Piedmont Investment Advisors LLC Takes Position in Genesco Inc. (GCO)
Piedmont Investment Advisors LLC bought a new stake in shares of Genesco Inc. (NYSE:GCO) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 4,633 shares of the company’s stock, valued at approximately $184,000.
Other institutional investors and hedge funds have also modified their holdings of the company. Legion Partners Asset Management LLC raised its stake in Genesco by 25.4% during the 1st quarter. Legion Partners Asset Management LLC now owns 1,033,534 shares of the company’s stock valued at $41,961,000 after purchasing an additional 209,617 shares during the period. Prudential Financial Inc. grew its holdings in Genesco by 50.3% during the 1st quarter. Prudential Financial Inc. now owns 544,941 shares of the company’s stock valued at $22,125,000 after buying an additional 182,400 shares in the last quarter. Jane Street Group LLC purchased a new position in Genesco during the 1st quarter valued at approximately $239,000. Unison Advisors LLC purchased a new position in Genesco during the 2nd quarter valued at approximately $282,000. Finally, Guggenheim Capital LLC grew its holdings in Genesco by 28.4% during the 4th quarter. Guggenheim Capital LLC now owns 55,964 shares of the company’s stock valued at $1,820,000 after buying an additional 12,378 shares in the last quarter.
GCO has been the subject of several research analyst reports. ValuEngine upgraded Genesco from a “hold” rating to a “buy” rating in a report on Thursday, June 21st. Zacks Investment Research cut Genesco from a “buy” rating to a “hold” rating in a report on Thursday, June 7th. Piper Jaffray Companies cut Genesco from an “overweight” rating to a “neutral” rating and cut their price target for the company from $45.90 to $20.90 in a report on Friday, June 1st. They noted that the move was a valuation call. CL King cut Genesco from a “buy” rating to a “neutral” rating in a report on Tuesday, May 29th. They noted that the move was a valuation call. Finally, Pivotal Research set a $44.00 price target on Genesco and gave the company a “hold” rating in a report on Monday, June 4th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and two have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $37.88.
Genesco (NYSE:GCO) last announced its earnings results on Tuesday, June 5th. The company reported ($0.06) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.07) by $0.01. The firm had revenue of $645.00 million during the quarter, compared to analysts’ expectations of $636.37 million. Genesco had a positive return on equity of 6.98% and a negative net margin of 3.96%. The company’s quarterly revenue was up .2% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.05 EPS. research analysts forecast that Genesco Inc. will post 3.19 EPS for the current fiscal year.
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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