Bill Ackman filed his recent insider purchases in JC Penney Co Inc. (JCP). His Pershing Square Capital Management bought 360,200 shares of JCP on January 21, revealing totally 39.08 million shares of JCP in its position, giving about 18.47% activist stake. Ackman had 38.72 million shares or 18.3% stake of JCP at the end of the third quarter 2011.
“I feel great about Ron Johnson running JC Penney and the people he’s recruited. The way he changed helped lift morale at the company,” said Ackman. “I’m sure I’m on the right track, and I like it a lot.
JC Penney is “a retailer company which operates department stores in the United States. Its business is consists of selling merchandise and services to consumers through its department stores and through the Internet Website at jcp.com. The Company sells family apparel and footwear, accessories, fine and fashion jewelry, beauty products through Sephora inside jcpenney and home furnishings. In addition, its department stores provide its customers with services, such as styling salon, optical, portrait photography and custom decorating,” according to Google Finance.