KLP Kapitalforvaltning AS Makes New $607,000 Investment in Genesco Inc. (NYSE:GCO)

KLP Kapitalforvaltning AS acquired a new stake in Genesco Inc. (NYSE:GCO) in the 4th quarter, according to the company in its most recent filing with the SEC. The fund acquired 14,200 shares of the company’s stock, valued at approximately $607,000. KLP Kapitalforvaltning AS owned approximately 0.13% of Genesco as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of GCO. State Street Corp grew its position in Genesco by 2.1% in the 3rd quarter. State Street Corp now owns 320,691 shares of the company’s stock valued at $8,713,000 after purchasing an additional 6,587 shares during the period. American Century Companies Inc. increased its position in shares of Genesco by 25.3% during the fourth quarter. American Century Companies Inc. now owns 276,807 shares of the company’s stock worth $11,833,000 after acquiring an additional 55,977 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in shares of Genesco by 124.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 251,142 shares of the company’s stock worth $6,824,000 after acquiring an additional 139,485 shares during the last quarter. Geode Capital Management LLC lifted its position in Genesco by 1.3% in the 3rd quarter. Geode Capital Management LLC now owns 247,193 shares of the company’s stock valued at $6,718,000 after acquiring an additional 3,157 shares in the last quarter. Finally, Empowered Funds LLC boosted its stake in Genesco by 5.0% during the 4th quarter. Empowered Funds LLC now owns 61,501 shares of the company’s stock valued at $2,629,000 after purchasing an additional 2,953 shares during the last quarter. 94.51% of the stock is owned by institutional investors.

Genesco Trading Up 1.7 %

NYSE:GCO opened at $22.14 on Thursday. The firm’s 50 day moving average is $32.62 and its 200 day moving average is $33.39. Genesco Inc. has a 12 month low of $20.09 and a 12 month high of $44.80. The stock has a market capitalization of $244.38 million, a PE ratio of -9.11 and a beta of 2.41. The company has a current ratio of 1.56, a quick ratio of 0.32 and a debt-to-equity ratio of 0.19.

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

Wall Street Analysts Forecast Growth

Separately, StockNews.com downgraded shares of Genesco from a “buy” rating to a “hold” rating in a report on Friday, March 7th.

Insider Buying and Selling at Genesco

In related news, Director Gregory A. Sandfort bought 10,974 shares of the company’s stock in a transaction that occurred on Thursday, March 20th. The stock was bought at an average cost of $22.92 per share, for a total transaction of $251,524.08. Following the acquisition, the director now directly owns 26,754 shares of the company’s stock, valued at $613,201.68. The trade was a 69.54 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Fund 1 Investments, Llc sold 12,000 shares of the firm’s stock in a transaction that occurred on Friday, March 28th. The stock was sold at an average price of $20.73, for a total transaction of $248,760.00. Following the completion of the transaction, the insider now owns 1,097,850 shares in the company, valued at $22,758,430.50. This represents a 1.08 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 7.09% 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.