What Will J.C. Penney’s Top Institutional Shareholders Make of the Latest Executive Shake-Up?

J.C. Penney(NYSE:JCP): Following a completely botched shakeup that was intended to bring the company back around, it seems that the retailer liked its old team better, putting Mike Ullman back in the CEO seat and more recently, appointing Ken Mangone back to hisformer positionasexecutive vice president of product development design and sourcing. Ullman has been moving the executives around since regaining power, and has booted a fewApple(NASDAQ:AAPL) alums in the process — including Ron Johnson, who is widely regarded as being responsible for the dismal 2012 year that the company endured.

These institutional firms indicated owning shares of J.C. Penney Company, Inc. (NYSE:JCP) in Q1 2013. They reported owning a total of 24.173 million shares on 03/31/2013. The shares closed at $15.11 on 03/31/2013.

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

Vanguard Group Inc. held 9,250,663 shares on 03/31/2013 worth $139,777,515. This brought the portfolio total to 0.02%.

Blackrock Group Ltd held 5,575,430 shares on 03/31/2013 worth $84,244,745. This brought the portfolio total to 0.06%.

Blackrock Institutional Trust Company N.A. held 3,970,652 shares on 03/31/2013 worth $59,996,550. This brought the portfolio total to 0.01%.

Blackrock Fund Advisors held 1,644,188 shares on 03/31/2013 worth $24,843,680. This brought the portfolio total to 0.01%.

Bank of New York Mellon Corp. held 1,577,227 shares on 03/31/2013 worth $23,831,899. This brought the portfolio total to 0.01%.

Blackrock Inc. held 342,161 shares on 03/31/2013 worth $5,170,053. This brought the portfolio total to 0.01%.

Gateway Investment Advisers LLCheld 316,853 shares on 03/31/2013 worth $4,787,649. This brought the portfolio total to 0.04%.

Parametric Portfolio Associates LLCheld 304,839 shares on 03/31/2013 worth $4,606,117. This brought the portfolio total to 0.02%.

Blackrock Investment Management LLCheld 269,897 shares on 03/31/2013 worth $4,078,144. This brought the portfolio total to 0.01%.

Blackrock Japan Co. Ltd held 193,762 shares on 03/31/2013 worth $2,927,744. This brought the portfolio total to 0.01%.

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