Genesco Inc. (NYSE:GCO) SVP Mimi Eckel Vaughn purchased 10,000 shares of Genesco stock in a transaction that occurred on Wednesday, September 6th. The stock was purchased at an average cost of $24.16 per share, for a total transaction of $241,600.00. Following the completion of the purchase, the senior vice president now owns 87,140 shares of the company’s stock, valued at $2,105,302.40. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.
Shares of Genesco Inc. (NYSE GCO) opened at 24.95 on Friday. The stock has a 50 day moving average price of $27.78 and a 200-day moving average price of $42.04. The stock has a market capitalization of $488.85 million, a PE ratio of 5.60 and a beta of 1.29. Genesco Inc. has a 1-year low of $20.90 and a 1-year high of $72.00.
Genesco (NYSE:GCO) last announced its quarterly earnings results on Thursday, August 31st. The company reported ($0.10) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.06) by $0.04. Genesco had a net margin of 2.43% and a return on equity of 7.36%. The company had revenue of $616.50 million during the quarter, compared to analysts’ expectations of $626.93 million. During the same quarter in the prior year, the business posted $0.34 earnings per share. The company’s revenue was down 1.5% compared to the same quarter last year. On average, analysts forecast that Genesco Inc. will post $3.37 earnings per share for the current year.
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Large investors have recently made changes to their positions in the company. Morgan Stanley increased its holdings in shares of Genesco by 274.4% in the 1st quarter. Morgan Stanley now owns 289,338 shares of the company’s stock valued at $16,044,000 after acquiring an additional 212,064 shares during the period. Vanguard Group Inc. increased its holdings in shares of Genesco by 0.8% in the 1st quarter. Vanguard Group Inc. now owns 1,964,020 shares of the company’s stock valued at $108,905,000 after acquiring an additional 15,003 shares during the period. Trexquant Investment LP purchased a new position in shares of Genesco in the 1st quarter valued at $1,663,000. Great West Life Assurance Co. Can increased its holdings in shares of Genesco by 2.3% in the 1st quarter. Great West Life Assurance Co. Can now owns 27,571 shares of the company’s stock valued at $1,525,000 after acquiring an additional 633 shares during the period. Finally, Ameriprise Financial Inc. increased its holdings in shares of Genesco by 13.2% in the 1st quarter. Ameriprise Financial Inc. now owns 527,988 shares of the company’s stock valued at $29,278,000 after acquiring an additional 61,626 shares during the period. Institutional investors and hedge funds own 95.93% of the company’s stock.
GCO has been the topic of several recent research reports. Zacks Investment Research cut Genesco from a “hold” rating to a “strong sell” rating in a research note on Thursday, June 1st. Jefferies Group LLC reaffirmed a “hold” rating and issued a $27.00 price target on shares of Genesco in a research note on Thursday, August 31st. BidaskClub cut Genesco from a “sell” rating to a “strong sell” rating in a research note on Monday, August 14th. Susquehanna Bancshares Inc reaffirmed a “neutral” rating and issued a $29.00 price target (down from $43.00) on shares of Genesco in a research note on Monday, August 28th. Finally, B. Riley reaffirmed a “buy” rating and issued a $50.00 price target on shares of Genesco in a research note on Saturday, May 27th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and three have issued a buy rating to the company’s stock. Genesco has an average rating of “Hold” and an average target price of $39.00.
Genesco Company Profile
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. It relies on independent third-party manufacturers for production of its footwear products sold at wholesale.
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