Activist Investors Grab Over 25% of J.C. Penney

So-called “activist” investors now own a quarter of J.C. Penney stock, according to SEC filings.

Pershing Square Management, run by William Ackman, now holds a 16.5% stake of the retailer. It made the investment in consultation with Vornado, which recently bought 9.9% of the retailer’s shares.

“Activist investors” have had mixed with tracked records in the jewelry industry – with Richard Breeden recently stepping down from Zale’s board after buying approximately 28% of its stock.