Keel Point LLC cut its stake in shares of J C Penney Company Inc (NYSE:JCP) by 50.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 54,017 shares of the department store operator’s stock after selling 53,983 shares during the period. Keel Point LLC’s holdings in J C Penney were worth $171,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in JCP. 1060 Capital LLC acquired a new stake in shares of J C Penney during the fourth quarter valued at about $4,740,000. SG Americas Securities LLC increased its position in shares of J C Penney by 52.4% during the third quarter. SG Americas Securities LLC now owns 3,585,977 shares of the department store operator’s stock valued at $13,663,000 after acquiring an additional 1,232,229 shares during the last quarter. Ameriprise Financial Inc. increased its position in shares of J C Penney by 93.9% during the second quarter. Ameriprise Financial Inc. now owns 1,629,688 shares of the department store operator’s stock valued at $7,577,000 after acquiring an additional 789,312 shares during the last quarter. Schwab Charles Investment Management Inc. increased its position in shares of J C Penney by 15.4% during the fourth quarter. Schwab Charles Investment Management Inc. now owns 4,047,334 shares of the department store operator’s stock valued at $12,790,000 after acquiring an additional 540,236 shares during the last quarter. Finally, California Public Employees Retirement System increased its position in shares of J C Penney by 28.1% during the fourth quarter. California Public Employees Retirement System now owns 1,978,823 shares of the department store operator’s stock valued at $6,253,000 after acquiring an additional 434,323 shares during the last quarter. Institutional investors and hedge funds own 72.82% of the company’s stock.

J C Penney Company Inc (NYSE JCP) opened at $3.54 on Wednesday. The company has a quick ratio of 0.16, a current ratio of 1.44 and a debt-to-equity ratio of 3.95. The firm has a market cap of $1,081.15, a P/E ratio of -6.10, a P/E/G ratio of 1.28 and a beta of 0.72. J C Penney Company Inc has a twelve month low of $2.35 and a twelve month high of $7.42.

A number of equities research analysts have weighed in on JCP shares. Citigroup lifted their price target on shares of J C Penney from $3.00 to $4.00 and gave the company a “neutral” rating in a research report on Friday, October 27th. Cowen set a $4.00 price target on shares of J C Penney and gave the company a “hold” rating in a research report on Thursday, November 30th. Zacks Investment Research upgraded shares of J C Penney from a “sell” rating to a “hold” rating in a research report on Monday, November 13th. Northcoast Research cut shares of J C Penney from a “buy” rating to a “neutral” rating in a research report on Monday, October 30th. Finally, BMO Capital Markets dropped their price objective on shares of J C Penney from $4.00 to $2.75 and set a “market perform” rating for the company in a report on Monday, October 30th. Three equities research analysts have rated the stock with a sell rating, eighteen have given a hold rating and one has issued a strong buy rating to the company’s stock. J C Penney currently has a consensus rating of “Hold” and an average price target of $4.65.

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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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