Patten & Patten Lowered Position in J C Penney Co (JCP) by $1.36 Million as Shares Declined; First Washington Has Raised Its Fireeye (FEYE) Holding by $1.29 Million as Market Valuation Rose

May 17, 2018 - By wolcottdaily

FireEye, Inc. (NASDAQ:FEYE) Logo

Patten & Patten Inc decreased its stake in J C Penney Co Inc. (JCP) by 79.1% based on its latest 2017Q4 regulatory filing with the SEC. Patten & Patten Inc sold 453,725 shares as the company’s stock declined 7.64% with the market. The institutional investor held 119,875 shares of the consumer services company at the end of 2017Q4, valued at $379,000, down from 573,600 at the end of the previous reported quarter. Patten & Patten Inc who had been investing in J C Penney Co Inc. for a number of months, seems to be less bullish one the $963.22 million market cap company. The stock increased 5.50% or $0.16 during the last trading session, reaching $3.07. About 40.98M shares traded or 138.78% up from the average. J. C. Penney Company, Inc. (NYSE:JCP) has declined 48.12% since May 17, 2017 and is downtrending. It has underperformed by 59.67% the S&P500.

First Washington Corp increased its stake in Fireeye Inc (FEYE) by 74.01% based on its latest 2017Q4 regulatory filing with the SEC. First Washington Corp bought 91,790 shares as the company’s stock rose 17.58% while stock markets declined. The institutional investor held 215,820 shares of the technology company at the end of 2017Q4, valued at $3.07M, up from 124,030 at the end of the previous reported quarter. First Washington Corp who had been investing in Fireeye Inc for a number of months, seems to be bullish on the $3.31B market cap company. The stock decreased 1.63% or $0.29 during the last trading session, reaching $17.55. About 4.38M shares traded or 16.90% up from the average. FireEye, Inc. (NASDAQ:FEYE) has risen 34.55% since May 17, 2017 and is uptrending. It has outperformed by 23.00% the S&P500.

Patten & Patten Inc, which manages about $1.33B and $999.57 million US Long portfolio, upped its stake in Conocophillips (NYSE:COP) by 13,065 shares to 99,772 shares, valued at $5.48 million in 2017Q4, according to the filing. It also increased its holding in Tjx Companies (NYSE:TJX) by 22,770 shares in the quarter, for a total of 49,585 shares, and has risen its stake in Xilinx Inc. (NASDAQ:XLNX).

Among 29 analysts covering J.C. Penney Company (NYSE:JCP), 3 have Buy rating, 5 Sell and 21 Hold. Therefore 10% are positive. J.C. Penney Company had 85 analyst reports since July 22, 2015 according to SRatingsIntel. The rating was downgraded by Citigroup on Monday, October 30 to “Sell”. The company was maintained on Thursday, August 27 by Imperial Capital. The firm has “Underweight” rating by Morgan Stanley given on Thursday, August 18. The firm earned “Hold” rating on Monday, November 13 by BMO Capital Markets. The stock has “Hold” rating by Jefferies on Thursday, September 14. The firm has “Sell” rating given on Friday, June 16 by Credit Suisse. As per Monday, May 16, the company rating was upgraded by Robert W. Baird. BMO Capital Markets maintained J. C. Penney Company, Inc. (NYSE:JCP) on Monday, October 30 with “Market Perform” rating. On Friday, August 11 the stock rating was maintained by Jefferies with “Hold”. As per Thursday, July 20, the company rating was maintained by Piper Jaffray.

More notable recent J. C. Penney Company, Inc. (NYSE:JCP) news were published by: Streetinsider.com which released: “JC Penney (JCP), Nordstrom (JWN), Others on Watch After Macy’s (M) Q1 Comps Tops Consensus at 4.2% vs 1%” on May 16, 2018, also Benzinga.com with their article: “Market Appears Directionless Amid Geopolitical, Retail, Housing News” published on May 16, 2018, Globenewswire.com published: “JC Penney Company, Inc. to Report First Quarter Financial Results on May 17, 2018 at 7:30 am ET” on May 10, 2018. More interesting news about J. C. Penney Company, Inc. (NYSE:JCP) were released by: Seekingalpha.com and their article: “JC Penney: How The Tide Can Change” published on May 10, 2018 as well as Seekingalpha.com‘s news article titled: “JC Penney expected to have volatile earnings day” with publication date: May 16, 2018.

