J C Penney Company Inc (NYSE:JCP) Director Ronald W. Tysoe acquired 1,000,000 shares of J C Penney stock in a transaction dated Friday, August 16th. The shares were bought at an average cost of $0.59 per share, with a total value of $590,000.00. Following the transaction, the director now owns 1,352,128 shares in the company, valued at $797,755.52. The purchase was disclosed in a filing with the SEC, which is available through this link.
Shares of JCP opened at $0.60 on Thursday. J C Penney Company Inc has a 12-month low of $0.53 and a 12-month high of $2.05. The business’s fifty day moving average is $0.84 and its 200 day moving average is $1.18. The company has a quick ratio of 0.21, a current ratio of 1.37 and a debt-to-equity ratio of 4.86. The stock has a market cap of $191.67 million, a P/E ratio of -0.64 and a beta of 1.59.
J C Penney (NYSE:JCP) last issued its earnings results on Thursday, August 15th. The department store operator reported ($0.18) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.32) by $0.14. J C Penney had a negative return on equity of 29.24% and a negative net margin of 2.38%. The company had revenue of $2.51 billion for the quarter, compared to analysts’ expectations of $2.62 billion. During the same period last year, the business earned ($0.38) EPS. J C Penney’s quarterly revenue was down 9.2% compared to the same quarter last year. On average, analysts expect that J C Penney Company Inc will post -1.19 EPS for the current year.
Institutional investors and hedge funds have recently modified their holdings of the stock. Marshall Wace North America L.P. bought a new position in shares of J C Penney in the 1st quarter worth $41,000. Regentatlantic Capital LLC bought a new position in shares of J C Penney in the 1st quarter worth $41,000. Magnus Financial Group LLC bought a new position in shares of J C Penney in the 1st quarter worth $53,000. Stone Ridge Asset Management LLC bought a new position in shares of J C Penney in the 2nd quarter worth $74,000. Finally, Millennium Management LLC lifted its holdings in shares of J C Penney by 157.8% in the 4th quarter. Millennium Management LLC now owns 75,468 shares of the department store operator’s stock worth $78,000 after purchasing an additional 46,192 shares in the last quarter. Institutional investors own 69.34% of the company’s stock.
JCP has been the subject of several recent analyst reports. B. Riley initiated coverage on shares of J C Penney in a research report on Friday, August 16th. They set a “hold” rating and a $1.00 price objective for the company. Zacks Investment Research downgraded shares of J C Penney from a “buy” rating to a “strong sell” rating in a research report on Wednesday, May 1st. Three analysts have rated the stock with a sell rating and four have issued a hold rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $1.55.
About J C Penney
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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