The company's shares closed Friday at $3.17, up 41 cents, or 14.9 percent.
TRADEMARK VIOLATION WARNING: "J.C. Penney Company, Inc". However the six-month change in the insider ownership was recorded 5.13%, as well as three-month change in the institutional ownership was recorded -0.11%.
It's not clear why Penney underestimated its own sales by that much when there was only one day left in the quarter. Following the acquisition, the director now directly owns 518,970 shares of the company's stock, valued at approximately $1,889,050.80. The brokerage now has a "hold" rating on the department store operator's stock. Investors Asset Management of Georgia Inc.
Shares of J.C. Penney Company, Inc. Holding will post 0.06 earnings per share for the current year. Cambridge Investment Research Advisors Inc. now owns 16,721 shares of the department store operator's stock valued at $103,000 after purchasing an additional 4,205 shares in the last quarter. The stock had a trading volume of 54,355,398 shares, compared to its average volume of 19,264,994.
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Shares of J.C. Penney Co. (NYSE:JCP) had a closing price of $2.51 yesterday. According to these analysts, the Low Revenue Estimate for J. C. Penney Company, Inc.is 2.61 Billion and the High Revenue Estimate is 2.87 Billion. The company's 50 day moving average is $9.31 and its 200-day moving average is $9.20.
Previously J.C. Penney Company Inc (NYSE:JCP) reported $-0.09 earnings per share (EPS) for the quarter, missing the consensus estimate of $-0.05 by $-0.04.
"You're going to see in our new holiday campaign a huge emphasis on value and price", J.C. Penney CEO Marvin Ellison said on a call to discuss earnings, noting that where the retailer did not have a centralized pricing strategy just over a year ago, it would now be aggressive on pricing online and in stores. Holding had a negative net margin of 0.94% and a positive return on equity of 10.55%. In the year-ago quarter, the company reported revenue of $2.86 billion. Zacks Investment Research raised shares of J.C. Penney Company, Inc. The company posted a loss of 33 cents, beating expectations by 10 cents. Holding from $3.00 to $4.00 and gave the company a neutral rating in a research report on Friday, October 27th. Holding and gave the company a "market perform" rating in a research report on Saturday, August 12th. Holding presently has an average rating of Hold and a consensus target price of $5.06.
In other J.C. Penney news, EVP John Joseph Tighe III sold 38,756 shares of the stock in a transaction dated Friday, November 18th. The shares were acquired at an average price of $3.62 per share, for a total transaction of $90,500.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 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. The Company's operating subsidiary is J. C. Penney Corporation, Inc (JCP).