ING Groep NV Increases Stake in J. C. Penney (JCP)

ING Groep NV increased its holdings in J. C. Penney (NYSE:JCP) by 129.8% in the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 680,346 shares of the department store operator’s stock after purchasing an additional 384,331 shares during the period. ING Groep NV’s holdings in J. C. Penney were worth $2,055,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Syntal Capital Partners LLC purchased a new stake in shares of J. C. Penney in the 4th quarter valued at $126,000. Parametrica Management Ltd purchased a new stake in shares of J. C. Penney in the 1st quarter valued at $196,000. Two Sigma Advisers LP boosted its stake in shares of J. C. Penney by 45.2% in the 4th quarter. Two Sigma Advisers LP now owns 69,352 shares of the department store operator’s stock valued at $219,000 after purchasing an additional 21,600 shares in the last quarter. Metropolitan Life Insurance Co. NY purchased a new stake in shares of J. C. Penney in the 4th quarter valued at $272,000. Finally, Nokomis Capital L.L.C. purchased a new stake in shares of J. C. Penney in the 4th quarter valued at $284,000. 77.53% of the stock is owned by institutional investors.

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Shares of NYSE JCP opened at $2.91 on Wednesday. The company has a debt-to-equity ratio of 2.89, a current ratio of 1.46 and a quick ratio of 0.28. J. C. Penney has a 12 month low of $2.78 and a 12 month high of $2.95. The firm has a market capitalization of $875.52 million, a price-to-earnings ratio of 13.38, a P/E/G ratio of 1.28 and a beta of 0.77.

J. C. Penney (NYSE:JCP) last issued its quarterly earnings data on Friday, March 2nd. The department store operator reported $0.57 EPS for the quarter, topping the Thomson Reuters’ 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 analyst estimates of $4.04 billion. During the same period in the prior year, the business earned $0.64 EPS. The company’s revenue for the quarter was up 1.8% on a year-over-year basis. equities research analysts expect that J. C. Penney will post 0.14 EPS for the current year.

A number of equities research analysts have recently issued reports on JCP shares. 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 Monday, March 5th. Guggenheim reiterated a “hold” rating on shares of J. C. Penney in a report on Friday, March 2nd. ValuEngine lowered shares of J. C. Penney from a “hold” rating to a “sell” rating in a report on Thursday, March 1st. Finally, Credit Suisse Group assumed coverage on shares of J. C. Penney in a report on Monday, March 12th. They set an “underperform” rating and a $2.50 price target for the company. Four research analysts have rated the stock with a sell rating and seventeen have given a hold rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $4.27.

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, home furnishings, and large appliances; and provides services, including styling salon, optical, portrait photography, custom decorating, and home services.

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Institutional Ownership by Quarter for J. C. Penney (NYSE:JCP)

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