California State Teachers Retirement System lessened its holdings in shares of J C Penney Company Inc (NYSE:JCP) by 9.6% during the 3rd quarter, Holdings Channel reports. The fund owned 496,874 shares of the department store operator’s stock after selling 52,853 shares during the quarter. California State Teachers Retirement System’s holdings in J C Penney were worth $1,893,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also modified their holdings of the company. Pinebridge Investments L.P. purchased a new position in shares of J C Penney during the 2nd quarter valued at $190,000. Piedmont Investment Advisors LLC purchased a new position in shares of J C Penney during the 2nd quarter valued at $311,000. Lenox Wealth Management Inc. lifted its stake in shares of J C Penney by 93.5% during the 2nd quarter. Lenox Wealth Management Inc. now owns 71,386 shares of the department store operator’s stock valued at $332,000 after buying an additional 34,486 shares in the last quarter. Keel Point LLC lifted its stake in shares of J C Penney by 100.0% during the 3rd quarter. Keel Point LLC now owns 108,000 shares of the department store operator’s stock valued at $411,000 after buying an additional 54,000 shares in the last quarter. Finally, Municipal Employees Retirement System of Michigan lifted its stake in shares of J C Penney by 58.8% during the 3rd quarter. Municipal Employees Retirement System of Michigan now owns 116,240 shares of the department store operator’s stock valued at $443,000 after buying an additional 43,030 shares in the last quarter. Institutional investors and hedge funds own 72.73% of the company’s stock.

A number of research firms recently weighed in on JCP. Piper Jaffray Companies set a $4.00 target price on shares of J C Penney and gave the company a “hold” rating in a research note on Wednesday, January 10th. B. Riley set a $4.00 target price on shares of J C Penney and gave the company a “hold” rating in a research note on Friday, January 5th. Robert W. Baird set a $4.00 target price on shares of J C Penney and gave the company a “hold” rating in a research note on Thursday, January 4th. Zacks Investment Research cut shares of J C Penney from a “hold” rating to a “sell” rating in a research note on Tuesday, December 26th. Finally, Cowen set a $4.00 target price on shares of J C Penney and gave the company a “hold” rating in a research note on Thursday, November 30th. Three analysts have rated the stock with a sell rating, nineteen have issued a hold rating and one has given a strong buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $4.78.

Shares of J C Penney Company Inc (JCP) opened at $3.93 on Friday. The company has a market cap of $1,220.00, a price-to-earnings ratio of -6.44, a price-to-earnings-growth ratio of 2.51 and a beta of 0.58. J C Penney Company Inc has a one year low of $2.35 and a one year high of $7.42. The company has a quick ratio of 0.16, a current ratio of 1.44 and a debt-to-equity ratio of 3.95.

J C Penney (NYSE:JCP) last announced its quarterly earnings results on Friday, November 10th. The department store operator reported ($0.33) EPS for the quarter, topping the consensus estimate of ($0.43) by $0.10. The business had revenue of $2.81 billion for the quarter, compared to analysts’ expectations of $2.77 billion. J C Penney had a negative net margin of 1.43% and a positive return on equity of 7.60%. The business’s quarterly revenue was down 1.8% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($0.21) EPS. equities analysts forecast that J C Penney Company Inc will post 0.1 earnings per share for the current year.

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J C Penney Profile

J. C. Penney Company, Inc is a holding company. The Company’s business consists of selling merchandise and services to consumers through its department stores and its Website at jcpenney.com. Its department stores and Website generally serve the same type of customers, its Website offers virtually the same mix of merchandise as its store assortment and other categories, and its department stores generally accept returns from sales made in stores and through its Website.

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Institutional Ownership by Quarter for J C Penney (NYSE:JCP)

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