Genesco Inc. (GCO) Stake Lessened by Dimensional Fund Advisors LP
Dimensional Fund Advisors LP lowered its position in shares of Genesco Inc. (NYSE:GCO) by 0.8% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,728,735 shares of the company’s stock after selling 13,065 shares during the period. Dimensional Fund Advisors LP owned approximately 8.82% of Genesco worth $58,605,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds and other institutional investors have also recently made changes to their positions in GCO. Envestnet Asset Management Inc. increased its holdings in shares of Genesco by 26.2% during the 1st quarter. Envestnet Asset Management Inc. now owns 2,347 shares of the company’s stock worth $130,000 after buying an additional 487 shares during the last quarter. State of Alaska Department of Revenue increased its holdings in shares of Genesco by 77.8% during the 2nd quarter. State of Alaska Department of Revenue now owns 3,893 shares of the company’s stock worth $131,000 after buying an additional 1,703 shares during the last quarter. PNC Financial Services Group Inc. increased its holdings in shares of Genesco by 44.0% during the 1st quarter. PNC Financial Services Group Inc. now owns 2,538 shares of the company’s stock worth $142,000 after buying an additional 775 shares during the last quarter. First Quadrant L P CA acquired a new stake in shares of Genesco during the 2nd quarter worth approximately $153,000. Finally, SG Americas Securities LLC increased its holdings in shares of Genesco by 25.1% during the 1st quarter. SG Americas Securities LLC now owns 2,815 shares of the company’s stock worth $156,000 after buying an additional 565 shares during the last quarter. Institutional investors and hedge funds own 94.38% of the company’s stock.
Shares of Genesco Inc. (GCO) opened at 23.50 on Monday. Genesco Inc. has a 52-week low of $20.90 and a 52-week high of $72.00. The stock has a market capitalization of $468.10 million, a PE ratio of 6.60 and a beta of 1.35. The stock’s 50 day moving average is $25.30 and its 200 day moving average is $35.95.
Genesco (NYSE:GCO) last posted its quarterly earnings data on Thursday, August 31st. The company reported ($0.10) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.06) by ($0.04). Genesco had a net margin of 2.43% and a return on equity of 7.36%. The company had revenue of $616.50 million for the quarter, compared to the consensus estimate of $626.93 million. During the same quarter last year, the company earned $0.34 earnings per share. The company’s revenue was down 1.5% compared to the same quarter last year. Equities research analysts expect that Genesco Inc. will post $3.38 earnings per share for the current fiscal year.
In other Genesco news, SVP Mimi Eckel Vaughn purchased 10,000 shares of Genesco stock in a transaction dated Wednesday, September 6th. The shares were bought at an average cost of $24.16 per share, for a total transaction of $241,600.00. Following the transaction, the senior vice president now owns 87,140 shares in the company, valued at approximately $2,105,302.40. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Chairman Robert J. Dennis purchased 25,000 shares of Genesco stock in a transaction dated Wednesday, September 6th. The stock was acquired at an average price of $23.81 per share, for a total transaction of $595,250.00. Following the completion of the transaction, the chairman now owns 224,935 shares in the company, valued at approximately $5,355,702.35. The disclosure for this purchase can be found here. Corporate insiders own 3.30% of the company’s stock.
GCO has been the subject of a number of recent analyst reports. BidaskClub upgraded shares of Genesco from a “strong sell” rating to a “sell” rating in a report on Friday, August 25th. Morgan Stanley dropped their target price on shares of Genesco from $38.00 to $28.00 and set an “equal weight” rating for the company in a report on Wednesday, September 13th. Susquehanna Bancshares Inc reiterated a “neutral” rating and issued a $29.00 target price (down previously from $43.00) on shares of Genesco in a report on Monday, August 28th. Buckingham Research dropped their target price on shares of Genesco from $38.00 to $23.00 and set a “neutral” rating for the company in a report on Friday, September 1st. Finally, Jefferies Group LLC reiterated a “hold” rating and issued a $27.00 target price on shares of Genesco in a report on Thursday, August 31st. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and four have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $32.67.
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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