J.C.Penny (JCP) : While Sears is struggling, J.C.Penny (JCP) is scripting a great comeback story at the ripe old age of 114 years, powered by the initiatives of their new CEO Marvin Ellison.
For the holiday selling period, the company opened up 500 new appliance showrooms by October, which nudged its sales higher by 2%. J.C.Penny (JCP) has gone back to its old successful model of offering their customers their “Penney’s worth”.
The focus is back on apparel, store’s home section and the Sephora makeup department.
The company’s same-store sales declined less than 1% for the nine-week November and December period, however, Ellison said that their turnaround in profitability was on track.
However, analysts’ are still skeptical if the turnaround will survive the assault of the specialty retailers, the low-and high-end retailers and the online retailers.
J.C. Penney Company, Inc. Holding Company (NYSE:JCP) has tumbled 8.9% during the past week and has dropped 25.86% in the last 4 week period. The stocks are negative as compared to the S&P 500 for the past week with a loss of 10.43%. J.C. Penney Company, Inc. Holding Company (NYSE:JCP) has underperformed the index by 26.43% in the last 4 weeks. Investors should watch out for further signals and trade with caution.
Several research reports has been issued on the company performance. In the latest statement by the brokerage house, BofA/Merrill upgraded its outlook on J.C. Penney Company, Inc. Holding Company (NYSE:JCP). The current rating of the shares is Buy, according to the research report released by the firm. Previously, the company had a rating of Neutral . The rating by the firm was issued on December 2, 2016.
J.C. Penney Company, Inc. Holding Company (NYSE:JCP) stock ended Friday session in the red zone in a volatile trading. The stock closed down 0.29 points or 3.69% at $7.57 with 58,310,599 shares getting traded. Post opening the session at $7.5, the shares hit an intraday low of $7.4 and an intraday high of $8 and the price was in this range throughout the day. The company has a market cap of $2,334 million and the number of outstanding shares has been calculated to be 308,299,670 shares. The 52-week high of J.C. Penney Company, Inc. Holding Company (NYSE:JCP) is $11.99 and the 52-week low is $6.
On the company’s insider trading activities, Ellison Marvin R, CEO of J C Penney Co Inc, executed a transaction worth $496,000 on August 25, 2016. A total of 50,000 shares were purchased at an average price of $9.92. The Insider information was divulged by the Securities and Exchange Commission in a Form 4 filing. The information is based on open market trades at the market prices.Option exercises are not covered. Currently the company Insiders own 1.28% of J.C. Penney Company, Inc. Holding Company shares according to the proxy statements. In the past twelve weeks, the net percent change held by company insiders has changed by -15.1% . Institutional Investors own 86.53% of J.C. Penney Company, Inc. Holding Company shares. During last six month period, the net percent change held by insiders has seen a change of 0.41%.
J. C. Penney Company, Inc. (JCPenney) is a holding company. The Company’s operating subsidiary is J. C. Penney Corporation, Inc. (JCP). The Company’s business consists of selling merchandise and services to consumers through its department stores and Website at jcpenney.com, which utilizes applications for desktop, mobile and tablet devices. The Company’s online customer purchases by direct shipment to the customer from its distribution facilities and stores or from its suppliers’ warehouses and by in store customer pick up. The Company sells family apparel and footwear, accessories, fine and fashion jewelry, beauty products through Sephora inside JCPenney and home furnishings. The Company’s department stores provide its customers with services, such as styling salon, optical, portrait photography and custom decorating.