Genesco Inc. (NYSE:GCO) saw a significant decrease in short interest in June. As of June 30th, there was short interest totalling 3,081,400 shares, a decrease of 8.2% from the May 30th total of 3,356,600 shares. Based on an average trading volume of 309,700 shares, the days-to-cover ratio is currently 9.9 days. Currently, 16.1% of the company’s shares are short sold.
Shares of NYSE GCO traded down $0.44 during trading on Monday, reaching $42.43. The company had a trading volume of 173,798 shares, compared to its average volume of 315,509. Genesco has a 12-month low of $37.51 and a 12-month high of $51.85. The stock has a market cap of $708.83 million, a PE ratio of 12.94, a PEG ratio of 2.34 and a beta of 0.55. The business’s 50-day moving average is $43.42. The company has a debt-to-equity ratio of 1.13, a quick ratio of 0.64 and a current ratio of 1.65.
Genesco (NYSE:GCO) last released its quarterly earnings data on Friday, May 31st. The company reported $0.33 EPS for the quarter, beating the consensus estimate of $0.04 by $0.29. Genesco had a positive return on equity of 8.85% and a negative net margin of 1.70%. The company had revenue of $495.70 million for the quarter, compared to analysts’ expectations of $479.36 million. During the same period last year, the firm posted ($0.06) earnings per share. Genesco’s revenue was up 2.0% compared to the same quarter last year. Research analysts forecast that Genesco will post 3.66 EPS for the current year.
Genesco declared that its board has authorized a share repurchase plan on Friday, May 3rd that permits the company to repurchase $100.00 million in outstanding shares. This repurchase authorization permits the company to reacquire up to 11.7% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s board believes its shares are undervalued.
Several equities research analysts recently weighed in on GCO shares. Zacks Investment Research raised Investar from a “hold” rating to a “buy” rating and set a $27.00 price target on the stock in a research note on Tuesday, June 4th. TheStreet cut Weis Markets from a “b-” rating to a “c+” rating in a research note on Wednesday, June 5th. Finally, Pivotal Research reaffirmed a “hold” rating and issued a $45.00 price target on shares of Genesco in a research note on Monday, June 3rd. Four research analysts have rated the stock with a hold rating and one has given a strong buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $42.50.
In related news, Director Thurgood Marshall, Jr. sold 1,690 shares of the company’s stock in a transaction that occurred on Friday, June 14th. The stock was sold at an average price of $44.57, for a total transaction of $75,323.30. Following the completion of the transaction, the director now owns 9,724 shares in the company, valued at $433,398.68. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 4.40% of the stock is owned by corporate insiders.
Hedge funds have recently bought and sold shares of the business. Barrow Hanley Mewhinney & Strauss LLC lifted its holdings in Genesco by 24.1% in the fourth quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 84,636 shares of the company’s stock valued at $3,749,000 after acquiring an additional 16,460 shares during the period. Alpha Windward LLC bought a new position in Genesco in the first quarter valued at about $470,000. Hancock Whitney Corp bought a new position in shares of Genesco in the fourth quarter worth about $979,000. Northern Trust Corp raised its stake in shares of Genesco by 0.6% in the fourth quarter. Northern Trust Corp now owns 572,631 shares of the company’s stock worth $25,368,000 after buying an additional 3,444 shares during the period. Finally, Brandywine Global Investment Management LLC raised its stake in shares of Genesco by 54.2% in the fourth quarter. Brandywine Global Investment Management LLC now owns 69,385 shares of the company’s stock worth $3,074,000 after buying an additional 24,399 shares during the period. 94.82% of the stock is currently owned by institutional investors.
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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