State of Alaska Department of Revenue cut its position in Genesco Inc. (NYSE:GCO – Get Rating) by 5.0% in the 1st quarter, Holdings Channel.com reports. The firm owned 9,551 shares of the company’s stock after selling 505 shares during the quarter. State of Alaska Department of Revenue’s holdings in Genesco were worth $607,000 as of its most recent SEC filing.
Several other hedge funds have also recently made changes to their positions in the company. Pacer Advisors Inc. boosted its stake in shares of Genesco by 16.4% in the first quarter. Pacer Advisors Inc. now owns 120,029 shares of the company’s stock valued at $7,635,000 after purchasing an additional 16,883 shares during the period. Principal Financial Group Inc. boosted its stake in shares of Genesco by 7.0% in the fourth quarter. Principal Financial Group Inc. now owns 102,729 shares of the company’s stock valued at $6,592,000 after purchasing an additional 6,737 shares during the period. American Century Companies Inc. boosted its stake in shares of Genesco by 93.2% in the fourth quarter. American Century Companies Inc. now owns 53,539 shares of the company’s stock valued at $3,436,000 after purchasing an additional 25,831 shares during the period. Hussman Strategic Advisors Inc. boosted its stake in shares of Genesco by 67.7% in the fourth quarter. Hussman Strategic Advisors Inc. now owns 41,600 shares of the company’s stock valued at $2,669,000 after purchasing an additional 16,800 shares during the period. Finally, Quantedge Capital Pte Ltd bought a new position in Genesco during the 4th quarter valued at $2,297,000. Institutional investors and hedge funds own 93.60% of the company’s stock.
A number of research analysts have commented on GCO shares. TheStreet downgraded shares of Genesco from a “b” rating to a “c+” rating in a research note on Thursday, May 26th. StockNews.com started coverage on shares of Genesco in a research note on Thursday, March 31st. They set a “buy” rating on the stock. One equities research analyst has rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $69.50.
NYSE GCO opened at $50.14 on Friday. Genesco Inc. has a 12 month low of $48.54 and a 12 month high of $73.72. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.56 and a quick ratio of 0.70. The company has a market capitalization of $688.37 million, a price-to-earnings ratio of 6.44 and a beta of 1.89. The company’s fifty day moving average price is $56.29 and its two-hundred day moving average price is $62.01.
Genesco (NYSE:GCO – Get Rating) last issued its earnings results on Thursday, May 26th. The company reported $0.44 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.09) by $0.53. The company had revenue of $520.80 million for the quarter, compared to analysts’ expectations of $521.05 million. Genesco had a net margin of 4.61% and a return on equity of 17.62%. The firm’s revenue was down 3.3% compared to the same quarter last year. During the same period in the prior year, the company earned $0.79 earnings per share. As a group, analysts anticipate that Genesco Inc. will post 7.41 EPS for the current year.
About Genesco (Get Rating)
Genesco Inc operates as a retailer and wholesaler of footwear, apparel, and accessories. The company operates through four segments: Journeys Group, Schuh Group, Johnston & Murphy Group, and Licensed Brands. The Journeys Group segment offers footwear and accessories through the Journeys, Journeys Kidz, and Little Burgundy retail chains, as well as through e-commerce and catalogs for young men, women, and children.
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