BNP Paribas Financial Markets Increases Stock Holdings in Genesco Inc. (NYSE:GCO)

BNP Paribas Financial Markets increased its holdings in shares of Genesco Inc. (NYSE:GCO) by 38.6% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 42,708 shares of the company’s stock after buying an additional 11,900 shares during the quarter. BNP Paribas Financial Markets owned 0.38% of Genesco worth $1,826,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in GCO. SG Americas Securities LLC purchased a new position in Genesco during the 4th quarter worth $111,000. Wells Fargo & Company MN grew its stake in Genesco by 28.1% during the 4th quarter. Wells Fargo & Company MN now owns 5,846 shares of the company’s stock worth $250,000 after buying an additional 1,281 shares during the last quarter. Inceptionr LLC purchased a new position in Genesco during the 4th quarter worth $264,000. Massachusetts Financial Services Co. MA purchased a new position in Genesco during the 4th quarter worth $340,000. Finally, Proficio Capital Partners LLC purchased a new position in Genesco during the 4th quarter worth $479,000. 94.51% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

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

Genesco Stock Performance

Shares of GCO opened at $24.24 on Friday. The stock has a 50-day moving average of $20.60 and a two-hundred day moving average of $31.58. Genesco Inc. has a one year low of $16.19 and a one year high of $44.80. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.32 and a current ratio of 1.56. The stock has a market cap of $267.56 million, a P/E ratio of -9.98 and a beta of 2.14.

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

Insiders Place Their Bets

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

Genesco Profile

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.