Palisade Capital Managementnj Lowers stake in Genesco (GCO)

Genesco (GCO) : Palisade Capital Managementnj reduced its stake in Genesco by 0.87% during the most recent quarter end. The investment management company now holds a total of 218,158 shares of Genesco which is valued at $14,612,223 after selling 1,921 shares in Genesco , the firm said in a disclosure report filed with the SEC on Aug 2, 2016.Genesco makes up approximately 0.62% of Palisade Capital Managementnj’s portfolio.

Other Hedge Funds, Including , Quantbot Technologies Lp added GCO to its portfolio by purchasing 6,566 company shares during the most recent quarter which is valued at $439,791. Genesco makes up approx 0.05% of Quantbot Technologies Lp’s portfolio.Strs Ohio boosted its stake in GCO in the latest quarter, The investment management firm added 600 additional shares and now holds a total of 15,200 shares of Genesco which is valued at $1,060,352. Msi Financial Services Inc sold out all of its stake in GCO during the most recent quarter. The investment firm sold 418 shares of GCO which is valued $29,160. Simplex Trading added GCO to its portfolio by purchasing 89 company shares during the most recent quarter which is valued at $5,959.

Genesco closed down -0.35 points or -0.50% at $69.49 with 1,03,080 shares getting traded on Monday. Post opening the session at $69.98, the shares hit an intraday low of $69.28 and an intraday high of $69.98 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.

On the company’s financial health, Genesco reported $0.62 EPS for the quarter, beating the analyst consensus estimate by $ 0.23 according to the earnings call on May 26, 2016. Analyst had a consensus of $0.39. The company had revenue of $648.80 million for the quarter, compared to analysts expectations of $658.79 million. The company’s revenue was down -1.8 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.51 EPS.

Many Wall Street Analysts have commented on Genesco. Genesco was Downgraded by Morgan Stanley to ” Equal-Weight” on Jul 20, 2016. Company shares were Upgraded by Robert W. Baird on May 26, 2016 to ” Outperform”, Firm has raised the Price Target to $ 80 from a previous price target of $68 .Shares were Downgraded by Piper Jaffray on May 24, 2016 to ” Neutral” and Lowered the Price Target to $ 61 from a previous price target of $70 .

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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