Short Interest in J C Penney Company Inc (JCP) Declines By 0.9%

J C Penney Company Inc (NYSE:JCP) was the recipient of a large drop in short interest during the month of January. As of January 12th, there was short interest totalling 131,277,971 shares, a drop of 0.9% from the December 29th total of 132,423,255 shares. Based on an average daily volume of 27,928,797 shares, the days-to-cover ratio is presently 4.7 days. Approximately 45.3% of the shares of the company are short sold.

Several equities research analysts have recently issued reports on the company. Robert W. Baird set a $4.00 target price on J C Penney and gave the company a “hold” rating in a research report on Thursday, January 4th. Susquehanna Bancshares downgraded J C Penney from a “positive” rating to a “neutral” rating and set a $3.00 price target for the company. in a research note on Tuesday, October 31st. Citigroup increased their price target on J C Penney from $3.00 to $4.00 and gave the stock a “neutral” rating in a research note on Friday, October 27th. Zacks Investment Research downgraded J C Penney from a “hold” rating to a “sell” rating in a research note on Wednesday, October 11th. Finally, Piper Jaffray Companies set a $3.00 price target on J C Penney and gave the stock a “hold” rating in a research note on Friday, October 27th. Three investment analysts have rated the stock with a sell rating, nineteen have given a hold rating and one has assigned a strong buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $4.78.

Shares of J C Penney (JCP) traded down $0.12 during midday trading on Tuesday, reaching $3.75. The company’s stock had a trading volume of 7,017,867 shares, compared to its average volume of 18,791,717. J C Penney has a fifty-two week low of $2.35 and a fifty-two week high of $7.42. The company has a current ratio of 1.44, a quick ratio of 0.16 and a debt-to-equity ratio of 3.95. The company has a market cap of $1,208.90, a P/E ratio of -6.41, a P/E/G ratio of 2.32 and a beta of 0.58.

J C Penney (NYSE:JCP) last issued its earnings results on Friday, November 10th. The department store operator reported ($0.33) EPS for the quarter, topping the consensus estimate of ($0.43) by $0.10. J C Penney had a positive return on equity of 7.60% and a negative net margin of 1.43%. The business had revenue of $2.81 billion during the quarter, compared to the consensus estimate of $2.77 billion. During the same quarter last year, the company earned ($0.21) EPS. The firm’s revenue was down 1.8% compared to the same quarter last year. equities research analysts predict that J C Penney will post 0.1 EPS for the current fiscal year.

Hedge funds and other institutional investors have recently modified their holdings of the business. Syntal Capital Partners LLC bought a new position in J C Penney in the 4th quarter worth about $126,000. Pinebridge Investments L.P. bought a new position in J C Penney in the 2nd quarter worth about $190,000. Piedmont Investment Advisors LLC bought a new position in J C Penney in the 2nd quarter worth about $311,000. Lenox Wealth Management Inc. boosted its stake in J C Penney by 93.5% in the 2nd quarter. Lenox Wealth Management Inc. now owns 71,386 shares of the department store operator’s stock worth $332,000 after purchasing an additional 34,486 shares during the period. Finally, Keel Point LLC boosted its stake in J C Penney by 100.0% in the 3rd quarter. Keel Point LLC now owns 108,000 shares of the department store operator’s stock worth $411,000 after purchasing an additional 54,000 shares during the period. Institutional investors and hedge funds own 72.62% of the company’s stock.

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About J C Penney

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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