Comerica Bank decreased its stake in Genesco Inc. (NYSE:GCO) by 18.3% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 16,356 shares of the company’s stock after selling 3,674 shares during the period. Comerica Bank owned approximately 0.10% of Genesco worth $658,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently modified their holdings of the company. NumerixS Investment Technologies Inc boosted its position in shares of Genesco by 500.0% in the first quarter. NumerixS Investment Technologies Inc now owns 3,600 shares of the company’s stock worth $164,000 after buying an additional 3,000 shares during the period. DekaBank Deutsche Girozentrale acquired a new position in shares of Genesco in the second quarter worth about $112,000. Rhumbline Advisers lifted its stake in shares of Genesco by 1.2% in the first quarter. Rhumbline Advisers now owns 59,366 shares of the company’s stock worth $2,704,000 after acquiring an additional 681 shares in the last quarter. Cambridge Investment Research Advisors Inc. lifted its stake in shares of Genesco by 18.9% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 15,769 shares of the company’s stock worth $718,000 after acquiring an additional 2,512 shares in the last quarter. Finally, Municipal Employees Retirement System of Michigan lifted its stake in shares of Genesco by 41.7% in the second quarter. Municipal Employees Retirement System of Michigan now owns 8,330 shares of the company’s stock worth $352,000 after acquiring an additional 2,450 shares in the last quarter. 94.82% of the stock is owned by institutional investors.
Several analysts have issued reports on the company. Zacks Investment Research upgraded Genesco from a “hold” rating to a “strong-buy” rating and set a $47.00 price objective on the stock in a research note on Tuesday. Susquehanna Bancshares set a $48.00 price objective on Genesco and gave the company a “buy” rating in a research note on Friday, September 6th. Pivotal Research upgraded Genesco from a “hold” rating to a “buy” rating and upped their price objective for the company from $40.00 to $48.00 in a research note on Monday. ValuEngine cut Genesco from a “hold” rating to a “sell” rating in a research note on Friday, July 19th. Finally, TheStreet cut Genesco from a “b” rating to a “c+” rating in a research note on Wednesday, June 5th. One analyst has rated the stock with a sell rating, one has given a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company’s stock. Genesco currently has an average rating of “Buy” and an average price target of $46.00.
Shares of Genesco stock traded down $0.12 on Friday, reaching $42.92. 348,914 shares of the company were exchanged, compared to its average volume of 452,463. The company has a debt-to-equity ratio of 1.25, a quick ratio of 0.32 and a current ratio of 1.43. The company’s 50-day moving average is $36.45 and its two-hundred day moving average is $42.12. The firm has a market cap of $705.52 million, a price-to-earnings ratio of 13.09, a P/E/G ratio of 2.13 and a beta of 0.53. Genesco Inc. has a 1-year low of $31.65 and a 1-year high of $50.73.
Genesco (NYSE:GCO) last announced its quarterly earnings results on Friday, September 6th. The company reported $0.15 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.03) by $0.18. Genesco had a positive return on equity of 9.83% and a negative net margin of 1.80%. The business had revenue of $486.57 million for the quarter, compared to analysts’ expectations of $491.65 million. During the same period in the prior year, the firm earned $0.04 EPS. The business’s quarterly revenue was down .1% on a year-over-year basis. As a group, sell-side analysts forecast that Genesco Inc. will post 4.01 earnings per share for the current year.
In other Genesco news, VP Mario Gallione sold 2,049 shares of the stock in a transaction on Friday, July 19th. The stock was sold at an average price of $40.31, for a total transaction of $82,595.19. Following the completion of the transaction, the vice president now directly owns 36,309 shares of the company’s stock, valued at approximately $1,463,615.79. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 4.40% of the company’s stock.
Genesco Company Profile
Genesco Inc operates as a retailer and wholesaler of footwear, apparel, and accessories. The company operates through four segments: Journeys Group, Schuh Group, Johnston & Murphy Group, and Licensed Brands. The Journeys Group segment offers footwear and accessories through the Journeys, Journeys Kidz, and Little Burgundy retail chains, as well as through e-commerce and catalogs for young men, women, and children.
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