Canada Pension Plan Investment Board raised its stake in Genesco Inc. (NYSE:GCO) by 21.7% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 193,500 shares of the company’s stock after buying an additional 34,500 shares during the period. Canada Pension Plan Investment Board owned 0.99% of Genesco worth $6,560,000 as of its most recent filing with the SEC.
Several other large investors have also modified their holdings of the company. BlackRock Inc. raised its stake in shares of Genesco by 45,756.3% in the first quarter. BlackRock Inc. now owns 2,482,203 shares of the company’s stock valued at $137,638,000 after buying an additional 2,476,790 shares during the period. Morgan Stanley raised its stake in shares of Genesco by 274.4% in the first quarter. Morgan Stanley now owns 289,338 shares of the company’s stock valued at $16,044,000 after buying an additional 212,064 shares during the period. Smith Graham & Co. Investment Advisors LP raised its stake in shares of Genesco by 103.8% in the second quarter. Smith Graham & Co. Investment Advisors LP now owns 311,396 shares of the company’s stock valued at $10,556,000 after buying an additional 158,630 shares during the period. Bank of New York Mellon Corp raised its stake in shares of Genesco by 48.5% in the first quarter. Bank of New York Mellon Corp now owns 449,520 shares of the company’s stock valued at $24,926,000 after buying an additional 146,748 shares during the period. Finally, Bank of Montreal Can raised its stake in shares of Genesco by 404.7% in the second quarter. Bank of Montreal Can now owns 159,899 shares of the company’s stock valued at $5,420,000 after buying an additional 128,220 shares during the period.
Genesco Inc. (GCO) opened at 23.90 on Monday. The stock has a market cap of $468.27 million, a P/E ratio of 5.37 and a beta of 1.24. The company’s 50-day moving average price is $31.04 and its 200-day moving average price is $45.66. Genesco Inc. has a 1-year low of $23.50 and a 1-year high of $74.21.
Genesco (NYSE:GCO) last announced its quarterly earnings results on Thursday, May 25th. The company reported $0.06 earnings per share for the quarter, missing analysts’ consensus estimates of $0.28 by $0.22. The company had revenue of $643.40 million for the quarter, compared to analyst estimates of $644.15 million. Genesco had a return on equity of 8.41% and a net margin of 3.07%. The firm’s revenue for the quarter was down .8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.62 earnings per share. Analysts predict that Genesco Inc. will post $3.89 EPS for the current year.
GCO has been the topic of several research analyst reports. Morgan Stanley reissued an “equal weight” rating and set a $38.00 target price (down previously from $59.00) on shares of Genesco in a research report on Thursday, June 1st. BidaskClub lowered Genesco from a “sell” rating to a “strong sell” rating in a research report on Monday, July 24th. Zacks Investment Research lowered Genesco from a “hold” rating to a “strong sell” rating in a research report on Thursday, June 1st. ValuEngine raised Genesco from a “hold” rating to a “buy” rating in a research report on Thursday, July 13th. Finally, Susquehanna Bancshares Inc raised Genesco from a “neutral” rating to a “positive” rating and set a $66.00 target price on the stock in a research report on Wednesday, April 26th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and six have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $48.29.
In related news, Director Kevin Patrick Mcdermott purchased 1,000 shares of the company’s stock in a transaction dated Thursday, July 6th. The shares were acquired at an average cost of $32.32 per share, for a total transaction of $32,320.00. Following the transaction, the director now owns 8,657 shares of the company’s stock, valued at $279,794.24. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. 3.30% of the stock is currently owned by corporate insiders.
Genesco Company 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.
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