Great Lakes Advisors LLC Takes Position in Genesco Inc. (GCO)

Great Lakes Advisors LLC bought a new stake in Genesco Inc. (NYSE:GCO) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 90,011 shares of the company’s stock, valued at approximately $4,240,000.

Other large investors have also recently bought and sold shares of the company. BlackRock Inc. raised its position in shares of Genesco by 7.4% during the 2nd quarter. BlackRock Inc. now owns 2,727,007 shares of the company’s stock valued at $108,263,000 after acquiring an additional 188,914 shares during the last quarter. Morgan Stanley raised its position in shares of Genesco by 128.6% during the 3rd quarter. Morgan Stanley now owns 314,676 shares of the company’s stock valued at $14,821,000 after acquiring an additional 177,047 shares during the last quarter. Royce & Associates LP raised its position in shares of Genesco by 112.0% during the 3rd quarter. Royce & Associates LP now owns 217,591 shares of the company’s stock valued at $10,249,000 after acquiring an additional 114,940 shares during the last quarter. Hussman Strategic Advisors Inc. bought a new stake in shares of Genesco during the 3rd quarter valued at $4,710,000. Finally, FMR LLC raised its position in shares of Genesco by 9.3% during the 3rd quarter. FMR LLC now owns 1,122,800 shares of the company’s stock valued at $52,884,000 after acquiring an additional 95,644 shares during the last quarter.

In other news, Director Kathleen Mason sold 500 shares of the business’s stock in a transaction on Tuesday, September 4th. The shares were sold at an average price of $50.75, for a total value of $25,375.00. Following the completion of the transaction, the director now owns 43,126 shares of the company’s stock, valued at approximately $2,188,644.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 4.30% of the stock is owned by insiders.

Several analysts have commented on GCO shares. ValuEngine upgraded shares of Genesco from a “hold” rating to a “buy” rating in a research report on Tuesday, November 27th. Pivotal Research set a $55.00 target price on shares of Genesco and gave the company a “buy” rating in a research report on Monday, September 10th. Piper Jaffray Companies set a $41.00 target price on shares of Genesco and gave the company a “hold” rating in a research report on Friday. Zacks Investment Research upgraded shares of Genesco from a “sell” rating to a “hold” rating in a research report on Friday, August 24th. Finally, Macquarie upped their target price on shares of Genesco from $28.00 to $32.00 and gave the company a “hold” rating in a research report on Monday, September 10th. Eight equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $41.78.

Shares of GCO stock opened at $41.76 on Monday. Genesco Inc. has a 12-month low of $24.50 and a 12-month high of $51.85. The firm has a market capitalization of $843.25 million, a PE ratio of 13.30, a PEG ratio of 1.74 and a beta of 1.03. The company has a debt-to-equity ratio of 0.10, a current ratio of 2.43 and a quick ratio of 0.53.

Genesco (NYSE:GCO) last announced its quarterly earnings results on Friday, September 7th. The company reported $0.04 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.04) by $0.08. Genesco had a negative net margin of 3.77% and a positive return on equity of 7.53%. The company had revenue of $653.90 million during the quarter, compared to analyst estimates of $641.07 million. During the same quarter in the previous year, the business earned ($0.10) EPS. The firm’s revenue was up 6.1% on a year-over-year basis. Equities analysts expect that Genesco Inc. will post 3.2 EPS for the current fiscal year.

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About Genesco

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.

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Institutional Ownership by Quarter for Genesco (NYSE:GCO)

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