Arizona State Retirement System cut its stake in shares of J C Penney Company Inc (NYSE:JCP) by 42.8% during the 4th quarter, Holdings Channel reports. The fund owned 200,581 shares of the department store operator’s stock after selling 150,312 shares during the period. Arizona State Retirement System’s holdings in J C Penney were worth $225,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Lineweaver Wealth Advisors LLC bought a new position in shares of J C Penney in the fourth quarter valued at $34,000. Cetera Advisors LLC lifted its position in shares of J C Penney by 80.5% during the third quarter. Cetera Advisors LLC now owns 44,761 shares of the department store operator’s stock valued at $40,000 after purchasing an additional 19,964 shares in the last quarter. Marshall Wace North America L.P. bought a new position in shares of J C Penney during the first quarter valued at about $41,000. Nisa Investment Advisors LLC bought a new position in shares of J C Penney during the fourth quarter valued at about $52,000. Finally, Graybill Bartz & Assoc Ltd. bought a new position in shares of J C Penney during the third quarter valued at about $71,000. 58.93% of the stock is currently owned by institutional investors and hedge funds.
JCP opened at $0.72 on Friday. The company has a debt-to-equity ratio of 5.90, a current ratio of 1.51 and a quick ratio of 0.20. The company’s 50-day moving average is $0.89 and its 200 day moving average is $0.92. J C Penney Company Inc has a fifty-two week low of $0.53 and a fifty-two week high of $1.91. The firm has a market capitalization of $233.95 million, a P/E ratio of -1.06 and a beta of 1.80.
J C Penney (NYSE:JCP) last released its quarterly earnings results on Friday, November 15th. The department store operator reported ($0.30) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.55) by $0.25. J C Penney had a negative net margin of 1.92% and a negative return on equity of 24.09%. The company had revenue of $2.38 billion for the quarter, compared to analyst estimates of $2.43 billion. During the same period last year, the firm earned ($0.52) earnings per share. The firm’s revenue was down 10.1% on a year-over-year basis. On average, equities research analysts expect that J C Penney Company Inc will post -1.05 earnings per share for the current year.
Separately, ValuEngine raised shares of J C Penney from a “hold” rating to a “buy” rating in a research report on Saturday, January 4th.
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, and home furnishings; and provides services, including styling salon, optical, portrait photography, and custom decorating services.
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