State Street Corp Purchases 6,587 Shares of Genesco Inc. (NYSE:GCO)

State Street Corp boosted its holdings in shares of Genesco Inc. (NYSE:GCO) by 2.1% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 320,691 shares of the company’s stock after buying an additional 6,587 shares during the period. State Street Corp owned approximately 2.86% of Genesco worth $8,713,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in GCO. Centiva Capital LP increased its holdings in shares of Genesco by 4.3% in the 3rd quarter. Centiva Capital LP now owns 8,755 shares of the company’s stock worth $238,000 after buying an additional 357 shares during the last quarter. Quest Partners LLC grew its position in Genesco by 54.9% in the third quarter. Quest Partners LLC now owns 1,854 shares of the company’s stock worth $50,000 after acquiring an additional 657 shares in the last quarter. Quarry LP bought a new position in Genesco in the second quarter valued at $27,000. nVerses Capital LLC purchased a new stake in Genesco during the third quarter valued at about $30,000. Finally, Point72 DIFC Ltd raised its position in Genesco by 1,627.4% during the third quarter. Point72 DIFC Ltd now owns 1,641 shares of the company’s stock valued at $45,000 after purchasing an additional 1,546 shares in the last quarter. 94.51% of the stock is currently owned by hedge funds and other institutional investors.

Genesco Stock Performance

NYSE GCO opened at $42.84 on Friday. The company has a 50-day simple moving average of $33.88 and a two-hundred day simple moving average of $29.56. Genesco Inc. has a 12-month low of $23.21 and a 12-month high of $44.80. The firm has a market cap of $480.32 million, a price-to-earnings ratio of -17.63 and a beta of 2.47. 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 (NYSE:GCO) last announced its quarterly earnings data on Friday, December 6th. The company reported $0.61 earnings per share for the quarter, beating the consensus estimate of $0.30 by $0.31. Genesco had a positive return on equity of 0.56% and a negative net margin of 1.13%. The firm had revenue of $596.30 million during the quarter, compared to the consensus estimate of $577.73 million. During the same quarter in the previous year, the company posted $0.57 earnings per share. The business’s revenue was up 2.9% on a year-over-year basis. On average, equities analysts forecast that Genesco Inc. will post 0.81 EPS for the current year.

Insider Buying and Selling

In related news, VP Daniel E. Ewoldsen sold 4,000 shares of the company’s stock in a transaction on Tuesday, December 17th. The stock was sold at an average price of $42.68, for a total value of $170,720.00. Following the sale, the vice president now directly owns 41,358 shares of the company’s stock, valued at $1,765,159.44. This represents a 8.82 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 7.09% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Separately, StockNews.com upgraded Genesco from a “hold” rating to a “buy” rating in a research report on Friday, December 6th.

Genesco Profile

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.