JPMorgan Chase & Co. Cuts Stock Holdings in Genesco Inc. (NYSE:GCO)

JPMorgan Chase & Co. decreased its position in shares of Genesco Inc. (NYSE:GCO - Free Report) by 20.4% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 200,003 shares of the company's stock after selling 51,139 shares during the quarter. JPMorgan Chase & Co. owned 1.78% of Genesco worth $8,550,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. SG Americas Securities LLC acquired a new stake in Genesco in the fourth quarter valued at approximately $111,000. Inceptionr LLC purchased a new position in Genesco during the fourth quarter valued at $264,000. Franklin Resources Inc. grew its position in shares of Genesco by 8.4% in the third quarter. Franklin Resources Inc. now owns 11,108 shares of the company's stock valued at $313,000 after purchasing an additional 859 shares during the period. Proficio Capital Partners LLC purchased a new stake in shares of Genesco during the fourth quarter worth about $479,000. Finally, Versor Investments LP acquired a new position in shares of Genesco during the 4th quarter worth about $543,000. 94.51% of the stock is owned by hedge funds and other institutional investors.

Genesco Price Performance

Shares of NYSE GCO traded up $1.14 during mid-day trading on Friday, reaching $18.99. The company's stock had a trading volume of 327,582 shares, compared to its average volume of 203,839. The stock has a market capitalization of $209.60 million, a P/E ratio of -7.81 and a beta of 2.25. Genesco Inc. has a 1-year low of $16.19 and a 1-year high of $44.80. The stock has a 50-day moving average of $26.25 and a two-hundred day moving average of $32.57. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.32 and a current ratio of 1.56.

Genesco (NYSE:GCO - Get Free Report) last posted 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 company had revenue of $745.95 million during the quarter, compared to analysts' expectations of $780.43 million. During the same quarter last year, the company earned $2.59 earnings per share. On average, equities research analysts anticipate that Genesco Inc. will post 0.94 EPS for the current fiscal year.

Insiders Place Their Bets

In other Genesco news, Director Gregory A. Sandfort acquired 10,974 shares of the firm's stock in a transaction that occurred on Thursday, March 20th. The shares were purchased at an average cost of $22.92 per share, for a total transaction of $251,524.08. Following the completion of the acquisition, the director now owns 26,754 shares of the company's stock, valued at approximately $613,201.68. The trade was a 69.54 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, major shareholder Fund 1 Investments, Llc sold 12,000 shares of the firm's stock in a transaction 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 directly 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 disclosure for this sale can be found here. Corporate insiders own 7.09% of the company's stock.

Wall Street Analysts Forecast Growth

Separately, StockNews.com lowered Genesco from a "buy" rating to a "hold" rating in a research note on Tuesday, April 15th.

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.