BNP Paribas Arbitrage SA Has $363,000 Position in Genesco Inc. (GCO)

BNP Paribas Arbitrage SA boosted its holdings in Genesco Inc. (NYSE:GCO) by 106.0% during the 1st quarter, HoldingsChannel reports. The fund owned 7,963 shares of the company’s stock after buying an additional 4,097 shares during the period. BNP Paribas Arbitrage SA’s holdings in Genesco were worth $363,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Meeder Asset Management Inc. lifted its position in Genesco by 112.3% in the 4th quarter. Meeder Asset Management Inc. now owns 603 shares of the company’s stock valued at $27,000 after acquiring an additional 319 shares in the last quarter. Oppenheimer Asset Management Inc. bought a new position in shares of Genesco during the 4th quarter valued at $48,000. PNC Financial Services Group Inc. lifted its holdings in shares of Genesco by 24.4% during the 4th quarter. PNC Financial Services Group Inc. now owns 1,350 shares of the company’s stock valued at $60,000 after buying an additional 265 shares during the period. Investors Research Corp bought a new position in shares of Genesco during the 1st quarter valued at $146,000. Finally, Bowling Portfolio Management LLC bought a new position in shares of Genesco during the 4th quarter valued at $225,000.

NYSE GCO opened at $45.19 on Monday. The firm has a market cap of $829.19 million, a PE ratio of 13.78, a PEG ratio of 2.58 and a beta of 0.70. The company has a current ratio of 2.65, a quick ratio of 1.32 and a debt-to-equity ratio of 0.08. Genesco Inc. has a 1-year low of $37.00 and a 1-year high of $51.85.

Genesco (NYSE:GCO) last posted its quarterly earnings data on Thursday, March 14th. The company reported $2.18 EPS for the quarter, missing the consensus estimate of $2.30 by ($0.12). The company had revenue of $675.50 million during the quarter, compared to analysts’ expectations of $914.85 million. Genesco had a positive return on equity of 7.52% and a negative net margin of 1.93%. The company’s revenue for the quarter was down 2.0% on a year-over-year basis. During the same quarter last year, the company earned $2.15 earnings per share. As a group, analysts forecast that Genesco Inc. will post 3.5 EPS for the current fiscal year.

Genesco announced that its board has approved a stock repurchase program on Friday, May 3rd that authorizes the company to repurchase $100.00 million in shares. This repurchase authorization authorizes the company to repurchase up to 11.7% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s board of directors believes its stock is undervalued.

Several research firms have recently weighed in on GCO. Zacks Investment Research raised Genesco from a “sell” rating to a “hold” rating in a report on Tuesday, May 14th. ValuEngine cut Genesco from a “buy” rating to a “hold” rating in a report on Friday, March 1st. Seven investment analysts have rated the stock with a hold rating, Genesco presently has an average rating of “Hold” and an average price target of $44.00.

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Genesco Profile

Genesco Inc operates as a retailer and wholesaler of footwear, apparel, and accessories. The company operates through four segments: Journeys Group, Schuh Group, Johnston & Murphy Group, and Licensed Brands. The Journeys Group segment offers footwear and accessories through the Journeys, Journeys Kidz, and Little Burgundy retail chains, as well as through e-commerce and catalogs for young men, women, and children.

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Institutional Ownership by Quarter for Genesco (NYSE:GCO)

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