Trade Report: Today: Principal Financial Group Inc. Sold shares of Genesco Inc. (GCO)

Today: Principal Financial Group Inc. Sold shares of Genesco Inc. (GCO)

Principal Financial Group Inc. reduced its stake in shares of Genesco Inc. (NYSE:GCO) by 2.0% during the second quarter, Holdings Channel reports. The firm owned 152,618 shares of the company’s stock after selling 3,167 shares during the period. Principal Financial Group Inc. owned 0.74% of Genesco worth $9,815,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in GCO. State Board of Administration of Florida Retirement System raised its position in shares of Genesco by 1.1% in the second quarter. State Board of Administration of Florida Retirement System now owns 10,058 shares of the company’s stock valued at $647,000 after buying an additional 107 shares during the period. Suntrust Banks Inc. raised its position in shares of Genesco by 3.7% in the second quarter. Suntrust Banks Inc. now owns 4,187 shares of the company’s stock valued at $269,000 after buying an additional 151 shares during the period. Teacher Retirement System of Texas raised its position in shares of Genesco by 6.1% in the second quarter. Teacher Retirement System of Texas now owns 3,113 shares of the company’s stock valued at $200,000 after buying an additional 178 shares during the period. Alpha Windward LLC raised its position in shares of Genesco by 5.8% in the second quarter. Alpha Windward LLC now owns 6,600 shares of the company’s stock valued at $424,000 after buying an additional 360 shares during the period. Finally, Strs Ohio raised its position in shares of Genesco by 4.1% in the second quarter. Strs Ohio now owns 15,200 shares of the company’s stock valued at $977,000 after buying an additional 600 shares during the period. 94.05% of the stock is owned by institutional investors.

Shares of Genesco Inc. (NYSE:GCO) opened at 55.37 on Friday. The company has a market capitalization of $1.14 billion, a PE ratio of 11.61 and a beta of 1.23. The firm’s 50-day moving average is $54.81 and its 200 day moving average is $64.10. Genesco Inc. has a 12 month low of $47.66 and a 12 month high of $74.21.

Genesco (NYSE:GCO) last announced its earnings results on Thursday, September 1st. The company reported $0.34 earnings per share for the quarter, topping analysts’ consensus estimates of $0.27 by $0.07. Genesco had a net margin of 3.49% and a return on equity of 10.65%. The business earned $625.60 million during the quarter. During the same period in the prior year, the business earned $0.36 EPS. Genesco’s quarterly revenue was down 4.6% on a year-over-year basis. Equities research analysts predict that Genesco Inc. will post $3.89 EPS for the current year.

Several equities analysts have recently issued reports on the stock. B. Riley reissued a “neutral” rating and issued a $61.00 price target on shares of Genesco in a report on Thursday, October 6th. Zacks Investment Research lowered shares of Genesco from a “hold” rating to a “sell” rating in a research note on Tuesday, August 2nd. Morgan Stanley lowered shares of Genesco from an “overweight” rating to an “equal weight” rating and reduced their target price for the stock from $79.00 to $74.00 in a research note on Wednesday, July 20th. Piper Jaffray Cos. reaffirmed a “neutral” rating and issued a $62.00 target price on shares of Genesco in a research note on Thursday, September 1st. Finally, TheStreet lowered shares of Genesco from a “buy” rating to a “hold” rating in a research note on Wednesday, September 14th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and one has issued a buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $64.38.

In other news, insider David Baxter bought 5,000 shares of the stock in a transaction that occurred on Tuesday, September 20th. The stock was acquired at an average price of $51.34 per share, with a total value of $256,700.00. Following the completion of the purchase, the insider now directly owns 15,644 shares of the company’s stock, valued at $803,162.96. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director David M. Tehle bought 4,100 shares of the stock in a transaction that occurred on Friday, September 9th. The shares were purchased at an average cost of $48.66 per share, with a total value of $199,506.00. Following the purchase, the director now directly owns 6,006 shares of the company’s stock, valued at $292,251.96. The disclosure for this purchase can be found here. Corporate insiders own 3.00% of the company’s stock.

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. Its Journeys Group segment includes Journeys, Journeys Kidz, Shi by Journeys, Little Burgundy and Underground by Journeys retail stores, catalog and e-commerce operations.

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