Franklin Resources Inc. Purchases 859 Shares of Genesco Inc. (NYSE:GCO)

Franklin Resources Inc. boosted its holdings in shares of Genesco Inc. (NYSE:GCO) by 8.4% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,108 shares of the company’s stock after buying an additional 859 shares during the period. Franklin Resources Inc. owned about 0.10% of Genesco worth $313,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Quarry LP bought a new position in shares of Genesco during the 2nd quarter worth approximately $27,000. nVerses Capital LLC bought a new position in shares of Genesco during the third quarter valued at $30,000. Point72 DIFC Ltd boosted its stake in shares of Genesco by 1,627.4% in the 3rd 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. Quest Partners LLC grew its stake in Genesco by 54.9% during the third quarter. Quest Partners LLC now owns 1,854 shares of the company’s stock worth $50,000 after buying an additional 657 shares during the last quarter. Finally, CWM LLC raised its stake in shares of Genesco by 256.4% in the third quarter. CWM LLC now owns 2,363 shares of the company’s stock valued at $64,000 after acquiring an additional 1,700 shares during the last quarter. Institutional investors own 94.51% of the company’s stock.

Insiders Place Their Bets

In other Genesco news, VP Daniel E. Ewoldsen sold 4,000 shares of the business’s stock in a transaction dated Tuesday, December 17th. The stock was sold at an average price of $42.68, for a total transaction of $170,720.00. Following the completion of the sale, the vice president now directly owns 41,358 shares of the company’s stock, valued at approximately $1,765,159.44. The trade was a 8.82 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 7.09% of the company’s stock.

Genesco Stock Performance

Genesco stock opened at $42.75 on Thursday. Genesco Inc. has a 12-month low of $23.21 and a 12-month high of $44.80. The stock has a 50-day simple moving average of $34.96 and a 200 day simple moving average of $30.08. 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 stock has a market capitalization of $479.31 million, a price-to-earnings ratio of -17.59 and a beta of 2.47.

Genesco (NYSE:GCO) last announced its earnings results on Friday, December 6th. The company reported $0.61 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.30 by $0.31. Genesco had a negative net margin of 1.13% and a positive return on equity of 0.56%. The company had revenue of $596.30 million for the quarter, compared to analyst estimates of $577.73 million. During the same period in the prior year, the business earned $0.57 earnings per share. Genesco’s quarterly revenue was up 2.9% on a year-over-year basis. On average, research analysts anticipate that Genesco Inc. will post 0.81 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

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.