Goldman Sachs Group Inc. Boosts Stake in Genesco Inc. (GCO)
Goldman Sachs Group Inc. lifted its holdings in Genesco Inc. (NYSE:GCO) by 37.0% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 68,756 shares of the company’s stock after buying an additional 18,558 shares during the period. Goldman Sachs Group Inc. owned about 0.35% of Genesco worth $2,331,000 at the end of the most recent reporting period.
Other institutional investors have also bought and sold shares of the company. Envestnet Asset Management Inc. increased its holdings in shares of Genesco by 26.2% in the 1st quarter. Envestnet Asset Management Inc. now owns 2,347 shares of the company’s stock worth $130,000 after buying an additional 487 shares during the last quarter. PNC Financial Services Group Inc. increased its holdings in shares of Genesco by 44.0% in the 1st quarter. PNC Financial Services Group Inc. now owns 2,538 shares of the company’s stock worth $142,000 after buying an additional 775 shares during the last quarter. SG Americas Securities LLC increased its holdings in shares of Genesco by 25.1% in the 1st quarter. SG Americas Securities LLC now owns 2,815 shares of the company’s stock worth $156,000 after buying an additional 565 shares during the last quarter. Public Employees Retirement System of Ohio increased its holdings in shares of Genesco by 8.5% in the 1st quarter. Public Employees Retirement System of Ohio now owns 3,660 shares of the company’s stock worth $203,000 after buying an additional 287 shares during the last quarter. Finally, State of Alaska Department of Revenue increased its holdings in shares of Genesco by 77.8% in the 2nd quarter. State of Alaska Department of Revenue now owns 3,893 shares of the company’s stock worth $131,000 after buying an additional 1,703 shares during the last quarter. Hedge funds and other institutional investors own 94.27% of the company’s stock.
A number of research firms have recently weighed in on GCO. SunTrust Banks, Inc. set a $33.00 target price on shares of Genesco and gave the stock a “buy” rating in a report on Monday, October 16th. Jefferies Group LLC reiterated a “hold” rating and set a $27.00 price target on shares of Genesco in a report on Thursday, October 12th. ValuEngine upgraded shares of Genesco from a “hold” rating to a “buy” rating in a report on Monday, October 2nd. Piper Jaffray Companies reiterated a “buy” rating and set a $39.00 price target on shares of Genesco in a report on Sunday, October 1st. Finally, Morgan Stanley cut their price target on shares of Genesco from $38.00 to $28.00 and set an “equal weight” rating on the stock in a report on Wednesday, September 13th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and four have assigned a buy rating to the company. Genesco has a consensus rating of “Hold” and an average price target of $32.71.
Genesco Inc. (NYSE:GCO) opened at 24.30 on Tuesday. Genesco Inc. has a one year low of $20.90 and a one year high of $72.00. The company has a market capitalization of $484.03 million, a P/E ratio of 6.82 and a beta of 1.35. The company’s 50-day moving average is $25.48 and its 200 day moving average is $33.73.
Genesco (NYSE:GCO) last released its quarterly earnings data on Thursday, August 31st. The company reported ($0.10) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.06) by ($0.04). Genesco had a return on equity of 7.36% and a net margin of 2.43%. The firm had revenue of $616.50 million for the quarter, compared to analyst estimates of $626.93 million. During the same quarter in the previous year, the business posted $0.34 earnings per share. Genesco’s revenue for the quarter was down 1.5% on a year-over-year basis. On average, equities analysts anticipate that Genesco Inc. will post $3.38 earnings per share for the current year.
In related news, SVP Mimi Eckel Vaughn purchased 10,000 shares of the company’s stock in a transaction on Wednesday, September 6th. The stock was acquired at an average cost of $24.16 per share, for a total transaction of $241,600.00. Following the completion of the transaction, the senior vice president now directly owns 87,140 shares in the company, valued at $2,105,302.40. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Chairman Robert J. Dennis purchased 25,000 shares of the company’s stock in a transaction on Wednesday, September 6th. The shares were bought at an average price of $23.81 per share, with a total value of $595,250.00. Following the completion of the transaction, the chairman now owns 224,935 shares of the company’s stock, valued at $5,355,702.35. The disclosure for this purchase can be found here. 3.30% of the stock is currently owned by company insiders.
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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