Eagle Asset Management Inc Lowers stake in Genesco (GCO)

Genesco (GCO) : Eagle Asset Management Inc reduced its stake in Genesco by 13.73% during the most recent quarter end. The investment management company now holds a total of 2,255,171 shares of Genesco which is valued at $125,951,300 after selling 358,851 shares in Genesco , the firm said in a disclosure report filed with the SEC on Oct 12, 2016.Genesco makes up approximately 0.87% of Eagle Asset Management Inc’s portfolio.

Other Hedge Funds, Including , Capstone Asset Management Co reduced its stake in GCO by selling 230 shares or 2.28% in the most recent quarter. The Hedge Fund company now holds 9,870 shares of GCO which is valued at $551,240. Genesco makes up approx 0.02% of Capstone Asset Management Co’s portfolio. Cutler Group Lp added GCO to its portfolio by purchasing 100 company shares during the most recent quarter which is valued at $5,633.Simplex Trading boosted its stake in GCO in the latest quarter, The investment management firm added 2,691 additional shares and now holds a total of 2,780 shares of Genesco which is valued at $154,373. Genesco makes up approx 0.02% of Simplex Trading’s portfolio.Bnp Paribas Arbitrage Sa reduced its stake in GCO by selling 5,573 shares or 55.72% in the most recent quarter. The Hedge Fund company now holds 4,429 shares of GCO which is valued at $245,101.

Genesco closed down -0.48 points or -0.85% at $55.85 with 1,47,150 shares getting traded on Tuesday. Post opening the session at $56.5, the shares hit an intraday low of $55.63 and an intraday high of $56.71 and the price fluctuated in this range throughout the day.Shares ended Tuesday session in Red.

On the company’s financial health, Genesco reported $0.34 EPS for the quarter, beating the analyst consensus estimate by $ 0.07 according to the earnings call on Sep 1, 2016. Analyst had a consensus of $0.27. The company had revenue of $625.60 million for the quarter, compared to analysts expectations of $642.38 million. The company’s revenue was down -4.6 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.36 EPS.

Many Wall Street Analysts have commented on Genesco. Genesco was Initiated by Susquehanna to “Positive” on Sep 16, 2016. Shares were Downgraded by Robert W. Baird on Sep 2, 2016 to ” Neutral” and Lowered the Price Target to $ 53 from a previous price target of $80 .Genesco was Downgraded by Morgan Stanley to ” Equal-Weight” on Jul 20, 2016.

Genesco Inc. is a retailer and wholesaler of footwear apparel and accessories. The Company operates in five segments: Journeys Group Schuh Group Lids Sports Group Johnston & Murphy Group and Licensed Brands. Journeys Group consists of Journeys Journeys Kidz Shi by Journeys and Underground by Journeys retail footwear chains catalog and e-commerce operations. Schuh Group consists of the Schuh retail footwear chain and e-commerce operations. Lids Sports Group consists of Lids the Lids Locker Room and Lids Clubhouse businesses Locker Room Lids Team Sports and headwear and accessory stores. Johnston & Murphy Group consists of Johnston & Murphy retail operations catalog and e-commerce operations and wholesale distribution of products under the Johnston & Murphy and Trask brands. Licensed Brands consists of Dockers Footwear sourced and marketed under a license from Levi Strauss & Company and SureGrip Footwear occupational footwear sold directly to consumers and other brands.

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