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JC Penney Co Inc (NYSE:JCP)
Shares Outstanding
306 Mil (As of Jan. 2015)

Shares outstanding are shares that have been authorized, issued, and purchased by investors and are held by them. JC Penney Co Inc's shares outstanding for the quarter that ended in Jan. 2015 was 306 Mil.

JC Penney Co Inc's quarterly shares outstanding increased from Dec. 2014 (305 Mil) to Jan. 2015 (306 Mil). It means JC Penney Co Inc issued new shares from Dec. 2014 to Jan. 2015 .

JC Penney Co Inc's annual shares outstanding increased from Jan. 2013 (219 Mil) to Jan. 2014 (249 Mil). It means JC Penney Co Inc issued new shares from Jan. 2013 to Jan. 2014 .


Definition

Shares outstanding are shares that have been authorized, issued, and purchased by investors and are held by them. They have voting rights and represent ownership in the corporation by the person that holds the shares. They should be distinguished from treasury shares, which are shares held by the corporation itself, having no exercisable rights.

Shares outstanding can be calculated as either basic or fully diluted. The fully diluted shares outstanding count includes diluting securities, such as options, warrants or convertibles.


Explanation

A company may buy back shares or issue shares in any fiscal period. If a company buys back shares, we should observe that the total number of shares decline. If the company issues new shares, the number of shares outstanding increases.

If a company buys back shares, we should also observe negative number for Net Issuance of Stock in its cash flow statement. If a company issues shares, we will observe positive number of Net Issuance of Stock.


Be Aware

Usually the presence of treasury shares and a history of buyback are good indicators that company has competitive advantage. But studies have shown that companies usually buy back at wrong time. Buying back shares below its intrinsic value increases value for remaining shareholders. Buying back overvalued shares destroys value for existing shareholders.


Related Terms

Net Issuance of Stock, Buy Back Rate


Historical Data

* All numbers are in millions except for per share data and ratio. All numbers are in their own currency.

JC Penney Co Inc Annual Data

Jan06Jan07Jan08Jan09Jan10Jan11Jan12Jan13Jan14Jan15
Shares Outstanding 255232225223233238217219249305

JC Penney Co Inc Quarterly Data

Jul13Oct13Dec13Jan14Apr14Jul14Oct14Dec14Jan15Apr15
Shares Outstanding 221252221305305305305305306306
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