Investors sentiment decreased to 0.82 in Q4 2017. Its down 0.37, from 1.19 in 2017Q3. It turned negative, as 47 investors sold JCP shares while 68 reduced holdings. 39 funds opened positions while 55 raised stakes. 209.82 million shares or 5.58% less from 222.21 million shares in 2017Q3 were reported. Public Employees Retirement Association Of Colorado holds 55,945 shares. Bartlett reported 400 shares. Pnc Financial Grp has 11,840 shares. Prudential Public Limited Liability Corp has invested 0.01% of its portfolio in J. C. Penney Company, Inc. (NYSE:JCP). Tiger Glob Mngmt Limited invested in 850,000 shares. Moreover, Great West Life Assurance Can has 0% invested in J. C. Penney Company, Inc. (NYSE:JCP). Natl Bank Of Mellon has 0% invested in J. C. Penney Company, Inc. (NYSE:JCP). Metropolitan Life Ny invested in 85,942 shares or 0% of the stock. Oppenheimer Com has 11,400 shares. Cordasco Finance reported 65 shares stake. Tiaa Cref Invest Mngmt Ltd Liability Corp invested in 0% or 738,840 shares. Horrell Cap Management Incorporated has 0.05% invested in J. C. Penney Company, Inc. (NYSE:JCP) for 28,741 shares. Qs Ltd Com owns 327 shares. Moreover, Tci Wealth Advsr has 0% invested in J. C. Penney Company, Inc. (NYSE:JCP) for 400 shares. Amalgamated Bancorporation reported 44,876 shares.

Among 34 analysts covering Fireeye Inc (NASDAQ:FEYE), 16 have Buy rating, 0 Sell and 18 Hold. Therefore 47% are positive. Fireeye Inc had 122 analyst reports since July 24, 2015 according to SRatingsIntel. The stock of FireEye, Inc. (NASDAQ:FEYE) earned “Buy” rating by Citigroup on Tuesday, December 8. Wunderlich maintained the stock with “Buy” rating in Wednesday, January 20 report. The rating was downgraded by Wells Fargo on Thursday, November 5 to “Market Perform”. The firm has “Buy” rating given on Friday, August 11 by Evercore. The stock has “Hold” rating by BMO Capital Markets on Wednesday, November 1. The rating was maintained by BMO Capital Markets with “Hold” on Thursday, February 8. The stock of FireEye, Inc. (NASDAQ:FEYE) earned “Neutral” rating by Piper Jaffray on Friday, February 3. The stock of FireEye, Inc. (NASDAQ:FEYE) has “Equal-Weight” rating given on Thursday, January 21 by Barclays Capital. The company was maintained on Thursday, January 21 by Oppenheimer. The firm has “Hold” rating given on Thursday, October 12 by Cowen & Co.

Since February 16, 2018, it had 0 buys, and 4 insider sales for $5.90 million activity. Another trade for 33,878 shares valued at $548,803 was sold by VERDECANNA FRANK. The insider Mandia Kevin R. sold 113,130 shares worth $1.83 million. $1.75 million worth of FireEye, Inc. (NASDAQ:FEYE) was sold by Reese Travis M. on Monday, March 5.

First Washington Corp, which manages about $237.40M and $212.60M US Long portfolio, decreased its stake in Cogent Communications Hldgs (NASDAQ:CCOI) by 19,890 shares to 85,320 shares, valued at $3.87M in 2017Q4, according to the filing. It also reduced its holding in Gtt Communications Inc (NYSE:GTT) by 19,270 shares in the quarter, leaving it with 86,340 shares, and cut its stake in Paccar Inc (NASDAQ:PCAR).

J. C. Penney Company, Inc. (NYSE:JCP) Institutional Positions Chart

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