Kevin Patrick Mcdermott Purchases 1,000 Shares of Genesco Inc. (GCO) Stock
Genesco Inc. (NYSE:GCO) Director Kevin Patrick Mcdermott bought 1,000 shares of Genesco stock in a transaction dated Tuesday, September 20th. The shares were bought at an average cost of $51.39 per share, with a total value of $51,390.00. Following the completion of the transaction, the director now directly owns 2,906 shares in the company, valued at $149,339.34. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.
Shares of Genesco Inc. (NYSE:GCO) opened at 51.90 on Thursday. Genesco Inc. has a 52-week low of $47.66 and a 52-week high of $74.21. The stock has a market cap of $1.07 billion, a PE ratio of 10.89 and a beta of 1.10. The stock’s 50 day moving average is $62.60 and its 200 day moving average is $65.68.
Genesco (NYSE:GCO) last announced its quarterly earnings results on Thursday, September 1st. The company reported $0.34 EPS for the quarter, topping analysts’ consensus estimates of $0.27 by $0.07. Genesco had a net margin of 3.49% and a return on equity of 10.65%. The firm earned $625.60 million during the quarter. During the same quarter in the prior year, the firm earned $0.36 earnings per share. The business’s revenue was down 4.6% compared to the same quarter last year. Equities research analysts forecast that Genesco Inc. will post $3.89 earnings per share for the current year.
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Several hedge funds have recently made changes to their positions in GCO. Macquarie Group Ltd. raised its stake in shares of Genesco by 1.5% in the second quarter. Macquarie Group Ltd. now owns 264,197 shares of the company’s stock worth $16,991,000 after buying an additional 3,847 shares in the last quarter. Mason Street Advisors LLC bought a new stake in shares of Genesco during the second quarter worth approximately $263,000. Royal Bank of Canada raised its stake in shares of Genesco by 261.6% in the second quarter. Royal Bank of Canada now owns 3,641 shares of the company’s stock worth $234,000 after buying an additional 2,634 shares in the last quarter. Public Employees Retirement System of Ohio raised its stake in shares of Genesco by 7.2% in the second quarter. Public Employees Retirement System of Ohio now owns 3,155 shares of the company’s stock worth $203,000 after buying an additional 212 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. raised its stake in shares of Genesco by 2.7% in the second quarter. Schwab Charles Investment Management Inc. now owns 137,847 shares of the company’s stock worth $8,865,000 after buying an additional 3,589 shares in the last quarter. Hedge funds and other institutional investors own 93.55% of the company’s stock.
GCO has been the subject of a number of research reports. Zacks Investment Research raised shares of Genesco from a “sell” rating to a “hold” rating in a research report on Wednesday, May 25th. Robert W. Baird upgraded shares of Genesco from a “neutral” rating to an “outperform” rating and upped their price target for the company from $68.00 to $80.00 in a research note on Thursday, May 26th. B. Riley restated a “neutral” rating and set a $68.00 price target on shares of Genesco in a research note on Saturday, May 28th. Jefferies Group restated a “hold” rating on shares of Genesco in a research note on Sunday, May 29th. Finally, Piper Jaffray Cos. restated a “hold” rating and set a $62.00 price target on shares of Genesco in a research note on Wednesday, June 15th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $63.75.
Genesco Company Profile
Genesco Inc is a retailer and wholesaler of footwear, apparel and accessories. The Company operates in five segments: Journeys Group, Schuh Group, Lids Sports Group, Johnston & Murphy Group and Licensed Brands. Its Journeys Group segment includes Journeys, Journeys Kidz, Shi by Journeys, Little Burgundy and Underground by Journeys retail stores, catalog and e-commerce operations.
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