Dimensional Fund Advisors LP reduced its stake in Genesco Inc. (NYSE:GCO) by 0.1% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 1,636,454 shares of the company’s stock after selling 1,866 shares during the quarter. Dimensional Fund Advisors LP owned approximately 8.11% of Genesco worth $77,077,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. NumerixS Investment Technologies Inc bought a new position in Genesco in the 2nd quarter valued at $106,000. Robeco Institutional Asset Management B.V. bought a new position in Genesco in the 3rd quarter valued at $222,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS bought a new position in Genesco in the 3rd quarter valued at $224,000. Zeke Capital Advisors LLC bought a new position in Genesco in the 3rd quarter valued at $252,000. Finally, Rafferty Asset Management LLC bought a new position in Genesco in the 3rd quarter valued at $290,000.
GCO stock opened at $43.53 on Tuesday. The company has a quick ratio of 0.48, a current ratio of 2.26 and a debt-to-equity ratio of 0.09. The firm has a market cap of $866.87 million, a PE ratio of 13.86, a PEG ratio of 1.78 and a beta of 1.03. Genesco Inc. has a fifty-two week low of $30.81 and a fifty-two week high of $51.85.
Genesco (NYSE:GCO) last posted its quarterly earnings results on Thursday, December 6th. The company reported $0.95 earnings per share for the quarter, topping the consensus estimate of $0.86 by $0.09. The company had revenue of $713.10 million during the quarter, compared to the consensus estimate of $712.06 million. Genesco had a return on equity of 7.21% and a net margin of 2.31%. The firm’s quarterly revenue was down .5% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.02 EPS. On average, equities analysts forecast that Genesco Inc. will post 3.22 EPS for the current year.
Genesco declared that its board has authorized a stock repurchase program on Friday, December 14th that permits the company to buyback $125.00 million in shares. This buyback authorization permits the company to reacquire up to 14.7% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s board believes its shares are undervalued.
A number of research analysts have issued reports on GCO shares. Pivotal Research upgraded Genesco from a “hold” rating to a “buy” rating and upped their price objective for the company from $44.00 to $54.00 in a research note on Thursday, August 30th. Zacks Investment Research downgraded Genesco from a “buy” rating to a “hold” rating in a research note on Wednesday, November 7th. ValuEngine downgraded Genesco from a “buy” rating to a “hold” rating in a research note on Wednesday, November 21st. Macquarie upped their price objective on Genesco from $28.00 to $32.00 and gave the company a “hold” rating in a research note on Monday, September 10th. Finally, Piper Jaffray Companies set a $41.00 price objective on Genesco and gave the company a “hold” rating in a research note on Friday, November 30th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and three have given a buy rating to the company. Genesco currently has an average rating of “Hold” and a consensus target price of $41.78.
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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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