Aperio Group LLC Trims Stake in Genesco Inc. (GCO)

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Aperio Group LLC trimmed its position in Genesco Inc. (NYSE:GCO) by 7.6% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 65,438 shares of the company’s stock after selling 5,395 shares during the quarter. Aperio Group LLC’s holdings in Genesco were worth $3,082,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of GCO. Cahaba Wealth Management Inc. increased its stake in Genesco by 14.9% during the second quarter. Cahaba Wealth Management Inc. now owns 11,095 shares of the company’s stock worth $452,000 after acquiring an additional 1,442 shares during the last quarter. Legal & General Group Plc increased its stake in Genesco by 3.4% during the second quarter. Legal & General Group Plc now owns 68,849 shares of the company’s stock worth $2,748,000 after acquiring an additional 2,238 shares during the last quarter. State Board of Administration of Florida Retirement System increased its stake in Genesco by 25.4% during the second quarter. State Board of Administration of Florida Retirement System now owns 11,649 shares of the company’s stock worth $462,000 after acquiring an additional 2,363 shares during the last quarter. NumerixS Investment Technologies Inc bought a new stake in Genesco during the second quarter worth approximately $106,000. Finally, Pinebridge Investments L.P. increased its stake in Genesco by 8.5% during the second quarter. Pinebridge Investments L.P. now owns 37,975 shares of the company’s stock worth $1,508,000 after acquiring an additional 2,990 shares during the last quarter.

GCO opened at $45.76 on Tuesday. The company has a market cap of $901.40 million, a PE ratio of 14.57, a price-to-earnings-growth ratio of 1.84 and a beta of 1.07. Genesco Inc. has a one year low of $23.25 and a one year high of $51.85. The company has a current ratio of 2.43, a quick ratio of 0.53 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 EPS for the quarter, beating analysts’ consensus estimates of ($0.04) by $0.08. The firm had revenue of $653.90 million for the quarter, compared to analysts’ expectations of $641.07 million. Genesco had a positive return on equity of 7.53% and a negative net margin of 3.77%. The company’s quarterly revenue was up 6.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.10) earnings per share. As a group, equities research analysts predict that Genesco Inc. will post 3.24 earnings per share for the current year.

GCO has been the topic of several analyst reports. ValuEngine raised Genesco from a “hold” rating to a “buy” rating in a research note on Tuesday, July 24th. Pivotal Research raised Genesco from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $44.00 to $54.00 in a research note on Thursday, August 30th. Zacks Investment Research raised Genesco from a “sell” rating to a “hold” rating and set a $53.00 price objective on the stock in a research note on Tuesday, September 11th. Macquarie boosted their price objective on Genesco from $28.00 to $32.00 and gave the stock a “hold” rating in a research note on Monday, September 10th. Finally, Jefferies Financial Group cut Genesco from a “buy” rating to a “hold” rating and set a $43.00 price objective on the stock. in a research note on Tuesday, July 10th. Eight research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Genesco has an average rating of “Hold” and a consensus price target of $39.88.

In other news, Director Kathleen Mason sold 500 shares of the company’s stock in a transaction that occurred on Tuesday, September 4th. The stock was sold at an average price of $50.75, for a total transaction of $25,375.00. Following the transaction, the director now owns 43,126 shares of the company’s stock, valued at $2,188,644.50. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 4.30% of the company’s stock.

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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.

Further Reading: Penny Stocks, Risk and Reward Factors

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Institutional Ownership by Quarter for Genesco (NYSE:GCO)

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