Ameriprise Financial Inc. Purchases 16,161 Shares of Genesco Inc. (NYSE:GCO)

Ameriprise Financial Inc. grew its holdings in shares of Genesco Inc. (NYSE:GCO - Free Report) by 32.7% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 65,625 shares of the company's stock after purchasing an additional 16,161 shares during the quarter. Ameriprise Financial Inc. owned approximately 0.59% of Genesco worth $2,805,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently made changes to their positions in GCO. SG Americas Securities LLC purchased a new stake in shares of Genesco during the 4th quarter valued at about $111,000. Wells Fargo & Company MN increased its position in shares of Genesco by 28.1% during 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 during the last quarter. Inceptionr LLC purchased a new stake in shares of Genesco during the 4th quarter valued at about $264,000. Massachusetts Financial Services Co. MA purchased a new stake in shares of Genesco during the 4th quarter valued at about $340,000. Finally, Proficio Capital Partners LLC purchased a new stake in shares of Genesco during the 4th quarter valued at about $479,000. Hedge funds and other institutional investors own 94.51% of the company's stock.

Genesco Stock Performance

Genesco stock traded down $0.37 during midday trading on Monday, hitting $21.36. The stock had a trading volume of 333,201 shares, compared to its average volume of 212,963. The firm's fifty day moving average is $20.56 and its two-hundred day moving average is $31.06. The company has a market capitalization of $230.26 million, a PE ratio of -8.79 and a beta of 2.14. Genesco Inc. has a 52-week low of $16.19 and a 52-week high of $44.80. The company has a current ratio of 1.56, a quick ratio of 0.32 and a debt-to-equity ratio of 0.19.

Genesco (NYSE:GCO - Get Free Report) last released its earnings results on Friday, March 7th. The company reported $3.26 earnings per share (EPS) for the quarter, missing the consensus estimate 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 during the quarter, compared to analysts' expectations of $780.43 million. During the same period in the prior year, the company posted $2.59 earnings per share. On average, research analysts forecast that Genesco Inc. will post 0.94 EPS for the current year.

Analyst Ratings Changes

Several research firms recently issued reports on GCO. Wall Street Zen lowered shares of Genesco from a "buy" rating to a "hold" rating in a report on Friday. Truist Financial began coverage on shares of Genesco in a report on Wednesday, May 28th. They issued a "hold" rating and a $23.00 target price for the company. Finally, Jefferies Financial Group reissued a "hold" rating and issued a $24.00 target price (down from $27.00) on shares of Genesco in a report on Wednesday, May 21st.

Insider Buying and Selling at Genesco

In other Genesco news, major shareholder Fund 1 Investments, Llc sold 12,000 shares of the stock in a transaction that occurred 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 sale, 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 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 business's stock in a transaction on Thursday, March 20th. The shares were bought at an average cost of $22.92 per share, with a total value of $251,524.08. Following the completion of the acquisition, the director now owns 26,754 shares in the company, valued at approximately $613,201.68. This represents a 69.54% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 23.11% of the company's stock.

Genesco Company 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.