Cornercap Investment Counsel Inc. lowered its position in shares of Genesco Inc. (NYSE:GCO) by 20.4% during the fourth quarter, Holdings Channel reports. The fund owned 9,390 shares of the company’s stock after selling 2,400 shares during the period. Cornercap Investment Counsel Inc.’s holdings in Genesco were worth $583,000 as of its most recent filing with the SEC.
A number of other large investors have also recently added to or reduced their stakes in the stock. Macquarie Group Ltd. raised its position in shares of Genesco by 1.5% in the second quarter. Macquarie Group Ltd. now owns 264,197 shares of the company’s stock valued at $16,991,000 after buying an additional 3,847 shares in the last quarter. Acadian Asset Management LLC bought a new position in shares of Genesco during the third quarter valued at $5,341,000. Hood River Capital Management LLC raised its position in shares of Genesco by 2.8% in the second quarter. Hood River Capital Management LLC now owns 190,592 shares of the company’s stock valued at $12,257,000 after buying an additional 5,103 shares in the last quarter. Bank of New York Mellon Corp raised its position in shares of Genesco by 9.1% in the third quarter. Bank of New York Mellon Corp now owns 280,210 shares of the company’s stock valued at $15,261,000 after buying an additional 23,464 shares in the last quarter. Finally, BlackRock Fund Advisors raised its position in shares of Genesco by 7.7% in the third quarter. BlackRock Fund Advisors now owns 1,471,822 shares of the company’s stock valued at $80,155,000 after buying an additional 105,380 shares in the last quarter. 99.61% of the stock is owned by institutional investors and hedge funds.
Shares of Genesco Inc. (NYSE:GCO) traded up 1.46% during mid-day trading on Wednesday, reaching $62.50. 14,287 shares of the company traded hands. Genesco Inc. has a 52-week low of $47.66 and a 52-week high of $74.21. The stock has a market capitalization of $1.24 billion, a PE ratio of 13.55 and a beta of 1.25. The stock’s 50 day moving average is $64.21 and its 200 day moving average is $61.94.
Genesco (NYSE:GCO) last issued its quarterly earnings data on Friday, December 2nd. The company reported $1.28 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.93 by $0.35. The business earned $711 million during the quarter, compared to analysts’ expectations of $716.89 million. Genesco had a net margin of 3.34% and a return on equity of 10.10%. Genesco’s revenue for the quarter was down 8.1% on a year-over-year basis. During the same period in the previous year, the company earned $1.40 earnings per share. On average, analysts anticipate that Genesco Inc. will post $3.99 earnings per share for the current year.
GCO has been the subject of several recent analyst reports. B. Riley reissued a “neutral” rating and set a $61.00 price objective on shares of Genesco in a report on Thursday, October 6th. CL King lowered shares of Genesco from a “strong-buy” rating to a “buy” rating in a report on Wednesday, October 19th. Zacks Investment Research raised shares of Genesco from a “strong sell” rating to a “hold” rating in a report on Tuesday, November 1st. Finally, Susquehanna raised their price objective on shares of Genesco from $57.00 to $62.00 and gave the stock a “positive” rating in a report on Thursday, November 3rd. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and two have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $62.50.
In related news, Director Thurgood Marshall, Jr. sold 1,572 shares of the company’s stock in a transaction on Thursday, December 29th. The shares were sold at an average price of $61.27, for a total transaction of $96,316.44. Following the completion of the transaction, the director now directly owns 9,016 shares in the company, valued at approximately $552,410.32. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Marty G. Dickens sold 4,000 shares of the company’s stock in a transaction on Thursday, December 8th. The shares were sold at an average price of $70.84, for a total transaction of $283,360.00. Following the transaction, the director now owns 14,079 shares of the company’s stock, valued at $997,356.36. The disclosure for this sale can be found here. 3.00% of the stock is owned by corporate insiders.
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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