Shikiar Asset Management Inc buys $481,265 stake in J C Penney Company Inc (JCP)

J C Penney Company Inc (JCP) : Shikiar Asset Management Inc scooped up 38,000 additional shares in J C Penney Company Inc during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Apr 21, 2016. The investment management firm now holds a total of 50,500 shares of J C Penney Company Inc which is valued at $481,265.J C Penney Company Inc makes up approximately 0.22% of Shikiar Asset Management Inc’s portfolio.

J C Penney Company Inc opened for trading at $9.52 and hit $9.66 on the upside on Wednesday, eventually ending the session at $9.63, with a gain of 1.48% or 0.14 points. The heightened volatility saw the trading volume jump to 75,56,229 shares. Company has a market cap of $2,953 M.

Other Hedge Funds, Including , Strs Ohio sold out all of its stake in JCP during the most recent quarter. The investment firm sold 2,947,500 shares of JCP which is valued $28,089,675.Gemmer Asset Management boosted its stake in JCP in the latest quarter, The investment management firm added 233 additional shares and now holds a total of 507 shares of J C Penney Company Inc which is valued at $4,994.

On the company’s financial health, J C Penney Company Inc reported $-0.45 EPS for the quarter, beating the analyst consensus estimate by $ 0.10 according to the earnings call on Nov 13, 2015. Analyst had a consensus of $-0.55. The company had revenue of $2897.00 million for the quarter, compared to analysts expectations of $2878.68 million. The company’s revenue was up 4.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $-0.77 EPS.

Many Wall Street Analysts have commented on J C Penney Company Inc. J C Penney Company Inc was Upgraded by Northcoast to ” Buy” on Apr 4, 2016. Company shares were Reiterated by Deutsche Bank on Mar 11, 2016 to “Buy”, Firm has raised the Price Target to $ 14 from a previous price target of $12 .Miller Tabak Initiated J C Penney Company Inc on Mar 8, 2016 to “Buy”, Price Target of the shares are set at $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 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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