Geode Capital Management LLC Has $10.17 Million Stake in Genesco Inc. (NYSE:GCO)

Geode Capital Management LLC cut its position in shares of Genesco Inc. (NYSE:GCO) by 3.8% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 237,790 shares of the company’s stock after selling 9,403 shares during the quarter. Geode Capital Management LLC’s holdings in Genesco were worth $10,168,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of GCO. Brandywine Global Investment Management LLC bought a new stake in Genesco during the fourth quarter valued at $1,475,000. Prudential Financial Inc. lifted its stake in shares of Genesco by 16.8% in the 4th quarter. Prudential Financial Inc. now owns 45,904 shares of the company’s stock valued at $1,962,000 after purchasing an additional 6,600 shares during the period. KLP Kapitalforvaltning AS bought a new stake in shares of Genesco during the 4th quarter valued at about $607,000. American Century Companies Inc. grew its stake in 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 purchasing an additional 55,977 shares during the period. Finally, Inceptionr LLC bought a new stake in Genesco in the fourth quarter worth approximately $264,000. Institutional investors own 94.51% of the company’s stock.

Genesco Stock Up 0.8 %

Shares of NYSE GCO opened at $19.33 on Wednesday. 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 firm has a market cap of $213.40 million, a PE ratio of -7.96 and a beta of 2.25. The company’s fifty day simple moving average is $25.46 and its 200 day simple moving average is $32.41. Genesco Inc. has a 12-month low of $16.19 and a 12-month high of $44.80.

Genesco (NYSE:GCO) last announced its quarterly earnings data on Friday, March 7th. The company reported $3.26 earnings per share for the quarter, missing the consensus estimate of $3.31 by ($0.05). The company had revenue of $745.95 million for the quarter, compared to analyst estimates of $780.43 million. Genesco had a negative net margin of 1.13% and a positive return on equity of 0.56%. During the same quarter in the prior year, the company posted $2.59 EPS. As a group, sell-side analysts forecast that Genesco Inc. will post 0.94 earnings per share for the current fiscal year.

Analyst Ratings Changes

Separately, StockNews.com cut Genesco from a “buy” rating to a “hold” rating in a report on Tuesday, April 15th.

Insiders Place Their Bets

In other news, major shareholder Fund 1 Investments, Llc sold 12,000 shares of Genesco stock in a transaction dated Friday, March 28th. The shares were 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 directly owns 1,097,850 shares in the company, valued at $22,758,430.50. This trade represents a 1.08 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Gregory A. Sandfort bought 10,974 shares of the stock in a transaction that occurred on Thursday, March 20th. The stock was acquired at an average price of $22.92 per share, for a total transaction of $251,524.08. Following the acquisition, the director now directly owns 26,754 shares in the company, valued at $613,201.68. The trade was a 69.54 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate 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.