An issue of J C Penney Company Inc (NYSE:JCP) bonds fell 1.6% against their face value during trading on Wednesday. The debt issue has a 8.625% coupon and will mature on March 15, 2025. The debt is now trading at $98.38. Price moves in a company’s bonds in credit markets sometimes anticipate parallel moves in its share price.
Several analysts have recently weighed in on the stock. B. Riley set a $4.00 price objective on shares of J C Penney and gave the company a “hold” rating in a research report on Monday, March 5th. Guggenheim restated a “hold” rating on shares of J C Penney in a research report on Friday, March 2nd. 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 report on Thursday, January 4th. ValuEngine cut shares of J C Penney from a “hold” rating to a “sell” rating in a research report on Thursday, March 1st. Finally, Credit Suisse Group began coverage on shares of J C Penney in a research report on Monday. They set an “underperform” rating and a $2.50 price objective on the stock. Four 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.
J C Penney Company Inc (NYSE JCP) traded down $0.23 during mid-day trading on Wednesday, hitting $3.05. 24,891,038 shares of the company traded hands, compared to its average volume of 17,430,000. The company has a market cap of $950.29, a price-to-earnings ratio of -4.92, a P/E/G ratio of 1.25 and a beta of 0.50. J C Penney Company Inc has a 52 week low of $2.35 and a 52 week high of $6.30. The company has a debt-to-equity ratio of 2.89, a quick ratio of 0.28 and a current ratio of 1.46.
A number of institutional investors have recently made changes to their positions in the business. Geode Capital Management LLC grew its holdings 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 worth $7,964,000 after acquiring an additional 19,441 shares during the last quarter. Two Sigma Advisers LP boosted its stake in shares of 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 valued at $219,000 after purchasing an additional 21,600 shares in the last quarter. Swiss National Bank boosted its stake in shares of 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 valued at $1,673,000 after purchasing an additional 23,500 shares in the last quarter. Syntal Capital Partners LLC bought a new stake in shares of J C Penney during the 4th quarter valued at about $126,000. Finally, Municipal Employees Retirement System of Michigan boosted its stake in shares of 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 valued at $443,000 after purchasing an additional 43,030 shares in the last quarter. 78.92% of the stock is currently owned by institutional investors and hedge funds.
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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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