Genesco Inc. (GCO) Shares Bought by Eagle Asset Management Inc.
Eagle Asset Management Inc. raised its stake in Genesco Inc. (NYSE:GCO) by 9.4% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 2,064,808 shares of the company’s stock after buying an additional 177,335 shares during the period. Eagle Asset Management Inc. owned about 10.54% of Genesco worth $69,996,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also modified their holdings of GCO. Quantbot Technologies LP acquired a new position in shares of Genesco during the first quarter valued at approximately $105,000. Envestnet Asset Management Inc. increased its position in shares of Genesco by 26.2% in the first quarter. Envestnet Asset Management Inc. now owns 2,347 shares of the company’s stock valued at $130,000 after buying an additional 487 shares during the last quarter. State of Alaska Department of Revenue increased its position in shares of Genesco by 77.8% in the second quarter. State of Alaska Department of Revenue now owns 3,893 shares of the company’s stock valued at $131,000 after buying an additional 1,703 shares during the last quarter. PNC Financial Services Group Inc. increased its position in shares of Genesco by 44.0% in the first quarter. PNC Financial Services Group Inc. now owns 2,538 shares of the company’s stock valued at $142,000 after buying an additional 775 shares during the last quarter. Finally, First Quadrant L P CA acquired a new position in shares of Genesco during the second quarter valued at approximately $153,000. 95.93% of the stock is owned by hedge funds and other institutional investors.
Genesco Inc. (NYSE:GCO) opened at 21.15 on Friday. Genesco Inc. has a 1-year low of $20.90 and a 1-year high of $73.45. The firm has a market cap of $414.39 million, a P/E ratio of 4.75 and a beta of 1.24. The stock has a 50 day moving average price of $29.08 and a 200 day moving average price of $43.38.
Genesco (NYSE:GCO) last released its earnings results on Thursday, August 31st. The company reported ($0.10) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.06) by $0.04. The firm had revenue of $616.50 million during the quarter, compared to the consensus estimate of $626.93 million. Genesco had a return on equity of 8.41% and a net margin of 3.07%. The business’s quarterly revenue was down 1.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.34 EPS. On average, analysts anticipate that Genesco Inc. will post $3.61 EPS for the current year.
GCO has been the subject of several research analyst reports. B. Riley reissued a “buy” rating and set a $50.00 target price on shares of Genesco in a research note on Thursday, June 1st. ValuEngine raised Genesco from a “hold” rating to a “buy” rating in a research note on Thursday, July 13th. Piper Jaffray Companies set a $39.00 target price on Genesco and gave the stock a “buy” rating in a research note on Saturday, June 24th. Morgan Stanley reissued an “equal weight” rating and set a $38.00 target price (down previously from $59.00) on shares of Genesco in a research note on Thursday, June 1st. Finally, Jefferies Group LLC reissued a “hold” rating and set a $48.00 target price on shares of Genesco in a research note on Friday, July 14th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and four have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $43.29.
In other news, Director Kevin Patrick Mcdermott bought 1,000 shares of the company’s stock in a transaction that occurred on Thursday, July 6th. The stock was bought at an average price of $32.32 per share, for a total transaction of $32,320.00. Following the transaction, the director now directly owns 8,657 shares of the company’s stock, valued at approximately $279,794.24. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 3.30% of the company’s stock.
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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