Thrivent Financial For Lutherans Acquires 510 Shares of Genesco Inc. (GCO)
Thrivent Financial For Lutherans lifted its holdings in Genesco Inc. (NYSE:GCO) by 4.5% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 11,810 shares of the company’s stock after purchasing an additional 510 shares during the period. Thrivent Financial For Lutherans owned about 0.06% of Genesco worth $400,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also made changes to their positions in the company. BlackRock Inc. grew its stake in shares of Genesco by 45,756.3% in the 1st quarter. BlackRock Inc. now owns 2,482,203 shares of the company’s stock worth $137,638,000 after purchasing an additional 2,476,790 shares during the last quarter. Eagle Asset Management Inc. grew its stake in shares of Genesco by 9.4% in the 2nd quarter. Eagle Asset Management Inc. now owns 2,064,808 shares of the company’s stock worth $69,996,000 after purchasing an additional 177,335 shares during the last quarter. Vanguard Group Inc. grew its stake in shares of Genesco by 0.8% in the 1st quarter. Vanguard Group Inc. now owns 1,964,020 shares of the company’s stock worth $108,905,000 after purchasing an additional 15,003 shares during the last quarter. Victory Capital Management Inc. grew its stake in shares of Genesco by 59.2% in the 2nd quarter. Victory Capital Management Inc. now owns 647,015 shares of the company’s stock worth $21,934,000 after purchasing an additional 240,722 shares during the last quarter. Finally, State Street Corp grew its stake in shares of Genesco by 4.1% in the 1st quarter. State Street Corp now owns 576,694 shares of the company’s stock worth $31,978,000 after purchasing an additional 22,664 shares during the last quarter. 94.38% of the stock is currently owned by institutional investors.
In related news, SVP Mimi Eckel Vaughn purchased 10,000 shares of the stock in a transaction dated Wednesday, September 6th. The stock was bought at an average cost of $24.16 per share, with a total value of $241,600.00. Following the purchase, the senior vice president now directly owns 87,140 shares in the company, valued at approximately $2,105,302.40. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman Robert J. Dennis purchased 25,000 shares of the stock in a transaction dated Wednesday, September 6th. The stock was bought at an average cost of $23.81 per share, with a total value of $595,250.00. Following the completion of the purchase, the chairman now owns 224,935 shares in the company, valued at $5,355,702.35. The disclosure for this purchase can be found here. Corporate insiders own 3.30% of the company’s stock.
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Genesco Inc. (NYSE:GCO) opened at 23.90 on Friday. The stock has a 50 day moving average of $25.07 and a 200 day moving average of $35.30. 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 $476.06 million, a P/E ratio of 6.71 and a beta of 1.36.
Genesco (NYSE:GCO) last announced its quarterly earnings results on Thursday, August 31st. The company reported ($0.10) EPS for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.04). The company had revenue of $616.50 million during the quarter, compared to the consensus estimate of $626.93 million. Genesco had a net margin of 2.43% and a return on equity of 7.36%. The business’s revenue was down 1.5% compared to the same quarter last year. During the same period last year, the company earned $0.34 earnings per share. On average, equities research analysts forecast that Genesco Inc. will post $3.38 EPS for the current year.
GCO has been the topic of several recent research reports. Piper Jaffray Companies reaffirmed a “buy” rating and issued a $39.00 price objective on shares of Genesco in a research note on Sunday, October 1st. Zacks Investment Research cut shares of Genesco from a “hold” rating to a “sell” rating in a research note on Wednesday, August 23rd. Jefferies Group LLC reaffirmed a “hold” rating and issued a $27.00 price objective on shares of Genesco in a research note on Thursday, August 31st. BidaskClub cut shares of Genesco from a “sell” rating to a “strong sell” rating in a research note on Monday, August 14th. Finally, Morgan Stanley lowered their price objective on shares of Genesco from $38.00 to $28.00 and set an “equal weight” rating on the stock in a research note on Wednesday, September 13th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and four have given a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $32.71.
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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