J C Penney (NYSE:JCP) Shares Down 5%

Shares of J C Penney Company Inc (NYSE:JCP) fell 5% on Friday . The company traded as low as $0.55 and last traded at $0.55, 12,006,246 shares traded hands during mid-day trading. An increase of 31% from the average session volume of 9,167,727 shares. The stock had previously closed at $0.58.

A number of brokerages have recently weighed in on JCP. B. Riley began coverage on J C Penney in a research report on Friday, August 16th. They issued a “hold” rating and a $1.00 price target for the company. Zacks Investment Research cut J C Penney from a “buy” rating to a “strong sell” rating in a research report on Wednesday, May 1st. Three equities research analysts have rated the stock with a sell rating and four have assigned a hold rating to the stock. J C Penney currently has an average rating of “Hold” and an average target price of $1.55.

The firm has a market cap of $184.77 million, a PE ratio of -0.59 and a beta of 1.59. The business has a 50-day moving average price of $0.82 and a two-hundred day moving average price of $1.17. The company has a debt-to-equity ratio of 4.86, a current ratio of 1.37 and a quick ratio of 0.21.

J C Penney (NYSE:JCP) last posted its quarterly earnings data on Thursday, August 15th. The department store operator reported ($0.18) EPS for the quarter, topping analysts’ consensus estimates of ($0.32) by $0.14. The firm had revenue of $2.51 billion during the quarter, compared to analysts’ expectations of $2.62 billion. J C Penney had a negative return on equity of 29.24% and a negative net margin of 2.38%. The firm’s quarterly revenue was down 9.2% compared to the same quarter last year. During the same quarter last year, the business posted ($0.38) EPS. Equities analysts expect that J C Penney Company Inc will post -1.22 earnings per share for the current fiscal year.

In related news, Director Ronald W. Tysoe acquired 1,000,000 shares of the company’s stock in a transaction that occurred on Friday, August 16th. The stock was purchased at an average price of $0.59 per share, for a total transaction of $590,000.00. Following the transaction, the director now owns 1,352,128 shares in the company, valued at approximately $797,755.52. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Javier G. Teruel acquired 223,419 shares of the company’s stock in a transaction that occurred on Thursday, June 6th. The shares were bought at an average price of $0.98 per share, with a total value of $218,950.62. Following the transaction, the director now owns 1,045,903 shares in the company, valued at approximately $1,024,984.94. The disclosure for this purchase can be found here. Company insiders own 1.41% of the company’s stock.

A number of institutional investors have recently bought and sold shares of the stock. Two Sigma Advisers LP acquired a new stake in J C Penney in the 4th quarter worth about $101,000. Geode Capital Management LLC boosted its stake in J C Penney by 5.6% in the 4th quarter. Geode Capital Management LLC now owns 3,180,439 shares of the department store operator’s stock worth $3,307,000 after buying an additional 167,783 shares during the last quarter. Spark Investment Management LLC boosted its stake in J C Penney by 83.7% in the 1st quarter. Spark Investment Management LLC now owns 4,070,534 shares of the department store operator’s stock worth $6,065,000 after buying an additional 1,854,534 shares during the last quarter. MetLife Investment Advisors LLC boosted its stake in J C Penney by 103.9% in the 1st quarter. MetLife Investment Advisors LLC now owns 142,487 shares of the department store operator’s stock worth $212,000 after buying an additional 72,608 shares during the last quarter. Finally, SG Americas Securities LLC boosted its stake in J C Penney by 4,841.8% in the 1st quarter. SG Americas Securities LLC now owns 3,885,428 shares of the department store operator’s stock worth $5,789,000 after buying an additional 3,806,804 shares during the last quarter. Hedge funds and other institutional investors own 69.34% of the company’s stock.

About J C Penney (NYSE:JCP)

J. C. Penney Company, Inc, through its subsidiary J. C. Penney Corporation, Inc, sells merchandise through department stores. The company primarily sells family apparel and footwear, accessories, fine and fashion jewelry, beauty products, and home furnishings; and provides services, including styling salon, optical, portrait photography, and custom decorating services.

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