Genesco Inc. (GCO) Shares Sold by Municipal Employees Retirement System of Michigan

Municipal Employees Retirement System of Michigan cut its stake in Genesco Inc. (NYSE:GCO) by 1.4% during the first quarter, Holdings Channel reports. The fund owned 8,470 shares of the company’s stock after selling 120 shares during the period. Municipal Employees Retirement System of Michigan’s holdings in Genesco were worth $470,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. State Street Corp boosted its position in shares of Genesco by 4.6% in the fourth quarter. State Street Corp now owns 554,030 shares of the company’s stock valued at $34,406,000 after buying an additional 24,197 shares during the last quarter. Norges Bank purchased a new position in shares of Genesco during the fourth quarter valued at about $33,980,000. Ameriprise Financial Inc. boosted its position in shares of Genesco by 13.2% in the first quarter. Ameriprise Financial Inc. now owns 527,988 shares of the company’s stock valued at $29,278,000 after buying an additional 61,626 shares during the last quarter. Bank of New York Mellon Corp boosted its position in shares of Genesco by 48.5% in the first quarter. Bank of New York Mellon Corp now owns 449,520 shares of the company’s stock valued at $24,926,000 after buying an additional 146,748 shares during the last quarter. Finally, Victory Capital Management Inc. boosted its position in shares of Genesco by 2.4% in the first quarter. Victory Capital Management Inc. now owns 406,293 shares of the company’s stock valued at $22,529,000 after buying an additional 9,374 shares during the last quarter.

Shares of Genesco Inc. (NYSE GCO) opened at 33.55 on Wednesday. The company’s 50-day moving average price is $42.84 and its 200 day moving average price is $55.19. Genesco Inc. has a 12-month low of $33.15 and a 12-month high of $74.21. The firm has a market capitalization of $657.35 million, a price-to-earnings ratio of 7.54 and a beta of 1.17.

Genesco (NYSE:GCO) last posted its earnings results on Thursday, May 25th. The company reported $0.06 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.28 by $0.22. Genesco had a net margin of 3.07% and a return on equity of 8.41%. The firm had revenue of $643.40 million during the quarter, compared to analysts’ expectations of $644.15 million. During the same period in the previous year, the firm posted $0.62 earnings per share. The firm’s revenue for the quarter was down .8% on a year-over-year basis. On average, equities research analysts forecast that Genesco Inc. will post $3.89 EPS for the current fiscal year.

TRADEMARK VIOLATION NOTICE: “Genesco Inc. (GCO) Shares Sold by Municipal Employees Retirement System of Michigan” was published by sleekmoney and is the property of of sleekmoney. If you are viewing this article on another site, it was illegally copied and reposted in violation of international trademark and copyright law. The legal version of this article can be accessed at https://sleekmoney.com/genesco-inc-gco-shares-sold-by-municipal-employees-retirement-system-of-michigan/1945302.html.

GCO has been the subject of several research analyst reports. Zacks Investment Research cut Genesco from a “hold” rating to a “strong sell” rating in a research note on Thursday, June 1st. Piper Jaffray Companies upgraded Genesco from a “neutral” rating to an “overweight” rating and reduced their price objective for the stock from $63.00 to $62.00 in a research note on Thursday, April 20th. Susquehanna Bancshares Inc restated a “positive” rating and issued a $43.00 price objective (down from $66.00) on shares of Genesco in a research note on Tuesday, May 30th. B. Riley restated a “buy” rating and issued a $50.00 price objective on shares of Genesco in a research note on Saturday, May 27th. Finally, ValuEngine cut Genesco from a “buy” rating to a “hold” rating in a research note on Friday, June 2nd. One research analyst has rated the stock with a sell rating, four have given a hold rating and four have issued a buy rating to the company. Genesco presently has a consensus rating of “Hold” and an average price target of $50.29.

In other news, Director Kevin Patrick Mcdermott bought 1,340 shares of Genesco stock in a transaction dated Thursday, June 1st. The stock was acquired at an average cost of $37.18 per share, with a total value of $49,821.20. Following the acquisition, the director now owns 5,192 shares of the company’s stock, valued at $193,038.56. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. 3.30% of the stock is currently owned by insiders.

About Genesco

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. It relies on independent third-party manufacturers for production of its footwear products sold at wholesale.

Want to see what other hedge funds are holding GCO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Genesco Inc. (NYSE:GCO).

Institutional Ownership by Quarter for Genesco (NYSE:GCO)

This story was originally published by sleekmoney (https://sleekmoney.com) and is the sole property of sleekmoney. If you are reading this article on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. You can view the original version of this story at https://sleekmoney.com/genesco-inc-gco-shares-sold-by-municipal-employees-retirement-system-of-michigan/1945302.html

Receive News & Ratings for Genesco Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Genesco Inc. and related companies with MarketBeat.com's FREE daily email newsletter.

 

Leave a Reply

Your email address will not be published. Required fields are marked *