000 after buying an additional 2,429,635 shares in the last quarter. Hennessy Advisors Inc. raised its position in shares of J.C. Penney by 3.0% in the second quarter. Hennessy Advisors Inc. now owns 4,109,700 shares of the department store operator’s stock worth $36,494,000 after buying an additional 117,900 shares in the last quarter. HBK Investments L P raised its position in shares of J.C. Penney by 135.5% in the first quarter. HBK Investments L P now owns 3,298,800 shares of the department store operator’s stock worth $36,485,000 after buying an additional 1,898,100 shares in the last quarter. Finally, Norges Bank bought a new position in shares of J.C. Penney during the fourth quarter worth $15,122,000. Hedge funds and other institutional investors own 88.62% of the company’s stock.
J.C. Penney Co. (NYSE:JCP) traded down 1.20% during mid-day trading on Thursday, reaching $9.88. 3,937,418 shares of the company were exchanged. J.C. Penney Co. has a 1-year low of $6.00 and a 1-year high of $11.99. The stock has a 50-day moving average of $9.89 and a 200 day moving average of $9.42. The firm’s market capitalization is $3.04 billion.
J.C. Penney (NYSE:JCP) last issued its quarterly earnings results on Friday, August 12th. The department store operator reported ($0.05) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.15) by $0.10. The company had revenue of $2.92 billion for the quarter, compared to analyst estimates of $2.93 billion. J.C. Penney had a negative net margin of 3.11% and a negative return on equity of 10.18%. The business’s revenue for the quarter was up 1.5% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.41) earnings per share. Equities research analysts forecast that J.C. Penney Co. will post $0.16 earnings per share for the current year.
A number of equities analysts recently weighed in on JCP shares. Jefferies Group restated a “hold” rating and set a $10.00 target price on shares of J.C. Penney in a research report on Thursday, August 18th. Vetr downgraded shares of J.C. Penney from a “buy” rating to a “hold” rating and set a $10.02 price target on the stock. in a research note on Monday, August 15th. B. Riley reaffirmed a “buy” rating and set a $16.00 price target on shares of J.C. Penney in a research note on Saturday, August 20th. Cowen and Company reaffirmed a “market perform” rating and set a $10.00 price target on shares of J.C. Penney in a research note on Monday, August 15th. Finally, Robert W. Baird reaffirmed an “outperform” rating and set a $13.00 price target on shares of J.C. Penney in a research note on Sunday, August 21st. Two equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and thirteen have assigned a buy rating to the stock. J.C. Penney has an average rating of “Hold” and a consensus price target of $11.52.
In other J.C. Penney news, Chairman Marvin R. Ellison purchased 50,000 shares of the business’s stock in a transaction on Thursday, August 25th. The shares were bought at an average cost of $9.92 per share, for a total transaction of $496,000.00. Following the completion of the purchase, the chairman now directly owns 2,557,317 shares of the company’s stock, valued at $25,368,584.64. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 1.28% of the company’s stock.
J.C. Penney Company Profile
J. C. Penney Company, Inc 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 its Website at jcpenney.com, which utilizes optimized applications for desktop, mobile and tablet devices.
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