KBC Group NV Raises Position in Genesco Inc. (GCO)
KBC Group NV boosted its position in shares of Genesco Inc. (NYSE:GCO) by 149.0% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 10,267 shares of the company’s stock after acquiring an additional 6,144 shares during the period. KBC Group NV owned approximately 0.05% of Genesco worth $408,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently modified their holdings of the company. MetLife Investment Advisors LLC bought a new position in shares of Genesco in the fourth quarter worth about $282,000. Wells Fargo & Company MN grew its holdings in shares of Genesco by 12.0% in the first quarter. Wells Fargo & Company MN now owns 68,267 shares of the company’s stock worth $2,772,000 after purchasing an additional 7,329 shares during the last quarter. Monarch Partners Asset Management LLC grew its holdings in shares of Genesco by 14.5% in the first quarter. Monarch Partners Asset Management LLC now owns 114,190 shares of the company’s stock worth $4,636,000 after purchasing an additional 14,480 shares during the last quarter. Mackay Shields LLC bought a new position in shares of Genesco in the first quarter worth about $3,488,000. Finally, Prudential Financial Inc. grew its holdings in shares of Genesco by 50.3% in the first quarter. Prudential Financial Inc. now owns 544,941 shares of the company’s stock worth $22,125,000 after purchasing an additional 182,400 shares during the last quarter.
A number of research analysts have recently commented on the stock. CL King cut shares of Genesco from a “buy” rating to a “neutral” rating in a report on Tuesday, May 29th. They noted that the move was a valuation call. ValuEngine upgraded shares of Genesco from a “hold” rating to a “buy” rating in a report on Saturday, May 26th. Zacks Investment Research upgraded shares of Genesco from a “sell” rating to a “hold” rating in a report on Friday. Pivotal Research set a $44.00 price objective on shares of Genesco and gave the stock a “hold” rating in a research note on Monday, June 4th. Finally, Piper Jaffray Companies lowered shares of Genesco from an “overweight” rating to a “neutral” rating and lowered their price objective for the stock from $45.90 to $20.90 in a research note on Friday, June 1st. They noted that the move was a valuation call. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and two have issued a buy rating to the stock. Genesco currently has a consensus rating of “Hold” and a consensus price target of $37.88.
Genesco (NYSE:GCO) last released its quarterly earnings data on Tuesday, June 5th. The company reported ($0.06) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.07) by $0.01. Genesco had a negative net margin of 3.96% and a positive return on equity of 6.98%. The company had revenue of $645.00 million during the quarter, compared to analyst estimates of $636.37 million. During the same period in the prior year, the firm earned $0.05 earnings per share. The firm’s revenue for the quarter was up .2% compared to the same quarter last year. analysts predict that Genesco Inc. will post 3.19 earnings per share for the current fiscal year.
Genesco Company 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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