Eastbay Asset Management adds J C Penney Company Inc (JCP) to its portfolio

J C Penney Company Inc (JCP) : Eastbay Asset Management added new position in J C Penney Company Inc during the most recent quarter end. The investment management firm now holds 1,234,527 shares of J C Penney Company Inc which is valued at $13,024,260 , the company said in a statement filed on Aug 15, 2016 with the SEC.J C Penney Company Inc makes up approximately 3.02% of Eastbay Asset Management’s portfolio.

Other Hedge Funds, Including , Amp Capital Investors Ltd sold out all of its stake in JCP during the most recent quarter. The investment firm sold 51,614 shares of JCP which is valued $544,528.Parametric Portfolio Associates boosted its stake in JCP in the latest quarter, The investment management firm added 183,776 additional shares and now holds a total of 670,139 shares of J C Penney Company Inc which is valued at $7,069,966. J C Penney Company Inc makes up approx 0.01% of Parametric Portfolio Associates’s portfolio.Horrell Capital Management reduced its stake in JCP by selling 138 shares or 0.51% in the most recent quarter. The Hedge Fund company now holds 26,962 shares of JCP which is valued at $253,443. J C Penney Company Inc makes up approx 0.16% of Horrell Capital Management’s portfolio.Louisiana State Employees Retirement System reduced its stake in JCP by selling 3,100 shares or 3.65% in the most recent quarter. The Hedge Fund company now holds 81,800 shares of JCP which is valued at $768,920. J C Penney Company Inc makes up approx 0.04% of Louisiana State Employees Retirement System’s portfolio.Ibm Retirement Fund boosted its stake in JCP in the latest quarter, The investment management firm added 467 additional shares and now holds a total of 31,071 shares of J C Penney Company Inc which is valued at $284,300. J C Penney Company Inc makes up approx 0.01% of Ibm Retirement Fund’s portfolio.

J C Penney Company Inc opened for trading at $9.48 and hit $9.52 on the upside on Thursday, eventually ending the session at $9.44, with a gain of 0.11% or 0.01 points. The heightened volatility saw the trading volume jump to 1,28,95,843 shares. Company has a market cap of $2,905 M.

On the company’s financial health, J C Penney Company Inc reported $-0.05 EPS for the quarter, beating the analyst consensus estimate by $ 0.09 according to the earnings call on Aug 12, 2016. Analyst had a consensus of $-0.14. The company had revenue of $2918.00 million for the quarter, compared to analysts expectations of $2930.10 million. The company’s revenue was up 1.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $-0.41 EPS.

Many Wall Street Analysts have commented on J C Penney Company Inc. Company shares were Reiterated by Telsey Advisory Group on Aug 15, 2016 to “Outperform”, Firm has raised the Price Target to $ 13 from a previous price target of $12 .Shares were Reiterated by Miller Tabak on May 23, 2016 to “Buy” and Lowered the Price Target to $ 13 from a previous price target of $17 .

J. C. Penney Company Inc. (JCPenney) is a holding company. The Company’s operating subsidiary is J. C. Penney Corporation Inc. (JCP). The Company’s business consists of selling merchandise and services to consumers through its department stores and Website at jcpenney.com which utilizes applications for desktop mobile and tablet devices. The Company’s online customer purchases by direct shipment to the customer from its distribution facilities and stores or from its suppliers’ warehouses and by in store customer pick up. The Company sells family apparel and footwear accessories fine and fashion jewelry beauty products through Sephora inside JCPenney and home furnishings. The Company’s department stores provide its customers with services such as styling salon optical portrait photography and custom decorating.

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