J C Penney Company Inc (JCP) Sees Significant Drop in Short Interest

J C Penney Company Inc (NYSE:JCP) was the recipient of a large decline in short interest in the month of January. As of January 31st, there was short interest totalling 115,730,375 shares, a decline of 11.8% from the January 12th total of 131,277,971 shares. Approximately 39.9% of the company’s shares are sold short. Based on an average daily trading volume, of 11,699,034 shares, the short-interest ratio is presently 9.9 days.

Large investors have recently added to or reduced their stakes in the business. Syntal Capital Partners LLC purchased a new position in J C Penney during the 4th quarter valued at about $126,000. Piedmont Investment Advisors LLC purchased a new position in J C Penney during the 2nd quarter valued at about $311,000. Teacher Retirement System of Texas grew its stake in J C Penney by 313.7% during the 4th quarter. Teacher Retirement System of Texas now owns 106,538 shares of the department store operator’s stock valued at $337,000 after acquiring an additional 80,788 shares in the last quarter. Crossmark Global Holdings Inc. grew its stake in J C Penney by 101.4% during the 4th quarter. Crossmark Global Holdings Inc. now owns 110,878 shares of the department store operator’s stock valued at $350,000 after acquiring an additional 55,814 shares in the last quarter. Finally, Engineers Gate Manager LP purchased a new position in J C Penney during the 4th quarter valued at about $357,000. 72.82% of the stock is currently owned by institutional investors.

JCP has been the topic of several recent analyst reports. Zacks Investment Research upgraded J C Penney from a “sell” rating to a “hold” rating in a report on Tuesday, October 17th. Atlantic Securities downgraded J C Penney from an “overweight” rating to a “neutral” rating in a report on Friday, October 27th. Citigroup boosted their price objective on J C Penney from $3.00 to $4.00 and gave the stock a “neutral” rating in a report on Friday, October 27th. BMO Capital Markets set a $3.00 price objective on J C Penney and gave the stock a “hold” rating in a report on Friday, October 27th. Finally, Jefferies Group set a $3.00 price objective on J C Penney and gave the stock a “hold” rating in a report on Friday, October 27th. Three investment analysts have rated the stock with a sell rating, nineteen have issued a hold rating and one has given a strong buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $4.78.

J C Penney (JCP) opened at $3.47 on Tuesday. The company has a debt-to-equity ratio of 3.95, a quick ratio of 0.16 and a current ratio of 1.44. J C Penney has a 12 month low of $2.35 and a 12 month high of $7.42. The firm has a market capitalization of $1,080.00, a PE ratio of -5.69, a price-to-earnings-growth ratio of 1.27 and a beta of 0.72.

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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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