Bank of America Corp DE cut its position in shares of Genesco Inc. (NYSE:GCO) by 28.7% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 175,261 shares of the company’s stock after selling 70,607 shares during the quarter. Bank of America Corp DE’s holdings in Genesco were worth $7,763,000 at the end of the most recent quarter.
A number of other large investors have also recently made changes to their positions in the business. Principal Financial Group Inc. increased its stake in Genesco by 2.0% during the fourth quarter. Principal Financial Group Inc. now owns 163,939 shares of the company’s stock worth $7,262,000 after acquiring an additional 3,137 shares during the last quarter. Stone Ridge Asset Management LLC grew its stake in shares of Genesco by 24.5% in the fourth quarter. Stone Ridge Asset Management LLC now owns 25,738 shares of the company’s stock valued at $1,140,000 after buying an additional 5,067 shares in the last quarter. Brandywine Global Investment Management LLC grew 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 valued at $3,074,000 after buying an additional 24,399 shares in the last quarter. Menta Capital LLC acquired a new stake in shares of Genesco in the fourth quarter valued at about $316,000. Finally, Foresters Investment Management Company Inc. grew its stake in shares of Genesco by 0.8% in the fourth quarter. Foresters Investment Management Company Inc. now owns 124,900 shares of the company’s stock valued at $5,533,000 after buying an additional 1,000 shares in the last quarter.
In other Genesco news, Director Marty G. Dickens sold 5,000 shares of the firm’s stock in a transaction that occurred on Tuesday, January 29th. The stock was sold at an average price of $49.50, for a total transaction of $247,500.00. Following the completion of the sale, the director now owns 18,578 shares in the company, valued at approximately $919,611. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Robert J. Dennis sold 11,380 shares of the firm’s stock in a transaction that occurred on Wednesday, January 23rd. The shares were sold at an average price of $47.14, for a total value of $536,453.20. Following the sale, the chief executive officer now owns 261,361 shares of the company’s stock, valued at approximately $12,320,557.54. The disclosure for this sale can be found here. 4.30% of the stock is owned by company insiders.
GCO stock opened at $43.89 on Wednesday. The company has a quick ratio of 1.32, a current ratio of 2.65 and a debt-to-equity ratio of 0.08. Genesco Inc. has a 1 year low of $37.00 and a 1 year high of $51.85. The stock has a market capitalization of $793.27 million, a PE ratio of 13.38, a P/E/G ratio of 2.49 and a beta of 0.72.
Genesco (NYSE:GCO) last posted its earnings results on Thursday, March 14th. The company reported $2.18 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.30 by ($0.12). Genesco had a negative net margin of 1.93% and a positive return on equity of 7.52%. The company had revenue of $675.50 million during the quarter, compared to analyst estimates of $914.85 million. During the same quarter last year, the business posted $2.15 EPS. Genesco’s quarterly revenue was down 2.0% compared to the same quarter last year. Equities analysts predict that Genesco Inc. will post 3.5 earnings per share for the current year.
A number of equities research analysts have recently issued reports on GCO shares. Zacks Investment Research lowered Genesco from a “buy” rating to a “hold” rating in a research note on Friday, February 15th. Pivotal Research lowered Genesco from a “buy” rating to a “hold” rating and set a $52.00 target price for the company. in a research note on Wednesday, January 9th. They noted that the move was a valuation call. ValuEngine lowered Genesco from a “buy” rating to a “hold” rating in a research note on Friday, March 1st. Finally, TheStreet upgraded Genesco from a “c+” rating to a “b” rating in a research note on Tuesday, January 8th. One equities research analyst has rated the stock with a sell rating and six have issued a hold rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $44.00.
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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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