J C Penney Company Inc (JCP) Short Interest Update

J C Penney Company Inc (NYSE:JCP) was the recipient of a large increase in short interest during the month of March. As of March 15th, there was short interest totalling 119,654,692 shares, an increase of 12.7% from the February 28th total of 106,153,647 shares. Based on an average daily volume of 24,547,017 shares, the days-to-cover ratio is presently 4.9 days. Approximately 41.3% of the company’s shares are sold short.

NYSE JCP opened at $3.02 on Monday. J C Penney has a 12-month low of $2.35 and a 12-month high of $6.30. The company has a debt-to-equity ratio of 2.89, a current ratio of 1.46 and a quick ratio of 0.28. The firm has a market capitalization of $940.94, a P/E ratio of 13.73, a price-to-earnings-growth ratio of 1.29 and a beta of 0.50.

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J C Penney (NYSE:JCP) last posted its quarterly earnings results on Friday, March 2nd. The department store operator reported $0.57 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.47 by $0.10. J C Penney had a negative net margin of 0.93% and a positive return on equity of 5.65%. The business had revenue of $4.03 billion during the quarter, compared to the consensus estimate of $4.04 billion. During the same quarter last year, the firm posted $0.64 EPS. J C Penney’s revenue was up 1.8% compared to the same quarter last year. sell-side analysts expect that J C Penney will post 0.15 earnings per share for the current year.

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Geode Capital Management LLC grew its position in J C Penney by 0.8% in the 4th quarter. Geode Capital Management LLC now owns 2,520,383 shares of the department store operator’s stock valued at $7,964,000 after purchasing an additional 19,441 shares during the period. Two Sigma Advisers LP boosted its holdings in J C Penney by 45.2% during the 4th quarter. Two Sigma Advisers LP now owns 69,352 shares of the department store operator’s stock worth $219,000 after acquiring an additional 21,600 shares during the last quarter. Swiss National Bank boosted its holdings in J C Penney by 4.6% during the 4th quarter. Swiss National Bank now owns 529,300 shares of the department store operator’s stock worth $1,673,000 after acquiring an additional 23,500 shares during the last quarter. Syntal Capital Partners LLC purchased a new position in J C Penney during the 4th quarter worth $126,000. Finally, Municipal Employees Retirement System of Michigan boosted 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 during the last quarter. 74.47% of the stock is owned by institutional investors and hedge funds.

Several research firms have issued reports on JCP. Guggenheim restated a “hold” rating on shares of J C Penney in a report on Friday, March 2nd. Piper Jaffray set a $4.00 price target on shares of J C Penney and gave the stock a “hold” rating in a report on Wednesday, January 10th. B. Riley set a $4.00 price objective on shares of J C Penney and gave the company a “hold” rating in a research note on Friday, January 5th. ValuEngine lowered shares of J C Penney from a “hold” rating to a “sell” rating in a research note on Thursday, March 1st. Finally, Robert W. Baird set a $4.00 price objective on shares of J C Penney and gave the company a “hold” rating in a research note on Thursday, January 4th. Four research analysts have rated the stock with a sell rating and eighteen have assigned a hold rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $4.31.

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J C Penney Company 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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