Charles Schwab Investment Management Inc. Sells 70,552 Shares of Genesco Inc. (NYSE:GCO)

Charles Schwab Investment Management Inc. trimmed its position in Genesco Inc. (NYSE:GCO - Free Report) by 30.8% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 158,171 shares of the company's stock after selling 70,552 shares during the period. Charles Schwab Investment Management Inc. owned about 1.41% of Genesco worth $6,762,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Point72 DIFC Ltd grew its holdings in shares of Genesco by 1,627.4% in the third quarter. Point72 DIFC Ltd now owns 1,641 shares of the company's stock valued at $45,000 after acquiring an additional 1,546 shares in the last quarter. Quest Partners LLC raised its position in Genesco by 54.9% in the third quarter. Quest Partners LLC now owns 1,854 shares of the company's stock worth $50,000 after acquiring an additional 657 shares during the period. SG Americas Securities LLC purchased a new position in Genesco in the fourth quarter valued at approximately $111,000. Centiva Capital LP increased its position in Genesco by 4.3% in the third quarter. Centiva Capital LP now owns 8,755 shares of the company's stock worth $238,000 after buying an additional 357 shares during the last quarter. Finally, Franklin Resources Inc. raised its stake 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 buying an additional 859 shares during the period. Hedge funds and other institutional investors own 94.51% of the company's stock.

Analyst Ratings Changes

Separately, StockNews.com downgraded Genesco from a "buy" rating to a "hold" rating in a research note on Friday, March 7th.

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Genesco Stock Performance

Shares of GCO traded down $1.29 during trading hours on Friday, hitting $20.92. The company's stock had a trading volume of 360,896 shares, compared to its average volume of 182,711. The business has a 50 day simple moving average of $34.21 and a two-hundred day simple moving average of $33.44. Genesco Inc. has a 52-week low of $20.09 and a 52-week high of $44.80. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.56 and a quick ratio of 0.32. The company has a market cap of $234.59 million, a price-to-earnings ratio of -8.61 and a beta of 2.41.

Genesco (NYSE:GCO - Get Free Report) last released its quarterly earnings data on Friday, March 7th. The company reported $3.26 earnings per share for the quarter, missing analysts' consensus estimates of $3.31 by ($0.05). The business had revenue of $745.95 million during the quarter, compared to analysts' expectations of $780.43 million. Genesco had a negative net margin of 1.13% and a positive return on equity of 0.56%. During the same quarter in the prior year, the firm posted $2.59 earnings per share. On average, equities analysts expect that Genesco Inc. will post 0.94 earnings per share for the current fiscal year.

Insider Activity at Genesco

In other news, Director Gregory A. Sandfort bought 10,974 shares of the firm's stock in a transaction that occurred on Thursday, March 20th. The shares were acquired at an average price of $22.92 per share, with a total value of $251,524.08. Following 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 acquisition was disclosed in a legal filing with the SEC, which is available through this link. 7.09% of the stock is currently owned by corporate insiders.

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.