Leonard L. Berry Acquires 2,000 Shares of Genesco Inc. (GCO) Stock
Genesco Inc. (NYSE:GCO) Director Leonard L. Berry acquired 2,000 shares of the company’s stock in a transaction that occurred on Friday, September 16th. The shares were acquired at an average price of $51.34 per share, with a total value of $102,680.00. Following the completion of the transaction, the director now owns 28,277 shares in the company, valued at $1,451,741.18. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.
Shares of Genesco Inc. (NYSE:GCO) opened at 51.90 on Thursday. Genesco Inc. has a 1-year low of $47.66 and a 1-year high of $74.21. The firm has a market cap of $1.07 billion, a PE ratio of 10.89 and a beta of 1.10. The company’s 50-day moving average price is $62.60 and its 200 day moving average price is $65.68.
Genesco (NYSE:GCO) last posted its earnings results on Thursday, September 1st. The company reported $0.34 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.27 by $0.07. Genesco had a return on equity of 10.65% and a net margin of 3.49%. The business earned $625.60 million during the quarter. During the same quarter in the previous year, the firm earned $0.36 earnings per share. Genesco’s quarterly revenue was down 4.6% compared to the same quarter last year. On average, analysts predict that Genesco Inc. will post $3.89 EPS for the current year.
A number of institutional investors have recently bought and sold shares of GCO. State Board of Administration of Florida Retirement System boosted its position in Genesco by 1.1% in the second quarter. State Board of Administration of Florida Retirement System now owns 10,058 shares of the company’s stock valued at $647,000 after buying an additional 107 shares during the last quarter. Suntrust Banks Inc. boosted its position in Genesco by 3.7% in the second quarter. Suntrust Banks Inc. now owns 4,187 shares of the company’s stock valued at $269,000 after buying an additional 151 shares during the last quarter. Teacher Retirement System of Texas boosted its position in Genesco by 6.1% in the second quarter. Teacher Retirement System of Texas now owns 3,113 shares of the company’s stock valued at $200,000 after buying an additional 178 shares during the last quarter. Public Employees Retirement System of Ohio raised its stake in shares of Genesco by 7.2% in the second quarter. Public Employees Retirement System of Ohio now owns 3,155 shares of the company’s stock valued at $203,000 after buying an additional 212 shares during the period. Finally, Arizona State Retirement System raised its stake in shares of Genesco by 2.7% in the first quarter. Arizona State Retirement System now owns 11,266 shares of the company’s stock valued at $814,000 after buying an additional 300 shares during the period. Institutional investors and hedge funds own 93.55% of the company’s stock.
Several equities analysts have commented on the company. TheStreet downgraded Genesco from a “buy” rating to a “hold” rating in a research report on Wednesday, September 14th. Susquehanna assumed coverage on Genesco in a research report on Thursday, September 15th. They issued a “positive” rating and a $57.00 target price for the company. B. Riley reiterated a “neutral” rating and issued a $56.00 target price on shares of Genesco in a research report on Sunday, September 4th. Zacks Investment Research downgraded Genesco from a “hold” rating to a “sell” rating in a research report on Friday, September 2nd. Finally, Robert W. Baird downgraded Genesco from an “outperform” rating to a “neutral” rating and dropped their target price for the company from $80.00 to $53.00 in a research report on Friday, September 2nd. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company. The company has an average rating of “Hold” and an average price target of $63.75.
Genesco Inc is a retailer and wholesaler of footwear, apparel and accessories. The Company operates in five segments: Journeys Group, Schuh Group, Lids Sports Group, Johnston & Murphy Group and Licensed Brands. Its Journeys Group segment includes Journeys, Journeys Kidz, Shi by Journeys, Little Burgundy and Underground by Journeys retail stores, catalog and e-commerce operations.
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