Zurcher Kantonalbank Zurich Cantonalbank trimmed its holdings in shares of Genesco Inc. (NYSE:GCO) by 17.7% during the 1st quarter, Holdings Channel reports. The institutional investor owned 1,503 shares of the company’s stock after selling 324 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Genesco were worth $68,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Meeder Asset Management Inc. grew its stake in Genesco by 112.3% during the 4th quarter. Meeder Asset Management Inc. now owns 603 shares of the company’s stock worth $27,000 after buying an additional 319 shares during the last quarter. Oppenheimer Asset Management Inc. purchased a new stake in Genesco during the 4th quarter valued at about $48,000. PNC Financial Services Group Inc. grew its stake in Genesco by 24.4% during the 4th quarter. PNC Financial Services Group Inc. now owns 1,350 shares of the company’s stock valued at $60,000 after purchasing an additional 265 shares during the last quarter. Investors Research Corp purchased a new stake in Genesco during the 1st quarter valued at about $146,000. Finally, Municipal Employees Retirement System of Michigan purchased a new stake in Genesco during the 4th quarter valued at about $255,000. Hedge funds and other institutional investors own 94.82% of the company’s stock.

GCO traded down $3.13 on Wednesday, hitting $40.13. 4,779 shares of the company’s stock were exchanged, compared to its average volume of 247,287. The firm has a market cap of $742.33 million, a price-to-earnings ratio of 12.75, a price-to-earnings-growth ratio of 2.45 and a beta of 0.70. Genesco Inc. has a twelve month low of $37.00 and a twelve month high of $51.85. 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 (NYSE:GCO) last released its quarterly earnings data on Thursday, March 14th. The company reported $2.18 earnings per share for the quarter, missing the consensus estimate of $2.30 by ($0.12). Genesco had a positive return on equity of 7.52% and a negative net margin of 1.93%. The business had revenue of $675.50 million for the quarter, compared to analyst estimates of $914.85 million. During the same quarter last year, the company earned $2.15 EPS. Genesco’s revenue was down 2.0% compared to the same quarter last year. Research analysts anticipate that Genesco Inc. will post 3.5 earnings per share for the current year.

Genesco declared that its board has approved a stock repurchase program on Friday, May 3rd that permits the company to repurchase $100.00 million in shares. This repurchase authorization permits the company to reacquire up to 11.7% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s management believes its shares are undervalued.

Several analysts have recently issued reports on GCO shares. ValuEngine cut shares of Genesco from a “buy” rating to a “hold” rating in a research note on Friday, March 1st. Zacks Investment Research upgraded shares of Genesco from a “hold” rating to a “buy” rating and set a $52.00 price objective on the stock in a research note on Wednesday, February 20th. Seven equities research analysts have rated the stock with a hold rating, The company presently has a consensus rating of “Hold” and a consensus target price of $44.00.

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Genesco Company Profile

Genesco Inc operates as a retailer and wholesaler of footwear, apparel, and accessories. The company operates through four segments: Journeys Group, Schuh Group, Johnston & Murphy Group, and Licensed Brands. The Journeys Group segment offers footwear and accessories through the Journeys, Journeys Kidz, and Little Burgundy retail chains, as well as through e-commerce and catalogs for young men, women, and children.

See Also: Asset Allocation

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Institutional Ownership by Quarter for Genesco (NYSE:GCO)

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