KBC Group NV Increases Position in Genesco Inc. (GCO)
KBC Group NV raised its position in shares of Genesco Inc. (NYSE:GCO) by 12.4% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 30,924 shares of the company’s stock after acquiring an additional 3,412 shares during the period. KBC Group NV owned approximately 0.16% of Genesco worth $823,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds have also recently bought and sold shares of the business. Schwab Charles Investment Management Inc. boosted its stake in shares of Genesco by 37.3% during the third quarter. Schwab Charles Investment Management Inc. now owns 275,132 shares of the company’s stock valued at $7,319,000 after purchasing an additional 74,700 shares during the period. Wells Fargo & Company MN lifted its stake in Genesco by 17.6% in the third quarter. Wells Fargo & Company MN now owns 64,964 shares of the company’s stock worth $1,728,000 after acquiring an additional 9,739 shares during the period. JPMorgan Chase & Co. lifted its stake in Genesco by 635.0% in the third quarter. JPMorgan Chase & Co. now owns 190,388 shares of the company’s stock worth $5,026,000 after acquiring an additional 164,485 shares during the period. Pinnacle Financial Partners Inc. purchased a new stake in Genesco in the third quarter worth about $226,000. Finally, Fuller & Thaler Asset Management Inc. lifted its stake in Genesco by 0.4% in the third quarter. Fuller & Thaler Asset Management Inc. now owns 909,846 shares of the company’s stock worth $24,202,000 after acquiring an additional 3,578 shares during the period. Institutional investors and hedge funds own 97.82% of the company’s stock.
Genesco Inc. (NYSE:GCO) opened at $30.25 on Friday. Genesco Inc. has a fifty-two week low of $20.90 and a fifty-two week high of $69.05. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.31 and a quick ratio of 0.47. The firm has a market cap of $609.34, a P/E ratio of 9.78, a P/E/G ratio of 1.05 and a beta of 1.38.
GCO has been the subject of several analyst reports. SunTrust Banks set a $33.00 price target on shares of Genesco and gave the company a “buy” rating in a research report on Monday, October 16th. ValuEngine raised shares of Genesco from a “hold” rating to a “buy” rating in a research report on Monday, October 2nd. Piper Jaffray Companies restated a “buy” rating and set a $39.00 price objective on shares of Genesco in a report on Sunday, October 1st. TheStreet downgraded shares of Genesco from a “c-” rating to a “d” rating in a report on Friday, December 1st. Finally, Morgan Stanley cut their price objective on shares of Genesco from $38.00 to $28.00 and set an “equal weight” rating on the stock in a report on Wednesday, September 13th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and four have given a buy rating to the company’s stock. Genesco has a consensus rating of “Hold” and an average target price of $33.29.
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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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