Lazard Asset Management LLC Increases Stake in Genesco Inc. (NYSE:GCO)

Lazard Asset Management LLC grew its position in shares of Genesco Inc. (NYSE:GCO - Free Report) by 272.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 35,114 shares of the company's stock after buying an additional 25,682 shares during the quarter. Lazard Asset Management LLC owned 0.31% of Genesco worth $1,501,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently made changes to their positions in GCO. Rhumbline Advisers lifted its position in Genesco by 1.5% in the 4th quarter. Rhumbline Advisers now owns 19,146 shares of the company's stock valued at $818,000 after acquiring an additional 281 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in shares of Genesco by 4.7% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 14,392 shares of the company's stock valued at $616,000 after purchasing an additional 650 shares in the last quarter. Wells Fargo & Company MN boosted its position in shares of Genesco by 28.1% during the fourth quarter. Wells Fargo & Company MN now owns 5,846 shares of the company's stock valued at $250,000 after buying an additional 1,281 shares during the last quarter. Barclays PLC increased its holdings in Genesco by 7.2% in the 4th quarter. Barclays PLC now owns 22,228 shares of the company's stock worth $950,000 after buying an additional 1,498 shares in the last quarter. Finally, Northern Trust Corp increased its holdings in Genesco by 1.9% in the 4th quarter. Northern Trust Corp now owns 111,992 shares of the company's stock worth $4,788,000 after buying an additional 2,065 shares in the last quarter. Hedge funds and other institutional investors own 94.51% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the stock. Wall Street Zen downgraded shares of Genesco from a "buy" rating to a "hold" rating in a report on Tuesday, April 15th. Jefferies Financial Group restated a "hold" rating and issued a $24.00 target price (down previously from $27.00) on shares of Genesco in a report on Wednesday.

Insider Buying and Selling at Genesco

In related news, Director Gregory A. Sandfort purchased 10,974 shares of Genesco stock in a transaction on Thursday, March 20th. The stock was acquired at an average price of $22.92 per share, for a total transaction of $251,524.08. Following the completion of the transaction, the director now directly owns 26,754 shares in the company, valued at $613,201.68. This represents a 69.54% increase in their position. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, major shareholder Fund 1 Investments, Llc sold 12,000 shares of the firm'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 directly owns 1,097,850 shares in the company, 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. 7.09% of the stock is owned by corporate insiders.

Genesco Stock Performance

Shares of GCO traded down $0.88 during trading hours on Friday, hitting $20.98. The stock had a trading volume of 241,689 shares, compared to its average volume of 214,140. The firm has a market capitalization of $226.19 million, a PE ratio of -8.63 and a beta of 2.14. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.56 and a quick ratio of 0.32. Genesco Inc. has a 12 month low of $16.19 and a 12 month high of $44.80. The stock has a fifty day moving average price of $20.67 and a 200 day moving average price of $31.41.

Genesco (NYSE:GCO - Get Free Report) last released its quarterly 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). Genesco had a negative net margin of 1.13% and a positive return on equity of 0.56%. The firm had revenue of $745.95 million for the quarter, compared to the consensus estimate of $780.43 million. During the same quarter in the prior year, the firm earned $2.59 earnings per share. Analysts anticipate that Genesco Inc. will post 0.94 EPS for the current year.

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.