Wealthstreet Investment Advisors LLC raised its position in Genesco Inc. (NYSE:GCO) by 21.5% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 30,742 shares of the company’s stock after buying an additional 5,433 shares during the period. Wealthstreet Investment Advisors LLC owned 0.15% of Genesco worth $1,448,000 as of its most recent filing with the SEC.
A number of other large investors have also recently bought and sold shares of the business. USA Financial Portformulas Corp purchased a new stake in Genesco in the 3rd quarter valued at about $266,000. Robeco Institutional Asset Management B.V. purchased a new stake in Genesco in the 3rd quarter valued at about $222,000. Hussman Strategic Advisors Inc. purchased a new stake in Genesco in the 3rd quarter valued at about $4,710,000. Acadian Asset Management LLC purchased a new stake in Genesco in the 3rd quarter valued at about $301,000. Finally, James Investment Research Inc. purchased a new stake in Genesco in the 3rd quarter valued at about $2,087,000.
A number of research analysts have recently weighed in on the stock. Jefferies Financial Group downgraded shares of Genesco from a “buy” rating to a “hold” rating and set a $43.00 target price for the company. in a research report on Tuesday, July 10th. Zacks Investment Research raised shares of Genesco from a “sell” rating to a “hold” rating in a research report on Friday, August 24th. Macquarie increased their target price on shares of Genesco from $28.00 to $32.00 and gave the company a “hold” rating in a research report on Monday, September 10th. Pivotal Research set a $55.00 target price on shares of Genesco and gave the company a “buy” rating in a research report on Monday, September 10th. Finally, ValuEngine raised shares of Genesco from a “hold” rating to a “buy” rating in a research report on Tuesday, July 24th. Eight research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $39.88.
In related news, Director Kathleen Mason sold 500 shares of the firm’s stock in a transaction that occurred on Tuesday, September 4th. The shares were sold at an average price of $50.75, for a total value of $25,375.00. Following the completion of the transaction, the director now directly owns 43,126 shares of the company’s stock, valued at approximately $2,188,644.50. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 4.30% of the stock is currently owned by company insiders.
Genesco stock opened at $42.56 on Thursday. Genesco Inc. has a twelve month low of $23.25 and a twelve month high of $51.85. The company has a market cap of $903.83 million, a PE ratio of 13.55, a P/E/G ratio of 1.84 and a beta of 1.06. The company has a quick ratio of 0.53, a current ratio of 2.43 and a debt-to-equity ratio of 0.10.
Genesco (NYSE:GCO) last released its earnings results on Friday, September 7th. The company reported $0.04 earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.04) by $0.08. Genesco had a negative net margin of 3.77% and a positive return on equity of 7.53%. The firm had revenue of $653.90 million during the quarter, compared to the consensus estimate of $641.07 million. During the same period in the prior year, the firm earned ($0.10) EPS. The company’s revenue was up 6.1% compared to the same quarter last year. On average, equities analysts expect that Genesco Inc. will post 3.24 EPS for the current fiscal year.
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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