Sterling Capital Management LLC Invests $1.04 Million in Genesco Inc. (GCO)

Sterling Capital Management LLC purchased a new position in Genesco Inc. (NYSE:GCO) during the 3rd quarter, HoldingsChannel.com reports. The institutional investor purchased 21,998 shares of the company’s stock, valued at approximately $1,036,000.

Several other large investors also recently bought and sold shares of the company. AMP Capital Investors Ltd bought a new position in Genesco during the second quarter worth about $292,000. Raymond James & Associates lifted its holdings in Genesco by 21.0% during the second quarter. Raymond James & Associates now owns 29,480 shares of the company’s stock worth $1,170,000 after acquiring an additional 5,126 shares in the last quarter. Carillon Tower Advisers Inc. lifted its holdings in Genesco by 1.3% during the second quarter. Carillon Tower Advisers Inc. now owns 1,321,749 shares of the company’s stock worth $52,473,000 after acquiring an additional 17,469 shares in the last quarter. Unison Advisors LLC bought a new position in Genesco during the second quarter worth about $282,000. Finally, Valeo Financial Advisors LLC bought a new position in Genesco during the second quarter worth about $1,625,000.

In other Genesco news, Director Kathleen Mason sold 500 shares of Genesco stock in a transaction dated Tuesday, September 4th. The stock was sold at an average price of $50.75, for a total value of $25,375.00. Following the sale, the director now owns 43,126 shares of the company’s stock, valued at approximately $2,188,644.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 4.30% of the company’s stock.

GCO has been the topic of several recent analyst reports. Pivotal Research upgraded Genesco from a “hold” rating to a “buy” rating and lifted their target price for the stock from $44.00 to $54.00 in a report on Thursday, August 30th. Macquarie lifted their target price on Genesco from $28.00 to $32.00 and gave the stock a “hold” rating in a report on Monday, September 10th. Zacks Investment Research upgraded Genesco from a “sell” rating to a “hold” rating and set a $53.00 target price on the stock in a report on Tuesday, September 11th. Finally, ValuEngine upgraded Genesco from a “hold” rating to a “buy” rating in a report on Tuesday, July 24th. Eight research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Genesco presently has an average rating of “Hold” and a consensus target price of $39.88.

GCO opened at $45.45 on Friday. Genesco Inc. has a 1 year low of $24.25 and a 1 year high of $51.85. The stock has a market capitalization of $914.13 million, a price-to-earnings ratio of 14.47, a PEG ratio of 1.86 and a beta of 1.07. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.53 and a current ratio of 2.43.

Genesco (NYSE:GCO) last released its quarterly earnings results on Friday, September 7th. The company reported $0.04 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.04) by $0.08. Genesco had a positive return on equity of 7.53% and a negative net margin of 3.77%. The firm had revenue of $653.90 million for the quarter, compared to the consensus estimate of $641.07 million. During the same quarter last year, the business posted ($0.10) EPS. The company’s revenue for the quarter was up 6.1% on a year-over-year basis. On average, analysts expect that Genesco Inc. will post 3.24 EPS for the current fiscal year.

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Genesco Profile

Genesco Inc retails and wholesales footwear, apparel, and accessories. The company operates in five segments: Journeys Group, Schuh Group, Lids Sports Group, Johnston & Murphy Group, and Licensed Brands. The Journeys Group segment offers footwear and accessories through the Journeys, Journeys Kidz, Shi by Journeys, and Little Burgundy retail chains, as well as through e-commerce and catalogs for young men, women, and children.

Further Reading: How to Calculate Compound Annual Growth Rate (CAGR)

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Institutional Ownership by Quarter for Genesco (NYSE:GCO)

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