Principal Financial Group Inc. Sells 7,613 Shares of Genesco Inc. (GCO)
Principal Financial Group Inc. lowered its holdings in Genesco Inc. (NYSE:GCO) by 4.9% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 149,034 shares of the company’s stock after selling 7,613 shares during the period. Principal Financial Group Inc. owned approximately 0.76% of Genesco worth $5,052,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also bought and sold shares of GCO. Thrivent Financial For Lutherans grew its position in shares of Genesco by 0.4% during the 1st quarter. Thrivent Financial For Lutherans now owns 11,300 shares of the company’s stock worth $627,000 after purchasing an additional 40 shares in the last quarter. M&T Bank Corp increased its holdings in shares of Genesco by 1.1% during the first quarter. M&T Bank Corp now owns 4,139 shares of the company’s stock worth $229,000 after purchasing an additional 45 shares during the period. Mason Street Advisors LLC increased its holdings in shares of Genesco by 3.1% during the first quarter. Mason Street Advisors LLC now owns 4,647 shares of the company’s stock worth $258,000 after purchasing an additional 140 shares during the period. Capstone Asset Management Co. increased its holdings in shares of Genesco by 1.7% during the second quarter. Capstone Asset Management Co. now owns 8,180 shares of the company’s stock worth $277,000 after purchasing an additional 140 shares during the period. Finally, Public Employees Retirement System of Ohio increased its holdings in shares of Genesco by 8.5% during the first quarter. Public Employees Retirement System of Ohio now owns 3,660 shares of the company’s stock worth $203,000 after purchasing an additional 287 shares during the period. 94.38% of the stock is owned by hedge funds and other institutional investors.
In other news, Director Kevin Patrick Mcdermott purchased 1,000 shares of the business’s stock in a transaction on Thursday, July 6th. The stock was purchased at an average cost of $32.32 per share, with a total value of $32,320.00. Following the acquisition, the director now directly owns 8,657 shares in the company, valued at $279,794.24. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP Mimi Eckel Vaughn purchased 10,000 shares of the business’s stock in a transaction on Wednesday, September 6th. The stock was purchased at an average cost of $24.16 per share, with a total value of $241,600.00. Following the completion of the acquisition, the senior vice president now owns 87,140 shares in the company, valued at $2,105,302.40. The disclosure for this purchase can be found here. Insiders have purchased a total of 36,000 shares of company stock worth $869,170 in the last ninety days. 3.30% of the stock is currently owned by insiders.
GCO has been the subject of a number of analyst reports. UBS AG downgraded shares of Genesco from a “positive” rating to a “neutral” rating in a research report on Monday, August 28th. BidaskClub raised Genesco from a “strong sell” rating to a “sell” rating in a research report on Friday, August 25th. ValuEngine raised Genesco from a “hold” rating to a “buy” rating in a research report on Monday. Jefferies Group LLC restated a “hold” rating and set a $48.00 price objective on shares of Genesco in a research note on Friday, July 14th. Finally, Buckingham Research lowered their price objective on Genesco from $38.00 to $23.00 and set a “neutral” rating on the stock in a research note on Friday, September 1st. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and four have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $37.57.
Genesco Inc. (NYSE:GCO) opened at 26.50 on Tuesday. The company has a market capitalization of $527.85 million, a PE ratio of 7.44 and a beta of 1.35. Genesco Inc. has a 52 week low of $20.90 and a 52 week high of $72.00. The company has a 50-day moving average of $25.31 and a 200-day moving average of $37.98.
Genesco (NYSE:GCO) last released its quarterly earnings data on Thursday, August 31st. The company reported ($0.10) EPS for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.04). The firm had revenue of $616.50 million during the quarter, compared to the consensus estimate of $626.93 million. Genesco had a net margin of 2.43% and a return on equity of 7.36%. Genesco’s revenue was down 1.5% compared to the same quarter last year. During the same quarter last year, the business posted $0.34 earnings per share. On average, equities research analysts anticipate that Genesco Inc. will post $3.38 EPS for the current year.
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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