J C Penney (JCP) Debt Trading 0.7% Higher

An issue of J C Penney Company Inc (NYSE:JCP) bonds rose 0.7% as a percentage of their face value during trading on Tuesday. The debt issue has a 5.65% coupon and is set to mature on June 1, 2020. The debt is now trading at $99.15 and was trading at $99.00 last week. Price changes in a company’s bonds in credit markets sometimes anticipate parallel changes in its stock price.

Several equities analysts have weighed in on JCP shares. Zacks Investment Research raised J C Penney from a “sell” rating to a “hold” rating in a research report on Tuesday, October 17th. B. Riley set a $4.00 price target on J C Penney and gave the stock a “hold” rating in a research report on Monday, October 30th. Cowen set a $4.00 price target on J C Penney and gave the stock a “hold” rating in a research report on Sunday, October 29th. Robert W. Baird set a $3.00 price target on J C Penney and gave the stock a “hold” rating in a research report on Sunday, October 29th. Finally, Piper Jaffray Companies set a $3.00 price target on J C Penney and gave the stock a “hold” rating in a research report on Friday, October 27th. Three investment analysts have rated the stock with a sell rating, nineteen have given a hold rating and one has given a strong buy rating to the company. J C Penney presently has an average rating of “Hold” and a consensus target price of $4.78.

Shares of J C Penney Company Inc (NYSE JCP) traded up $0.07 during trading hours on Tuesday, hitting $3.54. The stock had a trading volume of 8,041,691 shares, compared to its average volume of 17,100,000. The stock has a market capitalization of $1,100.00, a P/E ratio of -5.80, a P/E/G ratio of 1.27 and a beta of 0.72. 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 Company Inc has a twelve month low of $2.35 and a twelve month high of $7.42.

Several large investors have recently made changes to their positions in the company. BlackRock Inc. grew its position in shares of J C Penney by 1.2% in the fourth quarter. BlackRock Inc. now owns 39,458,918 shares of the department store operator’s stock valued at $124,688,000 after purchasing an additional 467,922 shares during the period. Schwab Charles Investment Management Inc. grew its position in shares of J C Penney by 15.4% in the fourth quarter. Schwab Charles Investment Management Inc. now owns 4,047,334 shares of the department store operator’s stock valued at $12,790,000 after purchasing an additional 540,236 shares during the period. SG Americas Securities LLC grew its position in shares of J C Penney by 52.4% in the third quarter. SG Americas Securities LLC now owns 3,585,977 shares of the department store operator’s stock valued at $13,663,000 after purchasing an additional 1,232,229 shares during the period. OppenheimerFunds Inc. grew its position in shares of J C Penney by 35.0% in the fourth quarter. OppenheimerFunds Inc. now owns 2,649,673 shares of the department store operator’s stock valued at $8,373,000 after purchasing an additional 686,308 shares during the period. Finally, Spark Investment Management LLC purchased a new stake in shares of J C Penney in the fourth quarter valued at $7,996,000. 72.82% of the stock is owned by institutional investors and hedge funds.

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J C Penney Company Profile

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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