Wedge Capital Management L L P NC raised its stake in shares of J C Penney Company Inc (NYSE:JCP) by 28.6% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 108,247 shares of the department store operator’s stock after buying an additional 24,099 shares during the period. Wedge Capital Management L L P NC’s holdings in J C Penney were worth $503,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Geode Capital Management LLC boosted its stake in shares of J C Penney by 4.8% in the first quarter. Geode Capital Management LLC now owns 2,324,781 shares of the department store operator’s stock valued at $14,320,000 after buying an additional 106,121 shares during the period. DUPONT CAPITAL MANAGEMENT Corp purchased a new stake in shares of J C Penney during the first quarter valued at $234,000. LMR Partners LLP boosted its stake in shares of J C Penney by 109.7% in the first quarter. LMR Partners LLP now owns 82,172 shares of the department store operator’s stock valued at $506,000 after buying an additional 42,980 shares during the period. OppenheimerFunds Inc. boosted its stake in shares of J C Penney by 77.1% in the first quarter. OppenheimerFunds Inc. now owns 512,143 shares of the department store operator’s stock valued at $3,155,000 after buying an additional 222,916 shares during the period. Finally, Cambridge Investment Research Advisors Inc. boosted its stake in shares of J C Penney by 33.6% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 16,721 shares of the department store operator’s stock valued at $103,000 after buying an additional 4,205 shares during the period. 78.87% of the stock is owned by institutional investors and hedge funds.

J C Penney Company Inc (JCP) opened at 3.60 on Monday. The company has a 50-day moving average of $4.82 and a 200-day moving average of $5.44. The stock’s market capitalization is $1.12 billion. J C Penney Company Inc has a 52-week low of $3.45 and a 52-week high of $10.74.

J C Penney (NYSE:JCP) last posted its quarterly earnings results on Friday, August 11th. The department store operator reported ($0.09) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.06) by $0.03. The firm had revenue of $2.96 billion for the quarter, compared to analyst estimates of $2.84 billion. J C Penney had a negative net margin of 2.09% and a negative return on equity of 21.07%. The business’s revenue was up 1.5% on a year-over-year basis. During the same period in the prior year, the company posted ($0.05) earnings per share. Equities research analysts expect that J C Penney Company Inc will post $0.43 EPS for the current year.

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JCP has been the topic of several analyst reports. BidaskClub raised shares of J C Penney from a “hold” rating to a “buy” rating in a report on Tuesday, August 1st. Telsey Advisory Group raised their target price on shares of J C Penney from $7.00 to $11.00 and gave the company an “outperform” rating in a report on Monday, May 15th. BMO Capital Markets set a $6.00 target price on shares of J C Penney and gave the company a “hold” rating in a report on Monday, July 10th. Deutsche Bank AG raised their target price on shares of J C Penney from $5.50 to $6.50 and gave the company a “hold” rating in a report on Tuesday, August 8th. Finally, Zacks Investment Research raised shares of J C Penney from a “hold” rating to a “buy” rating and set a $6.00 target price on the stock in a report on Friday, August 4th. Three equities research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $5.80.

In other news, Chairman Marvin R. Ellison purchased 100,000 shares of the company’s stock in a transaction that occurred on Friday, August 18th. The shares were acquired at an average cost of $3.48 per share, with a total value of $348,000.00. Following the transaction, the chairman now owns 2,852,280 shares in the company, valued at approximately $9,925,934.40. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 1.02% of the company’s stock.

J C Penney Company 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.

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

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