JC Penney shares jump on holiday outlook, surprise sales rise

JCPenney

Total net sales fell 1.8% to $2.81 billion from $2.86 billion a year ago. Vanguard Group Inc. grew its position in shares of J.C. Penney Company, Inc. Holding by 4.8% during the first quarter. Holding by 10.6% in the second quarter. Institutional investors and hedge funds own 87.09% of the company's stock.

J.C. Penney Company, Inc. Holding Company has a 12-month low of $2.35 and a 12-month high of $10.74. For the past 5 days of trading, the stock has seen a move of -5.64%. Total debt to equity ratio of the company for most recent quarter is 0.00 whereas long term debt to equity ratio for most recent quarter is 0.00. Holding Company will post 0.06 earnings per share for the current year.

The early rally by J.C. Penney came after the department store operator reported a narrower than expected third quarter loss on better than expected revenues.

Revenue was $2.81 billion, also exceeding Wall Street forecasts for $2.76 billion. (JCP) remained unsuccessful in beating the consensus-estimated -$0.05 as it actually earned -$0.09 per share in its last reported financial results.

Hodges Capital Management Inc. holds 2.21% of its portfolio in J C Penney Company Inc for 8.01 million shares. The company's beta value is at 0.48. Morgan Stanley upgraded the shares of JCP in report on Monday, February 13 to "Equal-Weight" rating.

J.C. Penney, though, had extra challenges in restoring sales after a disastrous attempt to reinvent the company under former Apple executive Ron Johnson. Holding in a report on Wednesday, August 16th. Jefferies Group LLC reiterated a "hold" rating and issued a $4.00 price target on shares of J.C. Penney Company, Inc. Holding and gave the company a "hold" rating in a research note on Sunday, October 29th. Northcoast Research lowered J.C. Penney Company, Inc. Finally, Deutsche Bank AG raised their target price on J.C. Penney Company, Inc. Holding from a buy rating to a hold rating in a report on Saturday, August 12th. Meanwhile, the average 12-month price target from Wall Street analysts is now $3.72, this means that the stock is underpriced by 32.527%.

On the other hand, J.C. Penney's gross margin pressure was just as bad as expected.

Trading volume is a gauge of how many times a stock is bought and sold in a given time period (most commonly, within a day of trading, known as the average daily trading volume - ADTV). Following the completion of the purchase, the director now directly owns 518,970 shares of the company's stock, valued at approximately $1,889,050.80. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Comparable sales at Nordstrom's, which were also announced on Thursday, also underwhelmed. First Dallas Securities Inc. owns 478,750 shares or 1.63% of their USA portfolio.

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