Gabelli Funds LLC trimmed its holdings in J C Penney Company Inc (NYSE:JCP) by 60.9% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 465,500 shares of the department store operator’s stock after selling 726,000 shares during the period. Gabelli Funds LLC owned 0.15% of J C Penney worth $773,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Natixis boosted its stake in J C Penney by 13.7% in the 2nd quarter. Natixis now owns 1,183,549 shares of the department store operator’s stock worth $2,770,000 after buying an additional 142,795 shares during the last quarter. Eqis Capital Management Inc. acquired a new stake in J C Penney in the 2nd quarter worth about $135,000. Legal & General Group Plc boosted its stake in J C Penney by 4.9% in the 2nd quarter. Legal & General Group Plc now owns 1,030,272 shares of the department store operator’s stock worth $2,423,000 after buying an additional 47,745 shares during the last quarter. CSat Investment Advisory L.P. acquired a new stake in J C Penney in the 2nd quarter worth about $222,000. Finally, BlackRock Inc. boosted its stake in J C Penney by 5.2% in the 2nd quarter. BlackRock Inc. now owns 41,765,412 shares of the department store operator’s stock worth $97,730,000 after buying an additional 2,062,002 shares during the last quarter. 70.14% of the stock is currently owned by hedge funds and other institutional investors.

A number of analysts have issued reports on JCP shares. Citigroup decreased their price target on J C Penney to $2.00 and set a “sell” rating on the stock in a research note on Friday, August 17th. Zacks Investment Research raised J C Penney from a “sell” rating to a “hold” rating in a research note on Friday, August 3rd. Telsey Advisory Group decreased their price target on J C Penney from $3.00 to $2.00 and set a “market perform” rating on the stock in a research note on Friday, August 17th. Piper Jaffray Companies set a $2.00 price objective on J C Penney and gave the company a “hold” rating in a research note on Wednesday, October 3rd. Finally, Bank of America lowered J C Penney from a “buy” rating to an “underperform” rating in a research note on Thursday, August 16th. Five equities research analysts have rated the stock with a sell rating and eleven have issued a hold rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $3.09.

NYSE JCP opened at $1.36 on Friday. The stock has a market capitalization of $402.29 million, a PE ratio of 6.18 and a beta of 0.97. J C Penney Company Inc has a 1-year low of $1.04 and a 1-year high of $4.75. The company has a current ratio of 1.63, a quick ratio of 0.20 and a debt-to-equity ratio of 3.43.

J C Penney (NYSE:JCP) last released its quarterly earnings data on Thursday, November 15th. The department store operator reported ($0.52) earnings per share for the quarter, beating the consensus estimate of ($0.57) by $0.05. J C Penney had a negative return on equity of 8.98% and a negative net margin of 0.43%. During the same period last year, the company posted ($0.33) EPS. Sell-side analysts expect that J C Penney Company Inc will post -0.88 EPS for the current fiscal year.

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J C Penney Company Profile

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, home furnishings, and large appliances; and provides services, including styling salon, optical, portrait photography, custom decorating, and home services.

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

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