Will J.C. Penney’s Initiative Make These Top Institutional Shareholders Happy?

| + More Articles
  • Like on Facebook
  • Share on Google+
  • Share on LinkedIn

J.C. Penney (NYSE:JCP) is in the position to open the first of its new home goods boutiques on April 5, and Chief Executive Ron Johnson himself has described this launch as “pivotal” to his efforts to revive Penney. The department store used to be a popular place for home products like window treatments and bath towels, but during 2012, Penney’s customer traffic saw a 13 percent decline, as their revenue saw a 25 percent decline. This was the first full year that the company was headed by Johnson. For seven years, home goods has been Penney’s worst performing category, and Johnson, who first made his name in retail at Target’s (NYSE:TGT) home goods business in the 1990s and pioneered the “cheap chic” esthetic, continues to experience pressure from Penney’s board to reverse sliding sales or risk losing his job.

These institutional firms indicated owning shares of J.C. Penney in Q1 2013. They reported owning a total of 0 shares on 03/31/2013. The shares closed at $15.11 on 03/31/2013.

Here are the ten largest positions in J.C. Penney at the end of March 31, 2013.

Pershing Square Capital Management LP held 39,075,771 shares on 12/31/2012 worth $770,183,411. This brought the portfolio total to 8.4 percent.

Dodge & Cox held 20,225,200 shares on 12/31/2012 worth $398,638,673. This brought the portfolio total to 0.53 percent.

State Street Corp held 17,909,178 shares on 12/31/2012 worth $352,989,882. This brought the portfolio total to 0.05 percent.

NEW! Discover a new stock idea each week for less than the cost of 1 trade. CLICK HERE for your Weekly Stock Cheat Sheets NOW!

FMR LLC held 15,837,049 shares on 12/31/2012 worth $312,148,221. This brought the portfolio total to 0.06 percent.

Wellington Management Co LLP held 13,954,793 shares on 12/31/2012 worth $275,048,957. This brought the portfolio total to 0.02 percent.

Hotchkis & Wiley Capital Management LLC held 13,877,917 shares on 12/31/2012 worth $273,533,731. This brought the portfolio total to 1.58 percent..

Evercore Trust Company N.A. held 11,948,829 shares on 12/31/2012 worth $235,511,409. This brought the portfolio total to 0.97 percent.

UBS AG held 9,425,967 shares on 12/31/2012 worth $185,785,801. This brought the portfolio total to 0.22 percent.

Vanguard Group Inc held 9,378,824 shares on 12/31/2012 worth $184,856,612. This brought the portfolio total to 0.02 percent.

Glenview Capital Management LLC held 7,299,112 shares on 12/31/2012 worth $143,865,491. This brought the portfolio total to 2.03 percent.

Knowing which stocks have institutional support will help improve your investing skills, and teach you how to ride the waves of strong moves. In fact, “S = Support is Provided By Institutional Investors & Company Insiders” is a core component of our CHEAT SHEET investing framework for this very reason. Don’t waste another minute — click here and get our CHEAT SHEET stock picks now.

More Articles About:

To contact the reporter on this story: staff.writers@wallstcheatsheet.com To contact the editor responsible for this story: editors@wallstcheatsheet.com

Yahoo Finance, Harvard Business Review, Market Watch, The Wall St. Journal, Financial Times, CNN Money, Fox Business