Public Sector Pension investment Board lowered its stake in shares of Genesco Inc. (NYSE:GCO) by 29.7% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 10,170 shares of the company’s stock after selling 4,300 shares during the quarter. Public Sector Pension investment Board owned about 0.05% of Genesco worth $345,000 at the end of the most recent quarter.
Other institutional investors also recently made changes to their positions in the company. Envestnet Asset Management Inc. boosted its position in Genesco by 26.2% during the first quarter. Envestnet Asset Management Inc. now owns 2,347 shares of the company’s stock worth $130,000 after purchasing an additional 487 shares during the period. State of Alaska Department of Revenue boosted 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 purchasing an additional 1,703 shares during the period. PNC Financial Services Group Inc. boosted 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 purchasing an additional 775 shares during the period. First Quadrant L P CA bought a new stake in Genesco during the second quarter worth approximately $153,000. Finally, SG Americas Securities LLC boosted its position in Genesco by 25.1% during the first quarter. SG Americas Securities LLC now owns 2,815 shares of the company’s stock worth $156,000 after purchasing an additional 565 shares during the period. 94.38% of the stock is owned by hedge funds and other institutional investors.
In other Genesco news, Chairman Robert J. Dennis bought 25,000 shares of Genesco stock in a transaction dated Wednesday, September 6th. The stock was bought at an average cost of $23.81 per share, for a total transaction of $595,250.00. Following the purchase, the chairman now owns 224,935 shares of the company’s stock, valued at approximately $5,355,702.35. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Mimi Eckel Vaughn bought 10,000 shares of Genesco stock in a transaction dated Wednesday, September 6th. The shares were acquired at an average price of $24.16 per share, with a total value of $241,600.00. Following the completion of the purchase, the senior vice president now directly owns 87,140 shares in the company, valued at approximately $2,105,302.40. The disclosure for this purchase can be found here. Insiders own 3.30% of the company’s stock.
A number of brokerages have issued reports on GCO. UBS AG cut 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. Jefferies Group LLC reaffirmed a “hold” rating and set a $27.00 target price on shares of Genesco in a research report on Thursday. ValuEngine raised Genesco from a “hold” rating to a “buy” rating in a research report on Monday, October 2nd. Finally, Buckingham Research decreased their target price on Genesco from $38.00 to $23.00 and set a “neutral” rating for the company in a research report on Friday, September 1st. Two investment 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. The company has a consensus rating of “Hold” and a consensus target price of $32.67.
Shares of Genesco Inc. (GCO) opened at 24.10 on Friday. The firm’s 50-day moving average price is $25.42 and its 200-day moving average price is $36.48. Genesco Inc. has a 12 month low of $20.90 and a 12 month high of $72.00. The company has a market cap of $480.05 million, a PE ratio of 6.77 and a beta of 1.36.
Genesco (NYSE:GCO) last issued its earnings results on Thursday, August 31st. The company reported ($0.10) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.06) by ($0.04). Genesco had a return on equity of 7.36% and a net margin of 2.43%. The business had revenue of $616.50 million for the quarter, compared to the consensus estimate of $626.93 million. During the same quarter in the prior year, the firm posted $0.34 earnings per share. The business’s revenue was down 1.5% compared to the same quarter last year. Equities analysts predict that Genesco Inc. will post $3.38 EPS for the current fiscal year.
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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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