Teacher Retirement System of Texas boosted its position in shares of J.C. Penney Co. (NYSE:JCP) by 20.1% during the second quarter, Holdings Channel reports. The institutional investor owned 42,980 shares of the department store operator’s stock after buying an additional 7,189 shares during the period. Teacher Retirement System of Texas’ holdings in J.C. Penney were worth $382,000 at the end of the most recent reporting period.
Other large investors have also recently added to or reduced their stakes in the company. Geode Capital Management LLC increased its position in shares of J.C. Penney by 6.6% in the first quarter. Geode Capital Management LLC now owns 1,917,920 shares of the department store operator’s stock worth $21,212,000 after buying an additional 118,463 shares during the last quarter. Quadrature Capital Ltd bought a new position in shares of J.C. Penney during the first quarter worth approximately $1,236,000. Primecap Management Co. CA increased its position in shares of J.C. Penney by 114.7% in the first quarter. Primecap Management Co. CA now owns 1,000,000 shares of the department store operator’s stock worth $11,060,000 after buying an additional 534,300 shares during the last quarter. OMERS ADMINISTRATION Corp bought a new position in shares of J.C. Penney during the first quarter worth approximately $660,000. Finally, M&T Bank Corp increased its position in shares of J.C. Penney by 33.8% in the first quarter. M&T Bank Corp now owns 29,247 shares of the department store operator’s stock worth $324,000 after buying an additional 7,389 shares during the last quarter. Institutional investors and hedge funds own 88.62% of the company’s stock.
Shares of J.C. Penney Co. (NYSE:JCP) opened at 9.1001 on Tuesday. The firm’s 50-day moving average is $9.65 and its 200-day moving average is $9.21. J.C. Penney Co. has a one year low of $6.00 and a one year high of $11.99. The company’s market cap is $2.80 billion.
J.C. Penney (NYSE:JCP) last released its quarterly earnings data on Friday, August 12th. The department store operator reported ($0.05) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.15) by $0.10. J.C. Penney had a negative net margin of 3.11% and a negative return on equity of 10.18%. The firm earned $2.92 billion during the quarter, compared to analysts’ expectations of $2.93 billion. During the same period in the previous year, the business posted ($0.41) earnings per share. The company’s revenue for the quarter was up 1.5% compared to the same quarter last year. Analysts expect that J.C. Penney Co. will post $0.16 EPS for the current fiscal year.
A number of brokerages recently commented on JCP. B. Riley reaffirmed a “buy” rating and set a $16.00 price objective on shares of J.C. Penney in a research report on Saturday. Vetr raised shares of J.C. Penney from a “buy” rating to a “strong-buy” rating and set a $10.35 price objective on the stock in a research report on Monday, October 3rd. Guggenheim began coverage on shares of J.C. Penney in a research report on Friday, September 30th. They set a “neutral” rating on the stock. Finally, Robert W. Baird reaffirmed an “outperform” rating and set a $13.00 price objective on shares of J.C. Penney in a research report on Sunday, August 21st. Two equities research analysts have rated the stock with a sell rating, twelve have given a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company’s stock. J.C. Penney currently has an average rating of “Hold” and a consensus price target of $11.44.
In related news, Chairman Marvin R. Ellison acquired 50,000 shares of J.C. Penney stock in a transaction on Thursday, August 25th. The stock was purchased at an average cost of $9.92 per share, with a total value of $496,000.00. Following the completion of the transaction, the chairman now directly owns 2,557,317 shares in the company, valued at approximately $25,368,584.64. The purchase was disclosed in a document filed with the SEC, which is available through this link. Company insiders own 1.28% of the company’s stock.
About J.C. Penney
J. C. Penney Company, Inc is a holding company. The Company’s operating subsidiary is J. C. Penney Corporation, Inc (JCP). The Company’s business consists of selling merchandise and services to consumers through its department stores and its Website at jcpenney.com, which utilizes optimized applications for desktop, mobile and tablet devices.
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