Genesco Inc. (NYSE:GCO) Shares Sold by Millennium Management LLC

Millennium Management LLC lowered its position in Genesco Inc. (NYSE:GCO) by 51.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 13,176 shares of the company’s stock after selling 14,033 shares during the quarter. Millennium Management LLC owned 0.12% of Genesco worth $563,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in GCO. SG Americas Securities LLC purchased a new stake in Genesco in the 4th quarter valued at about $111,000. Bayesian Capital Management LP acquired a new position in Genesco during the 4th quarter worth approximately $234,000. Wells Fargo & Company MN raised its position in shares of Genesco by 28.1% in the 4th 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 acquired a new position in shares of Genesco in the 4th quarter valued at approximately $264,000. Finally, Corton Capital Inc. acquired a new position in shares of Genesco in the 4th quarter valued at approximately $299,000. Hedge funds and other institutional investors own 94.51% of the company’s stock.

Genesco Stock Up 0.1%

GCO opened at $22.71 on Monday. The business has a 50 day moving average price of $20.64 and a 200 day moving average price of $30.87. Genesco Inc. has a twelve month low of $16.19 and a twelve month 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 firm has a market cap of $244.81 million, a P/E ratio of -9.35 and a beta of 2.17.

Genesco (NYSE:GCO) last issued its earnings results on Wednesday, June 4th. The company reported ($2.05) EPS for the quarter, beating analysts’ consensus estimates of ($2.09) by $0.04. Genesco had a positive return on equity of 0.56% and a negative net margin of 1.13%. The business had revenue of $473.97 million during the quarter, compared to analyst estimates of $463.90 million. During the same period in the prior year, the company posted ($2.10) earnings per share. Genesco’s revenue was up 3.6% on a year-over-year basis. Research analysts forecast that Genesco Inc. will post 0.94 EPS for the current year.

Wall Street Analysts Forecast Growth

GCO has been the subject of a number of research analyst reports. Jefferies Financial Group reiterated a “hold” rating and issued a $24.00 price target (down from $27.00) on shares of Genesco in a report on Wednesday, May 21st. Wall Street Zen lowered Genesco from a “buy” rating to a “hold” rating in a research report on Friday, May 30th. Finally, Truist Financial raised their target price on Genesco from $23.00 to $25.00 and gave the company a “hold” rating in a research note on Thursday.

Insiders Place Their Bets

In related news, major shareholder Fund 1 Investments, Llc sold 12,000 shares of Genesco stock in a transaction that occurred on Friday, March 28th. The stock was sold at an average price of $20.73, for a total value of $248,760.00. Following the sale, the insider now owns 1,097,850 shares of the company’s stock, valued at approximately $22,758,430.50. This trade represents a 1.08% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Gregory A. Sandfort purchased 10,974 shares of the stock in a transaction on Thursday, March 20th. The shares were bought at an average cost of $22.92 per share, for a total transaction of $251,524.08. Following the transaction, the director now directly owns 26,754 shares in the company, valued at approximately $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. Company insiders own 23.11% of the company’s stock.

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.