M&T Bank Corp Increases Stake in Genesco Inc. (GCO)

M&T Bank Corp increased its position in Genesco Inc. (NYSE:GCO) by 1.1% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 4,139 shares of the company’s stock after buying an additional 45 shares during the period. M&T Bank Corp’s holdings in Genesco were worth $229,000 at the end of the most recent reporting period.

A number of other institutional investors also recently added to or reduced their stakes in GCO. Shell Asset Management Co. bought a new position in Genesco during the first quarter worth about $1,073,000. James Investment Research Inc. bought a new position in Genesco during the first quarter worth about $1,746,000. Nisa Investment Advisors LLC increased its position in Genesco by 11.4% in the first quarter. Nisa Investment Advisors LLC now owns 12,810 shares of the company’s stock worth $710,000 after buying an additional 1,310 shares during the last quarter. Teachers Advisors LLC increased its position in Genesco by 6.2% in the fourth quarter. Teachers Advisors LLC now owns 34,925 shares of the company’s stock worth $2,169,000 after buying an additional 2,031 shares during the last quarter. Finally, Norges Bank bought a new position in Genesco during the fourth quarter worth about $33,980,000.

Institutional Ownership by Quarter for Genesco (NYSE:GCO)

Genesco Inc. (GCO) opened at 34.65 on Tuesday. Genesco Inc. has a 52 week low of $33.55 and a 52 week high of $74.21. The company has a market cap of $678.90 million, a P/E ratio of 7.78 and a beta of 1.17. The firm’s 50 day moving average is $43.39 and its 200-day moving average is $55.42.

Genesco (NYSE:GCO) last announced its quarterly earnings results on Thursday, May 25th. The company reported $0.06 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.28 by $0.22. Genesco had a return on equity of 8.41% and a net margin of 3.07%. The firm had revenue of $643.40 million for the quarter, compared to analysts’ expectations of $644.15 million. During the same period last year, the company posted $0.62 earnings per share. The business’s quarterly revenue was down .8% on a year-over-year basis. On average, analysts predict that Genesco Inc. will post $3.92 earnings per share for the current fiscal year.

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A number of research firms recently issued reports on GCO. B. Riley reissued a “neutral” rating and issued a $65.00 price target on shares of Genesco in a research note on Monday, March 13th. Piper Jaffray Companies set a $63.00 price target on shares of Genesco and gave the stock a “hold” rating in a research note on Saturday, March 11th. Zacks Investment Research downgraded shares of Genesco from a “buy” rating to a “hold” rating in a research note on Tuesday, March 14th. Jefferies Group LLC set a $62.00 price target on shares of Genesco and gave the stock a “hold” rating in a research note on Thursday, April 20th. Finally, Susquehanna Bancshares Inc raised shares of Genesco from a “neutral” rating to a “positive” rating and set a $66.00 price target for the company in a research note on Wednesday, April 26th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and four have given a buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $53.57.

In related news, Director Kevin Patrick Mcdermott acquired 1,340 shares of the firm’s stock in a transaction on Thursday, June 1st. The shares were acquired at an average cost of $37.18 per share, with a total value of $49,821.20. Following the completion of the acquisition, the director now directly owns 5,192 shares in the company, valued at approximately $193,038.56. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Company insiders own 3.30% of the company’s stock.

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.

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