Genesco Inc. (NYSE:GCO) Shares Bought by Northern Trust Corp

Northern Trust Corp lifted its stake in shares of Genesco Inc. (NYSE:GCO) by 1.9% in the 4th quarter, HoldingsChannel.com reports. The fund owned 111,992 shares of the company’s stock after acquiring an additional 2,065 shares during the quarter. Northern Trust Corp’s holdings in Genesco were worth $4,788,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of GCO. SG Americas Securities LLC acquired a new stake in shares of Genesco during the fourth quarter worth $111,000. Empowered Funds LLC increased its stake in Genesco by 5.0% in the 4th quarter. Empowered Funds LLC now owns 61,501 shares of the company’s stock worth $2,629,000 after purchasing an additional 2,953 shares in the last quarter. Rhumbline Advisers raised its holdings in Genesco by 1.5% during the 4th quarter. Rhumbline Advisers now owns 19,146 shares of the company’s stock worth $818,000 after buying an additional 281 shares during the period. Proficio Capital Partners LLC acquired a new stake in Genesco during the 4th quarter worth about $479,000. Finally, Versor Investments LP purchased a new stake in Genesco during the fourth quarter valued at about $543,000. 94.51% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. Jefferies Financial Group dropped their target price on shares of Genesco from $27.00 to $24.00 and set a “hold” rating on the stock in a research report on Wednesday. StockNews.com lowered shares of Genesco from a “buy” rating to a “hold” rating in a research note on Tuesday, April 15th.

Insider Activity

In other Genesco news, major shareholder Fund 1 Investments, Llc sold 12,000 shares of Genesco stock in a transaction on Friday, March 28th. The shares were sold at an average price of $20.73, for a total transaction of $248,760.00. Following the completion of the sale, the insider now owns 1,097,850 shares of the company’s stock, valued at $22,758,430.50. This trade represents a 1.08% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Gregory A. Sandfort purchased 10,974 shares of the stock in a transaction dated Thursday, March 20th. The shares were bought at an average price of $22.92 per share, for a total transaction of $251,524.08. Following the completion of the acquisition, the director now owns 26,754 shares in the company, valued at $613,201.68. This represents a 69.54% increase in their ownership of the stock. The disclosure for this purchase can be found here. 7.09% of the stock is owned by corporate insiders.

Genesco Price Performance

GCO opened at $21.14 on Thursday. The firm has a market capitalization of $227.84 million, a P/E ratio of -8.70 and a beta of 2.14. The stock has a fifty day moving average of $20.68 and a 200-day moving average of $31.47. The company has a quick ratio of 0.32, a current ratio of 1.56 and a debt-to-equity ratio of 0.19. Genesco Inc. has a 12-month low of $16.19 and a 12-month high of $44.80.

Genesco (NYSE:GCO) last posted its quarterly earnings results on Friday, March 7th. The company reported $3.26 earnings per share for the quarter, missing the consensus estimate of $3.31 by ($0.05). The business had revenue of $745.95 million for the quarter, compared to analyst estimates of $780.43 million. Genesco had a negative net margin of 1.13% and a positive return on equity of 0.56%. During the same period in the previous year, the firm posted $2.59 earnings per share. Equities analysts forecast that Genesco Inc. will post 0.94 EPS for the current fiscal year.

About Genesco

Genesco Inc operates as a retailer and wholesaler of footwear, apparel, and accessories in the United States, Puerto Rico, Canada, the United Kingdom, and the Republic of Ireland. The company operates through four segments: Journeys Group, Schuh Group, Johnston & Murphy Group, and Genesco Brands.