JC Penney Shares Are Popping on Surprisingly Strong Sales

Ann Santiago
November 12, 2017

Inc. ( JCP ), however, jumped more than 14% after reporting financial results for the third quarter. For example, we can find out a public company's profit margin, which lets us know how much of a company's net sales revenue was retained as earnings - which we calculate by dividing net income by total sales revenue. Holding from a "sell" rating to a "buy" rating and set a $5.75 price objective on the stock in a research note on Tuesday, July 18th. Institutional investors own 71.99% of the company's stock. The stock had a trading volume of 54,355,398 shares, compared to its average volume of 19,264,994.

Want to see what other hedge funds are holding JCP? Analysts expected a 43 cent loss. The stock has a consensus rating of "Hold" and an average target price of $5.06. Piedmont Investment Advisors LLC purchased a new position in J.C. Penney Company, Inc. Our growth strategies and new apparel initiatives led to sequential comp sales improvement in almost all merchandise categories in the third quarter, giving us confidence that our overall strategy and transformation is beginning to take hold. Geode Capital Management LLC boosted its holdings in J.C. Penney Company, Inc. IL increased its stake in J.C. Penney Company, Inc. IBM Retirement Fund now owns 31,071 shares of the department store operator's stock valued at $276,000 after buying an additional 467 shares in the last quarter.

In terms of Buy, Sell or Hold recommendations, J.C. Penney Company Inc (NYSE:JCP) has analysts' mean recommendation of 3.

While looking at the Stock's Performance, J. C. Penney Company, Inc. now shows a Weekly Performance of 7.84%, where Monthly Performance is -20.98%, Quarterly performance is -30.03%, 6 Months performance is -39.56% and yearly performance percentage is -67.11%. The firm had revenue of $2.81 billion during the quarter, compared to analyst estimates of $2.77 billion. It ended the quarter with inventory that's 8.8 percent below a year ago. Piedmont Investment Advisors LLC purchased a new position in shares of J.C. Penney Company, Inc. Past 5 years growth of J.C. Penney Company Inc (NYSE:JCP) observed at 9.37%, looking forward for the next 5 years it has a strong prediction of -28% over growth.

In other news, Director Paul J. Brown acquired 25,000 shares of the business's stock in a transaction on Monday, August 21st. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The shares were sold at an average price of $9.33, for a total value of $361,593.48. Holding by 33.6% in the first quarter. Rhumbline Advisers now owns 629,809 shares of the department store operator's stock worth $2,929,000 after acquiring an additional 60,340 shares in the last quarter. 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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