Bank of Montreal Can increased its stake in shares of Genesco Inc. (NYSE:GCO) by 31.4% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 40,054 shares of the company’s stock after buying an additional 9,572 shares during the quarter. Bank of Montreal Can owned 0.20% of Genesco worth $1,886,000 at the end of the most recent quarter.
A number of other institutional investors also recently made changes to their positions in the stock. BlackRock Inc. grew its holdings in Genesco by 7.4% during the second quarter. BlackRock Inc. now owns 2,727,007 shares of the company’s stock worth $108,263,000 after buying an additional 188,914 shares in the last quarter. Carillon Tower Advisers Inc. grew its holdings in Genesco by 1.3% during the second quarter. Carillon Tower Advisers Inc. now owns 1,321,749 shares of the company’s stock worth $52,473,000 after buying an additional 17,469 shares in the last quarter. Northern Trust Corp grew its stake in Genesco by 0.6% in the 2nd quarter. Northern Trust Corp now owns 588,711 shares of the company’s stock valued at $23,371,000 after purchasing an additional 3,329 shares during the period. Schwab Charles Investment Management Inc. grew its stake in Genesco by 13.8% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 443,762 shares of the company’s stock valued at $17,618,000 after purchasing an additional 53,854 shares during the period. Finally, Canada Pension Plan Investment Board grew its stake in Genesco by 41.1% in the 2nd quarter. Canada Pension Plan Investment Board now owns 212,000 shares of the company’s stock valued at $8,416,000 after purchasing an additional 61,800 shares during the period.
In other news, Director Kathleen Mason sold 2,000 shares of the company’s stock in a transaction on Thursday, August 30th. The stock was sold at an average price of $48.91, for a total transaction of $97,820.00. Following the transaction, the director now owns 43,626 shares of the company’s stock, valued at approximately $2,133,747.66. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 4.30% of the stock is owned by corporate insiders.
Genesco (NYSE:GCO) last announced its quarterly earnings data on Friday, September 7th. The company reported $0.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.04) by $0.08. Genesco had a positive return on equity of 7.53% and a negative net margin of 3.77%. The firm had revenue of $653.90 million during the quarter, compared to the consensus estimate of $641.07 million. During the same quarter in the prior year, the company earned ($0.10) EPS. The business’s revenue for the quarter was up 6.1% on a year-over-year basis. On average, equities analysts forecast that Genesco Inc. will post 3.24 EPS for the current fiscal year.
A number of research analysts have issued reports on the company. Zacks Investment Research upgraded Genesco from a “sell” rating to a “hold” rating in a research note on Friday, August 24th. Macquarie upped their price objective on Genesco from $28.00 to $32.00 and gave the company a “hold” rating in a research note on Monday, September 10th. Pivotal Research set a $55.00 price objective on Genesco and gave the company a “buy” rating in a research note on Monday, September 10th. Finally, ValuEngine upgraded Genesco from a “hold” rating to a “buy” rating in a research note on Tuesday, July 24th. Eight analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $39.88.
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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