Bank of New York Mellon Corp cut its holdings in shares of Genesco Inc. (NYSE:GCO) by 7.0% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 365,937 shares of the company’s stock after selling 27,419 shares during the period. Bank of New York Mellon Corp owned about 1.84% of Genesco worth $9,735,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in GCO. Municipal Employees Retirement System of Michigan lifted its stake in shares of Genesco by 32.6% in the 3rd quarter. Municipal Employees Retirement System of Michigan now owns 10,780 shares of the company’s stock valued at $287,000 after acquiring an additional 2,650 shares during the last quarter. BNP Paribas Arbitrage SA lifted its stake in shares of Genesco by 31.1% in the 3rd quarter. BNP Paribas Arbitrage SA now owns 14,158 shares of the company’s stock valued at $377,000 after acquiring an additional 3,358 shares during the last quarter. Prudential Financial Inc. lifted its stake in shares of Genesco by 38.7% in the 3rd quarter. Prudential Financial Inc. now owns 332,807 shares of the company’s stock valued at $8,852,000 after acquiring an additional 92,940 shares during the last quarter. Palisade Capital Management LLC NJ lifted its stake in shares of Genesco by 1.9% in the 3rd quarter. Palisade Capital Management LLC NJ now owns 147,118 shares of the company’s stock valued at $3,913,000 after acquiring an additional 2,715 shares during the last quarter. Finally, Canada Pension Plan Investment Board lifted its stake in shares of Genesco by 17.3% in the 3rd quarter. Canada Pension Plan Investment Board now owns 226,900 shares of the company’s stock valued at $6,036,000 after acquiring an additional 33,400 shares during the last quarter. Hedge funds and other institutional investors own 97.65% of the company’s stock.

A number of research analysts have recently commented on the company. Piper Jaffray Companies set a $35.00 price target on Genesco and gave the company a “buy” rating in a research note on Wednesday, November 29th. Buckingham Research increased their price target on Genesco from $23.00 to $30.00 and gave the company a “neutral” rating in a research note on Monday, November 20th. Susquehanna Bancshares reaffirmed a “hold” rating and set a $30.00 target price on shares of Genesco in a research report on Tuesday, November 28th. Zacks Investment Research lowered Genesco from a “hold” rating to a “sell” rating in a research report on Tuesday, December 5th. Finally, UBS Group lowered Genesco from a “positive” rating to a “neutral” rating in a research report on Monday, August 28th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and four have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $33.29.

Genesco Inc. (GCO) opened at $32.65 on Tuesday. The stock has a market capitalization of $650.17, a price-to-earnings ratio of -5.16, a P/E/G ratio of 1.12 and a beta of 1.38. The company has a current ratio of 2.31, a quick ratio of 0.47 and a debt-to-equity ratio of 0.29. Genesco Inc. has a 12-month low of $20.90 and a 12-month high of $65.70.

Genesco (NYSE:GCO) last announced its earnings results on Friday, December 1st. The company reported $1.02 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.12 by ($0.10). The company had revenue of $716.80 million for the quarter, compared to the consensus estimate of $706.58 million. Genesco had a positive return on equity of 6.93% and a negative net margin of 4.24%. The firm’s revenue for the quarter was up .8% on a year-over-year basis. During the same period in the prior year, the business earned $1.28 earnings per share. equities research analysts anticipate that Genesco Inc. will post 3.07 earnings per share for the current year.

ILLEGAL ACTIVITY WARNING: This story was first published by TheOlympiaReport and is owned by of TheOlympiaReport. If you are reading this story on another site, it was illegally copied and reposted in violation of U.S. & international copyright law. The correct version of this story can be read at https://theolympiareport.com/2017/12/26/genesco-inc-gco-holdings-trimmed-by-bank-of-new-york-mellon-corp.html.

Genesco Profile

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.

Want to see what other hedge funds are holding GCO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Genesco Inc. (NYSE:GCO).

Institutional Ownership by Quarter for Genesco (NYSE:GCO)

Receive News & Ratings for Genesco Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Genesco and related companies with MarketBeat.com's FREE daily email newsletter.