First Hawaiian Bank Increases Position in Genesco Inc. (NYSE:GCO)

First Hawaiian Bank increased its stake in shares of Genesco Inc. (NYSE:GCO) by 108.2% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 16,680 shares of the company’s stock after buying an additional 8,670 shares during the period. First Hawaiian Bank’s holdings in Genesco were worth $431,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Jump Financial LLC purchased a new position in shares of Genesco in the fourth quarter valued at $250,000. Summit Global Investments acquired a new stake in Genesco in the 4th quarter valued at about $340,000. Empowered Funds LLC increased its holdings in Genesco by 7.9% during the 1st quarter. Empowered Funds LLC now owns 31,089 shares of the company’s stock valued at $875,000 after acquiring an additional 2,275 shares in the last quarter. BNP Paribas Financial Markets grew its position in shares of Genesco by 54.2% in the first quarter. BNP Paribas Financial Markets now owns 36,283 shares of the company’s stock valued at $1,021,000 after purchasing an additional 12,754 shares during the last quarter. Finally, GSA Capital Partners LLP raised its position in shares of Genesco by 83.9% during the 4th quarter. GSA Capital Partners LLP now owns 68,943 shares of the company’s stock worth $2,427,000 after purchasing an additional 31,456 shares during the last quarter. 94.51% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Separately, StockNews.com cut Genesco from a “buy” rating to a “hold” rating in a research report on Monday.

Genesco Trading Up 1.5 %

GCO stock traded up $0.41 during midday trading on Tuesday, hitting $27.11. The stock had a trading volume of 52,186 shares, compared to its average volume of 131,922. Genesco Inc. has a 12-month low of $23.21 and a 12-month high of $37.89. The firm has a market cap of $315.18 million, a PE ratio of -13.65 and a beta of 2.42. The company’s 50-day moving average price is $26.60 and its 200 day moving average price is $27.29. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.65 and a quick ratio of 0.37.

Genesco (NYSE:GCO) last released its earnings results on Friday, May 31st. The company reported ($2.10) EPS for the quarter, beating the consensus estimate of ($2.66) by $0.56. Genesco had a positive return on equity of 0.40% and a negative net margin of 0.97%. The firm had revenue of $457.60 million during the quarter, compared to analyst estimates of $445.66 million. During the same period in the prior year, the firm posted ($1.59) earnings per share. The business’s quarterly revenue was down 5.3% compared to the same quarter last year. On average, equities research analysts predict that Genesco Inc. will post 0.66 earnings per share for the current fiscal year.

Genesco Company 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.