Insider Selling: Genesco CAO Sells 9,785 Shares of Stock (GCO)
Genesco (NYSE:GCO) CAO Paul D. Williams sold 9,785 shares of the stock on the open market in a transaction that occurred on Wednesday, June 11th. The stock was sold at an average price of $76.54, for a total value of $748,943.90. Following the transaction, the chief accounting officer now directly owns 13,956 shares of the company’s stock, valued at approximately $1,068,192. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.
Genesco (NYSE:GCO) traded down 0.42% during mid-day trading on Thursday, hitting $76.32. The stock had a trading volume of 84,220 shares. Genesco has a 1-year low of $60.03 and a 1-year high of $80.52. The stock has a 50-day moving average of $75. and a 200-day moving average of $73.63. The company has a market cap of $1.783 billion and a P/E ratio of 19.57.
Genesco (NYSE:GCO) last announced its earnings results on Friday, May 30th. The company reported $0.81 EPS for the quarter, missing the Thomson Reuters consensus estimate of $0.91 by $0.10. The company had revenue of $628.80 million for the quarter, compared to the consensus estimate of $618.92 million. During the same quarter in the prior year, the company posted $0.94 earnings per share. The company’s quarterly revenue was up 6.3% on a year-over-year basis. On average, analysts predict that Genesco will post $5.44 earnings per share for the current fiscal year.
GCO has been the subject of a number of recent research reports. Analysts at Goldman Sachs cut their price target on shares of Genesco from $62.00 to $61.00 in a research note on Thursday, May 29th. Separately, analysts at Sterne Agee upgraded shares of Genesco from a “neutral” rating to a “buy” rating in a research note on Friday, April 4th. They now have a $85.00 price target on the stock, up previously from $74.00. Finally, analysts at Johnson Rice downgraded shares of Genesco from an “overweight” rating to an “equal weight” rating in a research note on Monday, March 17th. Four research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $75.84.
Genesco Inc is a retailer and wholesaler of footwear, apparel and accessories. The Company operates in six segments: Journeys Group, Underground Station Group, Schuh Group, Lids Sports Group, Johnston & Murphy Group and Licensed Brands.
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