Will J.C. Penney’s CEO Criticism Lose These Top Institutional Shareholders?

J.C. Penney (NYSE:JCP)’s Chief Executive Officer, Ron Johnson, is again in the news for all the wrong reasons. A bruising article in the New York Post quoted company sources saying that Johnson (“Ritz crackpot”) is not exactly burning the midnight oil in his efforts to turn around the beleaguered retailer and, in fact, he is only found at company headquarters about four days a week. The company jet flies Johnson in from his Palo Alto, Calif. home every week and he is put up at the Ritz Carlton luxury hotel in Dallas. This is in sharp contrast to his predecessors who moved to the city and worked long hours at the office. Even worse is that employees are now reporting in late for work and leaving earlier than usual, even though there is more work after the extensive job cuts at the retailer. Johnson is also criticized for his distant and insular management style which demoralizes workers.

Will  J. C. Penney Company, Inc.’s shareholders increase their holdings? They reported owning a total of 32.604 million shares on 12/31/2012. The shares closed at $19.71 on 12/31/2012.

Here are the ten largest positions in J. C. Penney Company, Inc. at the end of December 31st, 2012.

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

Hap Trading LLC. held 2,659,800 shares on 12/31/2012 worth $1,182,000. This brought the portfolio total to 0.05%.

J.P Morgan Chase & Co. held 2,104,990 shares on 12/31/2012 worth $41,489,351. This brought the portfolio total to 0.01%.

Bank of New York Mellon Corp. held 1,498,162 shares on 12/31/2012 worth $29,528,772. This brought the portfolio total to 0.01%.

State of New Jersey Common Pension Fund A held 1,235,000 shares on 12/31/2012 worth $24,341,849. This brought the portfolio total to 0.14%.

Pzena Investment Management LLC. held 975,782 shares on 12/31/2012 worth $19,232,662. This brought the portfolio total to 0.16%.

Icc Capital Management Inc. held 941,150 shares on 12/31/2012 worth $18,550,066. This brought the portfolio total to 0.87%.

Legal & General Group PLC. held 937,272 shares on 12/31/2012 worth $18,473,630. This brought the portfolio total to 0.03%.

New South Capital Management Inc. held 907,337 shares on 12/31/2012 worth $17,883,611. This brought the portfolio total to 0.77%.

Quantitative Investment Management LLC. held 854,300 shares on 12/31/2012 worth $16,838,252. This brought the portfolio total to 0.63%.

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.