Mackay Shields LLC grew its position in Genesco Inc. (NYSE:GCO) by 10.9% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 95,300 shares of the company’s stock after buying an additional 9,400 shares during the quarter. Mackay Shields LLC owned approximately 0.48% of Genesco worth $3,783,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently made changes to their positions in the business. Piedmont Investment Advisors LLC acquired a new stake in shares of Genesco during the second quarter worth approximately $184,000. Pacific Ridge Capital Partners LLC acquired a new stake in shares of Genesco during the first quarter worth approximately $237,000. Jane Street Group LLC acquired a new stake in shares of Genesco during the first quarter worth approximately $239,000. Allianz Asset Management GmbH acquired a new stake in shares of Genesco during the first quarter worth approximately $241,000. Finally, Ancora Advisors LLC acquired a new stake in shares of Genesco during the first quarter worth approximately $279,000.
Several research firms recently commented on GCO. ValuEngine cut shares of Genesco from a “buy” rating to a “hold” rating in a report on Monday, July 2nd. CL King cut shares of Genesco from a “buy” rating to a “neutral” rating in a report on Tuesday, May 29th. They noted that the move was a valuation call. Zacks Investment Research cut shares of Genesco from a “buy” rating to a “hold” rating in a report on Thursday, June 7th. Piper Jaffray Companies cut shares of Genesco from an “overweight” rating to a “neutral” rating and decreased their price target for the stock from $45.90 to $20.90 in a report on Friday, June 1st. They noted that the move was a valuation call. Finally, Jefferies Financial Group cut shares of Genesco from a “buy” rating to a “hold” rating and set a $43.00 price target for the company. in a report on Tuesday, July 10th. One analyst has rated the stock with a sell rating, ten have issued a hold rating and two have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $37.88.
Shares of GCO opened at $45.40 on Tuesday. The company has a market cap of $870.29 million, a P/E ratio of 14.52, a price-to-earnings-growth ratio of 1.83 and a beta of 1.03. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.64 and a current ratio of 2.93. Genesco Inc. has a twelve month low of $20.90 and a twelve month high of $45.90.
Genesco (NYSE:GCO) last issued its quarterly earnings data on Tuesday, June 5th. The company reported ($0.06) earnings per share for the quarter, beating the consensus estimate of ($0.07) by $0.01. The firm had revenue of $645.00 million for the quarter, compared to analyst estimates of $636.37 million. Genesco had a negative net margin of 3.96% and a positive return on equity of 6.98%. The company’s revenue for the quarter was up .2% on a year-over-year basis. During the same quarter last year, the firm earned $0.05 earnings per share. analysts predict that Genesco Inc. will post 3.19 earnings per share for the current year.
Genesco Company Profile
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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