J C Penney (JCP) Bonds Trading 1.3% Higher

An issue of J C Penney Company Inc (NYSE:JCP) debt rose 1.3% as a percentage of its face value during trading on Friday. The high-yield issue of debt has a 6.375% coupon and is set to mature on October 15, 2036. The debt is now trading at $67.00 and was trading at $65.50 last week. Price moves in a company’s debt in credit markets sometimes predict parallel moves in its stock price.

JCP has been the topic of a number of recent research reports. Cowen set a $4.00 target price on J C Penney and gave the company a “hold” rating in a research report on Thursday, November 30th. Zacks Investment Research downgraded J C Penney from a “hold” rating to a “sell” rating in a research report on Tuesday, December 26th. B. Riley reaffirmed a “hold” rating and issued a $3.50 target price on shares of J C Penney in a research report on Monday, November 13th. UBS Group downgraded J C Penney from a “positive” rating to a “neutral” rating in a research report on Monday, October 30th. Finally, Citigroup downgraded J C Penney from a “neutral” rating to a “sell” rating and lowered their target price for the company from $4.00 to $3.00 in a research report on Monday, October 30th. Three research analysts have rated the stock with a sell rating, eighteen have issued a hold rating and one has issued a strong buy rating to the company. J C Penney presently has a consensus rating of “Hold” and a consensus target price of $4.65.

J C Penney Company Inc (NYSE JCP) opened at $4.06 on Friday. J C Penney Company Inc has a 1-year low of $2.35 and a 1-year high of $6.87. The company has a current ratio of 1.44, a quick ratio of 0.16 and a debt-to-equity ratio of 3.95. The company has a market capitalization of $1,264.98, a PE ratio of 14.50, a P/E/G ratio of 1.50 and a beta of 0.72.

A number of institutional investors have recently bought and sold shares of the stock. Geode Capital Management LLC grew its holdings in J C Penney by 0.8% during the fourth quarter. Geode Capital Management LLC now owns 2,520,383 shares of the department store operator’s stock worth $7,964,000 after purchasing an additional 19,441 shares during the period. Two Sigma Advisers LP boosted its holdings in shares of J C Penney by 45.2% during the fourth quarter. Two Sigma Advisers LP now owns 69,352 shares of the department store operator’s stock worth $219,000 after acquiring an additional 21,600 shares during the period. Swiss National Bank boosted its holdings in shares of J C Penney by 4.6% during the fourth quarter. Swiss National Bank now owns 529,300 shares of the department store operator’s stock worth $1,673,000 after acquiring an additional 23,500 shares during the period. Wedge Capital Management L L P NC boosted its holdings in shares of J C Penney by 29.5% during the third quarter. Wedge Capital Management L L P NC now owns 140,167 shares of the department store operator’s stock worth $534,000 after acquiring an additional 31,920 shares during the period. Finally, Syntal Capital Partners LLC bought a new stake in shares of J C Penney during the fourth quarter worth approximately $126,000. Institutional investors and hedge funds own 73.71% of the company’s stock.

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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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