Nuveen Asset Management LLC Sells 1,246 Shares of Genesco Inc. (NYSE:GCO)

Nuveen Asset Management LLC trimmed its holdings in shares of Genesco Inc. (NYSE:GCO) by 3.4% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 35,479 shares of the company’s stock after selling 1,246 shares during the period. Nuveen Asset Management LLC’s holdings in Genesco were worth $1,517,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of GCO. Rhumbline Advisers raised its holdings in shares of Genesco by 1.5% in the 4th quarter. Rhumbline Advisers now owns 19,146 shares of the company’s stock valued at $818,000 after purchasing an additional 281 shares during the period. Price T Rowe Associates Inc. MD raised its holdings in Genesco by 4.7% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 14,392 shares of the company’s stock valued at $616,000 after acquiring an additional 650 shares during the period. Wells Fargo & Company MN raised its holdings in Genesco by 28.1% in the 4th quarter. Wells Fargo & Company MN now owns 5,846 shares of the company’s stock valued at $250,000 after acquiring an additional 1,281 shares during the period. Barclays PLC grew its position in shares of Genesco by 7.2% during the 4th quarter. Barclays PLC now owns 22,228 shares of the company’s stock worth $950,000 after purchasing an additional 1,498 shares in the last quarter. Finally, Northern Trust Corp grew its position in shares of Genesco by 1.9% during the 4th quarter. Northern Trust Corp now owns 111,992 shares of the company’s stock worth $4,788,000 after purchasing an additional 2,065 shares in the last quarter. 94.51% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on GCO shares. Jefferies Financial Group restated a “hold” rating and set a $24.00 target price (down previously from $27.00) on shares of Genesco in a research report on Wednesday, May 21st. Truist Financial assumed coverage on shares of Genesco in a research note on Wednesday, May 28th. They issued a “hold” rating and a $23.00 price objective for the company. Finally, Wall Street Zen downgraded shares of Genesco from a “buy” rating to a “hold” rating in a research note on Friday, May 30th.

Genesco Trading Up 5.3%

GCO opened at $22.45 on Wednesday. Genesco Inc. has a twelve month low of $16.19 and a twelve month high of $44.80. The company has a quick ratio of 0.32, a current ratio of 1.56 and a debt-to-equity ratio of 0.19. The company has a fifty day moving average of $20.56 and a 200-day moving average of $31.00. The stock has a market cap of $242.00 million, a PE ratio of -9.24 and a beta of 2.14.

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

Insiders Place Their Bets

In related news, major shareholder Fund 1 Investments, Llc sold 12,000 shares of the firm’s stock in a transaction dated Friday, March 28th. The shares were sold at an average price of $20.73, for a total transaction of $248,760.00. Following the transaction, the insider now directly 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Gregory A. Sandfort purchased 10,974 shares of the company’s stock in a transaction that occurred on Thursday, March 20th. The shares were purchased at an average cost of $22.92 per share, for a total transaction of $251,524.08. Following the completion of the transaction, the director now directly owns 26,754 shares of the company’s stock, 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. Corporate insiders own 23.11% of the company’s stock.

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.