J.C. Penney Company, Inc. Holding Company (NYSE:JCP) shot up 15.3% during trading on Monday after the company announced better than expected quarterly earnings. The company traded as high as $3.29 and last traded at $3.17. 54,370,100 shares were traded during mid-day trading, an increase of 182% from the average session volume of 19,264,994 shares. The stock had previously closed at $2.75.

The department store operator reported ($0.33) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.43) by $0.10. J.C. Penney Company, Inc. Holding had a negative net margin of 1.43% and a positive return on equity of 7.60%. The company had revenue of $2.81 billion during the quarter, compared to the consensus estimate of $2.77 billion. During the same quarter in the previous year, the firm earned ($0.21) earnings per share. The firm’s quarterly revenue was down 1.8% on a year-over-year basis.

A number of brokerages recently issued reports on JCP. BidaskClub downgraded shares of J.C. Penney Company, Inc. Holding from a “buy” rating to a “hold” rating in a research note on Saturday, August 12th. Jefferies Group LLC set a $4.00 price target on shares of J.C. Penney Company, Inc. Holding and gave the stock a “hold” rating in a research note on Friday, August 11th. B. Riley reiterated a “hold” rating and issued a $3.50 price target on shares of J.C. Penney Company, Inc. Holding in a research note on Monday. Cowen and Company set a $6.00 price target on shares of J.C. Penney Company, Inc. Holding and gave the stock a “hold” rating in a research note on Friday, August 11th. Finally, Citigroup Inc. decreased their price target on shares of J.C. Penney Company, Inc. Holding from $5.00 to $4.00 and set a “neutral” rating for the company in a research note on Monday, August 14th. Two analysts have rated the stock with a sell rating, twenty-one have issued a hold rating, one has issued a buy 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 price target of $5.03.

In other news, Chairman Marvin R. Ellison acquired 100,000 shares of the company’s stock in a transaction on Friday, August 18th. The shares were bought at an average cost of $3.48 per share, with a total value of $348,000.00. Following the purchase, the chairman now owns 2,852,280 shares of the company’s stock, valued at approximately $9,925,934.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Jeffrey A. Davis acquired 50,000 shares of the company’s stock in a transaction on Tuesday, August 22nd. The stock was purchased at an average cost of $3.62 per share, for a total transaction of $181,000.00. Following the completion of the purchase, the chief financial officer now directly owns 72,645 shares in the company, valued at approximately $262,974.90. The disclosure for this purchase can be found here. Insiders acquired a total of 310,135 shares of company stock worth $1,111,391 over the last three months. 1.02% of the stock is currently owned by corporate insiders.

A number of institutional investors and hedge funds have recently made changes to their positions in JCP. Tudor Investment Corp ET AL increased its stake in J.C. Penney Company, Inc. Holding by 12.8% in the 1st quarter. Tudor Investment Corp ET AL now owns 22,900 shares of the department store operator’s stock valued at $141,000 after buying an additional 2,600 shares during the period. Blair William & Co. IL increased its stake in J.C. Penney Company, Inc. Holding by 3.1% in the 2nd quarter. Blair William & Co. IL now owns 33,625 shares of the department store operator’s stock valued at $156,000 after buying an additional 1,000 shares during the period. Quinn Opportunity Partners LLC increased its stake in J.C. Penney Company, Inc. Holding by 13.9% in the 2nd quarter. Quinn Opportunity Partners LLC now owns 40,900 shares of the department store operator’s stock valued at $190,000 after buying an additional 5,000 shares during the period. Pinebridge Investments L.P. acquired a new position in J.C. Penney Company, Inc. Holding in the 2nd quarter valued at $190,000. Finally, US Bancorp DE increased its stake in J.C. Penney Company, Inc. Holding by 1.7% in the 2nd quarter. US Bancorp DE now owns 63,629 shares of the department store operator’s stock valued at $296,000 after buying an additional 1,054 shares during the period. 70.46% of the stock is currently owned by institutional investors.

The company has a debt-to-equity ratio of 3.95, a quick ratio of 0.16 and a current ratio of 1.44. The firm has a market cap of $985.05, a P/E ratio of 11.32 and a beta of 0.53.

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J.C. Penney Company, Inc. Holding 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.

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