Will J.C. Penney’s Executive Shake-Up Bother These Top Institutional Shareholders?

J.C. Penney (NYSE:JCP) lost its vice president of strategic marketing to Home Depot (NYSE:HD), which is the third high-profile exit from the division for the department store chain during the past 10 months. Lisa DeStefano-Orebaugh is to be a vice president of marketing and brand management, Jean Niemi, a spokeswoman for Home Depot, informed Bloomberg. Michael Francis left his rolse as J.C. Penney’s merchandise and marketing chief in June, and Greg Clark left as senior vice president of creative marketing in October previous to being named Jones Group Inc.’s marketing chief last week. Chief Executive Officer Ron Johnson admits that marketing missteps like sending customers less mail and failing to communicate his new everyday low pricing strategy has been a cause of the declining sales.

These institutional firms indicated owning shares of J.C. Penney in Q4 2012. They reported owning a total of 301.66 million shares on 12/31/2012. The shares closed at $19.71 on 12/31/2012.

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

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.

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.

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