KLP Kapitalforvaltning AS Purchases New Position in Genesco Inc. (NYSE:GCO)

KLP Kapitalforvaltning AS acquired a new stake in shares of Genesco Inc. (NYSE:GCO - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 14,200 shares of the company's stock, valued at approximately $607,000. KLP Kapitalforvaltning AS owned 0.13% of Genesco at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Point72 DIFC Ltd grew its holdings in Genesco by 1,627.4% during the third quarter. Point72 DIFC Ltd now owns 1,641 shares of the company's stock valued at $45,000 after purchasing an additional 1,546 shares during the period. SG Americas Securities LLC bought a new stake in Genesco during the 4th quarter worth approximately $111,000. Inceptionr LLC purchased a new position in Genesco during the fourth quarter valued at approximately $264,000. Centiva Capital LP boosted its position in shares of 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 purchasing an additional 357 shares during the period. Finally, Franklin Resources Inc. increased 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 worth $313,000 after purchasing an additional 859 shares in the last quarter. 94.51% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Genesco

In other news, major shareholder Fund 1 Investments, Llc sold 12,000 shares of the stock in a transaction that occurred on Friday, March 28th. The stock was sold at an average price of $20.73, for a total transaction of $248,760.00. Following the completion of the transaction, the insider now directly owns 1,097,850 shares in the company, valued at approximately $22,758,430.50. This represents a 1.08 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Gregory A. Sandfort bought 10,974 shares of the business's stock in a transaction that occurred on Thursday, March 20th. The stock was acquired 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 of the company's stock, valued at $613,201.68. This represents a 69.54 % increase in their position. The disclosure for this purchase can be found here. 7.09% of the stock is currently owned by corporate insiders.

Genesco Price Performance

Shares of NYSE GCO traded up $1.27 during mid-day trading on Monday, reaching $19.27. The company's stock had a trading volume of 481,172 shares, compared to its average volume of 191,275. 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 52 week low of $16.41 and a 52 week high of $44.80. The stock has a fifty day moving average of $31.17 and a two-hundred day moving average of $33.24. The firm has a market capitalization of $212.65 million, a PE ratio of -7.93 and a beta of 2.25.

Genesco (NYSE:GCO - Get Free Report) last posted its quarterly earnings results on Friday, March 7th. The company reported $3.26 earnings per share for the quarter, missing the consensus estimate of $3.31 by ($0.05). The business had revenue of $745.95 million during the quarter, compared to the consensus estimate of $780.43 million. Genesco had a positive return on equity of 0.56% and a negative net margin of 1.13%. During the same quarter in the previous year, the company earned $2.59 earnings per share. As a group, sell-side analysts anticipate that Genesco Inc. will post 0.94 EPS for the current fiscal year.

Analysts Set New Price Targets

Separately, StockNews.com raised shares of Genesco from a "hold" rating to a "buy" rating in a report on Monday.

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.