First Trust Advisors LP Decreases Stake in Genesco Inc. (GCO)
First Trust Advisors LP decreased its position in Genesco Inc. (NYSE:GCO) by 26.6% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 37,798 shares of the company’s stock after selling 13,709 shares during the quarter. First Trust Advisors LP owned 0.19% of Genesco worth $1,281,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also recently modified their holdings of the company. BlackRock Inc. grew its position in shares of Genesco by 45,756.3% in the 1st quarter. BlackRock Inc. now owns 2,482,203 shares of the company’s stock worth $137,638,000 after acquiring an additional 2,476,790 shares in the last quarter. Vanguard Group Inc. grew its position in shares of Genesco by 0.8% in the 1st quarter. Vanguard Group Inc. now owns 1,964,020 shares of the company’s stock worth $108,905,000 after acquiring an additional 15,003 shares in the last quarter. Royce & Associates LP grew its position in shares of Genesco by 1.2% in the 1st quarter. Royce & Associates LP now owns 659,510 shares of the company’s stock worth $36,570,000 after acquiring an additional 7,500 shares in the last quarter. State Street Corp grew its position in shares of Genesco by 4.1% in the 1st quarter. State Street Corp now owns 576,694 shares of the company’s stock worth $31,978,000 after acquiring an additional 22,664 shares in the last quarter. Finally, Ameriprise Financial Inc. grew its position in shares of Genesco by 13.2% in the 1st quarter. Ameriprise Financial Inc. now owns 527,988 shares of the company’s stock worth $29,278,000 after acquiring an additional 61,626 shares in the last quarter. Institutional investors own 94.38% of the company’s stock.
Several research analysts have recently commented on the company. B. Riley reiterated a “buy” rating and issued a $50.00 target price on shares of Genesco in a research report on Saturday, May 27th. Piper Jaffray Companies set a $39.00 target price on Genesco and gave the stock a “buy” rating in a research report on Saturday, June 24th. Zacks Investment Research lowered Genesco from a “hold” rating to a “strong sell” rating in a research report on Thursday, June 1st. BidaskClub upgraded Genesco from a “strong sell” rating to a “sell” rating in a research report on Monday, July 31st. Finally, Jefferies Group LLC reiterated a “hold” rating and issued a $48.00 target price on shares of Genesco in a research report on Friday, July 14th. Two analysts have rated the stock with a sell rating, six have issued a hold rating and three have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $37.57.
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Genesco Inc. (NYSE:GCO) opened at 26.25 on Monday. The firm has a market cap of $522.87 million, a price-to-earnings ratio of 7.37 and a beta of 1.29. Genesco Inc. has a 52-week low of $20.90 and a 52-week high of $72.00. The company’s 50-day moving average price is $26.94 and its 200-day moving average price is $40.80.
Genesco (NYSE:GCO) last released its quarterly earnings data on Thursday, August 31st. The company reported ($0.10) earnings per share for the quarter, missing the consensus estimate of ($0.06) by ($0.04). Genesco had a net margin of 2.43% and a return on equity of 7.36%. The company had revenue of $616.50 million during the quarter, compared to the consensus estimate of $626.93 million. During the same quarter in the prior year, the company posted $0.34 earnings per share. The company’s revenue for the quarter was down 1.5% on a year-over-year basis. Analysts predict that Genesco Inc. will post $3.38 EPS for the current year.
In related news, Chairman Robert J. Dennis acquired 25,000 shares of the stock in a transaction dated Wednesday, September 6th. The shares were bought at an average cost of $23.81 per share, for a total transaction of $595,250.00. Following the purchase, the chairman now owns 224,935 shares in the company, valued at approximately $5,355,702.35. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Kevin Patrick Mcdermott acquired 1,000 shares of the stock in a transaction dated Thursday, July 6th. The stock was bought at an average price of $32.32 per share, for a total transaction of $32,320.00. Following the completion of the purchase, the director now owns 8,657 shares in the company, valued at approximately $279,794.24. The disclosure for this purchase can be found here. Over the last quarter, insiders bought 36,000 shares of company stock worth $869,170. Corporate insiders own 3.30% of the company’s stock.
Genesco Inc is a retailer and wholesaler of footwear, apparel and accessories. The Company operates in five segments: Journeys Group, Schuh Group, Lids Sports Group, Johnston & Murphy Group and Licensed Brands. It relies on independent third-party manufacturers for production of its footwear products sold at wholesale.
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