Sterling Capital Management LLC purchased a new position in shares of Genesco Inc. (NYSE:GCO) in the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 21,998 shares of the company’s stock, valued at approximately $1,036,000. Sterling Capital Management LLC owned approximately 0.11% of Genesco as of its most recent filing with the SEC.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Wealthstreet Investment Advisors LLC increased its holdings in Genesco by 21.5% during the 3rd quarter. Wealthstreet Investment Advisors LLC now owns 30,742 shares of the company’s stock valued at $1,448,000 after purchasing an additional 5,433 shares in the last quarter. USA Financial Portformulas Corp acquired a new stake in Genesco during the 3rd quarter valued at $266,000. Robeco Institutional Asset Management B.V. acquired a new stake in Genesco during the 3rd quarter valued at $222,000. Hussman Strategic Advisors Inc. acquired a new stake in Genesco during the 3rd quarter valued at $4,710,000. Finally, Acadian Asset Management LLC acquired a new stake in Genesco during the 3rd quarter valued at $301,000.
GCO has been the subject of a number of recent analyst reports. Zacks Investment Research cut Genesco from a “buy” rating to a “hold” rating in a report on Wednesday. Pivotal Research set a $55.00 price target on Genesco and gave the company a “buy” rating in a report on Monday, September 10th. ValuEngine raised Genesco from a “hold” rating to a “buy” rating in a report on Tuesday, July 24th. Finally, Macquarie raised their price target on Genesco from $28.00 to $32.00 and gave the company a “hold” rating in a report on Monday, September 10th. Eight investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Genesco presently has a consensus rating of “Hold” and an average target price of $39.88.
GCO stock opened at $45.45 on Friday. Genesco Inc. has a fifty-two week low of $24.25 and a fifty-two week high of $51.85. The firm has a market cap of $914.13 million, a P/E ratio of 14.47, a price-to-earnings-growth ratio of 1.86 and a beta of 1.07. The company has a quick ratio of 0.53, a current ratio of 2.43 and a debt-to-equity ratio of 0.10.
Genesco (NYSE:GCO) last announced its quarterly earnings data on Friday, September 7th. The company reported $0.04 EPS for the quarter, beating the Zacks’ consensus estimate of ($0.04) by $0.08. The firm had revenue of $653.90 million for the quarter, compared to analyst estimates of $641.07 million. Genesco had a positive return on equity of 7.53% and a negative net margin of 3.77%. The business’s quarterly revenue was up 6.1% compared to the same quarter last year. During the same period last year, the company earned ($0.10) EPS. As a group, equities research analysts expect that Genesco Inc. will post 3.24 EPS for the current fiscal year.
In other Genesco news, Director Kathleen Mason sold 500 shares of the stock in a transaction on Tuesday, September 4th. The stock was sold at an average price of $50.75, for a total value of $25,375.00. Following the transaction, the director now directly owns 43,126 shares in the company, valued at approximately $2,188,644.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 4.30% of the stock is currently owned by company insiders.
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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