Canada Pension Plan Investment Board increased its stake in shares of Genesco Inc. (NYSE:GCO) by 17.3% during the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 226,900 shares of the company’s stock after buying an additional 33,400 shares during the quarter. Canada Pension Plan Investment Board owned about 1.14% of Genesco worth $6,036,000 at the end of the most recent reporting period.
A number of other institutional investors also recently made changes to their positions in GCO. State of Alaska Department of Revenue lifted its position in Genesco by 77.8% during the second quarter. State of Alaska Department of Revenue now owns 3,893 shares of the company’s stock worth $131,000 after buying an additional 1,703 shares in the last quarter. PNC Financial Services Group Inc. lifted its position in Genesco by 44.0% during the first quarter. PNC Financial Services Group Inc. now owns 2,538 shares of the company’s stock worth $142,000 after buying an additional 775 shares in the last quarter. Tower Research Capital LLC TRC purchased a new position in Genesco during the second quarter worth approximately $144,000. Public Employees Retirement System of Ohio lifted its position in Genesco by 16.9% during the second quarter. Public Employees Retirement System of Ohio now owns 4,278 shares of the company’s stock worth $145,000 after buying an additional 618 shares in the last quarter. Finally, First Quadrant L P CA purchased a new stake in Genesco in the second quarter valued at $153,000. Hedge funds and other institutional investors own 94.65% of the company’s stock.
GCO has been the topic of a number of research analyst reports. UBS AG downgraded Genesco from a “positive” rating to a “neutral” rating in a research report on Monday, August 28th. ValuEngine downgraded Genesco from a “buy” rating to a “hold” rating in a research report on Friday, September 1st. Susquehanna Bancshares Inc restated a “neutral” rating and issued a $29.00 target price (down previously from $43.00) on shares of Genesco in a research report on Monday, August 28th. BidaskClub downgraded Genesco from a “sell” rating to a “strong sell” rating in a research report on Monday, July 24th. Finally, Jefferies Group LLC restated a “hold” rating and issued a $27.00 target price on shares of Genesco in a research report on Thursday, October 12th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and four have issued a buy rating to the stock. Genesco has a consensus rating of “Hold” and a consensus target price of $32.71.
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In related news, SVP Mimi Eckel Vaughn bought 10,000 shares of the stock in a transaction that occurred 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 purchase, the senior vice president now directly owns 87,140 shares of the company’s stock, valued at approximately $2,105,302.40. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman Robert J. Dennis bought 25,000 shares of the stock in a transaction that occurred on Wednesday, September 6th. The shares were bought at an average cost of $23.81 per share, with a total value of $595,250.00. Following the completion of the purchase, the chairman now directly owns 224,935 shares in the company, valued at $5,355,702.35. The disclosure for this purchase can be found here. 3.30% of the stock is currently owned by insiders.
Shares of Genesco Inc. (NYSE GCO) opened at $25.00 on Tuesday. The company has a quick ratio of 0.47, a current ratio of 2.38 and a debt-to-equity ratio of 0.21. The stock has a market capitalization of $502.95, a price-to-earnings ratio of 7.45, a P/E/G ratio of 0.77 and a beta of 1.27. Genesco Inc. has a 1-year low of $20.90 and a 1-year high of $72.00.
Genesco (NYSE:GCO) last posted its quarterly earnings data on Thursday, August 31st. The company reported ($0.10) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.06) by ($0.04). The firm had revenue of $616.50 million during the quarter, compared to analysts’ expectations of $626.93 million. Genesco had a net margin of 2.43% and a return on equity of 7.36%. Genesco’s quarterly revenue was down 1.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.34 EPS. research analysts forecast that Genesco Inc. will post 3.46 earnings per share for the current fiscal year.
Genesco Company Profile
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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