Bank of New York Mellon Corp grew its holdings in Genesco Inc. (NYSE:GCO) by 8.1% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 509,119 shares of the company’s stock after acquiring an additional 37,983 shares during the period. Bank of New York Mellon Corp’s holdings in Genesco were worth $23,979,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in GCO. Wells Fargo & Company MN raised its position in shares of Genesco by 1.9% in the 3rd quarter. Wells Fargo & Company MN now owns 63,917 shares of the company’s stock worth $3,010,000 after acquiring an additional 1,211 shares in the last quarter. Legal & General Group Plc raised its position in shares of Genesco by 3.4% in the 2nd quarter. Legal & General Group Plc now owns 68,849 shares of the company’s stock worth $2,748,000 after acquiring an additional 2,238 shares in the last quarter. Northern Trust Corp raised its position in shares of Genesco by 0.6% in the 2nd quarter. Northern Trust Corp now owns 588,711 shares of the company’s stock worth $23,371,000 after acquiring an additional 3,329 shares in the last quarter. Stone Ridge Asset Management LLC raised its position in shares of Genesco by 19.9% in the 3rd quarter. Stone Ridge Asset Management LLC now owns 20,671 shares of the company’s stock worth $974,000 after acquiring an additional 3,428 shares in the last quarter. Finally, Robeco Institutional Asset Management B.V. bought a new position in shares of Genesco in the 3rd quarter worth approximately $222,000.

In related news, CEO Robert J. Dennis sold 11,380 shares of the firm’s stock in a transaction that occurred on Wednesday, January 23rd. The stock was sold at an average price of $47.14, for a total transaction of $536,453.20. Following the completion of the transaction, the chief executive officer now owns 261,361 shares of the company’s stock, valued at approximately $12,320,557.54. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 4.30% of the stock is owned by company insiders.

GCO stock opened at $47.65 on Friday. Genesco Inc. has a twelve month low of $32.00 and a twelve month high of $51.85. The company has a debt-to-equity ratio of 0.09, a current ratio of 2.26 and a quick ratio of 0.48. The company has a market cap of $948.24 million, a P/E ratio of 15.18, a P/E/G ratio of 2.88 and a beta of 0.77.

Genesco (NYSE:GCO) last posted its quarterly earnings data on Thursday, December 6th. The company reported $0.95 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.86 by $0.09. Genesco had a return on equity of 7.21% and a net margin of 2.31%. The company had revenue of $713.10 million during the quarter, compared to analyst estimates of $712.06 million. During the same quarter last year, the company earned $1.02 EPS. The firm’s revenue for the quarter was down .5% on a year-over-year basis. Equities research analysts forecast that Genesco Inc. will post 3.27 earnings per share for the current fiscal year.

Genesco declared that its board has authorized a share buyback plan on Friday, December 14th that authorizes the company to buyback $125.00 million in shares. This buyback authorization authorizes the company to reacquire up to 14.7% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s leadership believes its shares are undervalued.

Several research analysts have recently issued reports on the company. ValuEngine raised Genesco from a “hold” rating to a “buy” rating in a research report on Tuesday, November 27th. Pivotal Research reissued a “buy” rating and issued a $52.00 target price on shares of Genesco in a research report on Monday, December 3rd. Piper Jaffray Companies set a $41.00 target price on Genesco and gave the stock a “hold” rating in a research report on Friday, November 30th. Zacks Investment Research raised Genesco from a “hold” rating to a “strong-buy” rating and set a $55.00 target price for the company in a research report on Saturday, January 19th. Finally, TheStreet raised Genesco from a “c+” rating to a “b” rating in a research report on Tuesday, January 8th. Seven investment analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company. Genesco presently has an average rating of “Hold” and a consensus price target of $43.38.

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Genesco Profile

Genesco Inc retails and wholesales footwear, apparel, and accessories. The company operates in five segments: Journeys Group, Schuh Group, Lids Sports Group, Johnston & Murphy Group, and Licensed Brands. The Journeys Group segment offers footwear and accessories through the Journeys, Journeys Kidz, Shi by Journeys, and Little Burgundy retail chains, as well as through e-commerce and catalogs for young men, women, and children.

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Institutional Ownership by Quarter for Genesco (NYSE:GCO)

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