Nuveen Asset Management LLC Decreases Position in Genesco Inc. (NYSE:GCO)

Nuveen Asset Management LLC decreased its holdings in Genesco Inc. (NYSE:GCO) by 3.4% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 35,479 shares of the company’s stock after selling 1,246 shares during the quarter. Nuveen Asset Management LLC owned approximately 0.32% of Genesco worth $1,517,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in the company. SG Americas Securities LLC bought a new position in Genesco in the fourth quarter worth about $111,000. Bayesian Capital Management LP acquired a new stake in shares of Genesco during the 4th quarter valued at $234,000. Wells Fargo & Company MN lifted its holdings in shares of Genesco by 28.1% in the fourth quarter. Wells Fargo & Company MN now owns 5,846 shares of the company’s stock valued at $250,000 after purchasing an additional 1,281 shares in the last quarter. Inceptionr LLC purchased a new stake in shares of Genesco in the fourth quarter valued at $264,000. Finally, Corton Capital Inc. purchased a new stake in shares of Genesco in the fourth quarter valued at $299,000. Institutional investors and hedge funds own 94.51% of the company’s stock.

Insider Activity at Genesco

In other news, Director Gregory A. Sandfort purchased 10,974 shares of the firm’s stock in a transaction dated Thursday, March 20th. The stock was bought at an average price of $22.92 per share, with a total value of $251,524.08. Following the acquisition, the director now directly owns 26,754 shares of the company’s stock, valued at approximately $613,201.68. This represents a 69.54% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, major shareholder Fund 1 Investments, Llc sold 12,000 shares of the business’s stock in a transaction on 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 of the company’s stock, valued at $22,758,430.50. This trade represents a 1.08% decrease in their position. The disclosure for this sale can be found here. 23.11% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

GCO has been the subject of several recent research reports. Truist Financial began coverage on Genesco in a report on Wednesday, May 28th. They set a “hold” rating and a $23.00 price objective for the company. Wall Street Zen downgraded Genesco from a “buy” rating to a “hold” rating in a research report on Friday, May 30th. Finally, Jefferies Financial Group reissued a “hold” rating and set a $24.00 target price (down from $27.00) on shares of Genesco in a research report on Wednesday, May 21st.

Genesco Stock Performance

NYSE:GCO opened at $22.45 on Wednesday. Genesco Inc. has a 1 year low of $16.19 and a 1 year high of $44.80. The firm has a 50 day moving average of $20.56 and a 200-day moving average of $31.00. The company has a current ratio of 1.56, a quick ratio of 0.32 and a debt-to-equity ratio of 0.19. The stock has a market capitalization of $242.00 million, a P/E ratio of -9.24 and a beta of 2.14.

Genesco (NYSE:GCO) last posted its earnings results on Friday, March 7th. The company reported $3.26 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.31 by ($0.05). The firm had revenue of $745.95 million during the quarter, compared to the consensus estimate 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 last year, the firm posted $2.59 EPS. As a group, sell-side analysts anticipate that Genesco Inc. will post 0.94 EPS for the current fiscal year.

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.