Texas Permanent School Fund lessened its position in shares of J C Penney Company Inc (NYSE:JCP) by 7.3% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 210,293 shares of the department store operator’s stock after selling 16,562 shares during the period. Texas Permanent School Fund’s holdings in J C Penney were worth $665,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Syntal Capital Partners LLC acquired a new position in J C Penney during the 4th quarter worth approximately $126,000. Piedmont Investment Advisors LLC acquired a new position in J C Penney during the 2nd quarter worth approximately $311,000. Keel Point LLC grew its holdings in J C Penney by 100.0% during the 3rd quarter. Keel Point LLC now owns 108,000 shares of the department store operator’s stock worth $411,000 after acquiring an additional 54,000 shares in the last quarter. Municipal Employees Retirement System of Michigan grew its holdings in J C Penney by 58.8% during the 3rd quarter. Municipal Employees Retirement System of Michigan now owns 116,240 shares of the department store operator’s stock worth $443,000 after acquiring an additional 43,030 shares in the last quarter. Finally, Wedge Capital Management L L P NC lifted its position in shares of J C Penney by 29.5% during the 3rd quarter. Wedge Capital Management L L P NC now owns 140,167 shares of the department store operator’s stock worth $534,000 after buying an additional 31,920 shares during the last quarter. Institutional investors own 72.82% of the company’s stock.
JCP has been the subject of several recent analyst reports. Citigroup boosted their price objective on shares of J C Penney from $3.00 to $4.00 and gave the stock a “neutral” rating in a research report on Friday, October 27th. Cowen set a $4.00 price objective on shares of J C Penney and gave the stock 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 downgraded 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 reduced 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 research report on Monday, October 30th. Three research analysts have rated the stock with a sell rating, eighteen have issued a hold rating and one has assigned a strong buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $4.65.
Shares of J C Penney Company Inc (JCP) opened at $3.88 on Friday. J C Penney Company Inc has a 12-month low of $2.35 and a 12-month high of $7.18. The company has a market cap of $1,208.90, a price-to-earnings ratio of 13.86, a P/E/G ratio of 1.43 and a beta of 0.72. The company has a debt-to-equity ratio of 3.95, a current ratio of 1.44 and a quick ratio of 0.16.
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J C Penney 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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