Pzena Investment Management LLC Makes New Investment in Genesco Inc. $GCO

Pzena Investment Management LLC acquired a new stake in shares of Genesco Inc. (NYSE:GCO) in the 2nd quarter, according to its most recent 13F filing with the SEC. The fund acquired 1,098,722 shares of the company’s stock, valued at approximately $37,104,000. Pzena Investment Management LLC owned 9.89% of Genesco at the end of the most recent quarter.

Several other large investors have also made changes to their positions in GCO. BlackRock Inc. acquired a new stake in shares of Genesco in the second quarter worth $30,730,000. Arrowstreet Capital Limited Partnership boosted its holdings in Genesco by 371.2% in the second quarter. Arrowstreet Capital Limited Partnership now owns 272,455 shares of the company’s stock valued at $5,365,000 after purchasing an additional 214,639 shares during the last quarter. Shay Capital LLC purchased a new stake in Genesco in the second quarter valued at $4,027,000. JPMorgan Chase & Co. grew its position in Genesco by 2,995.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 167,155 shares of the company’s stock worth $4,846,000 after purchasing an additional 161,755 shares during the period. Finally, MUFG Securities EMEA plc acquired a new stake in Genesco during the 2nd quarter worth about $2,954,000. 94.51% of the stock is owned by hedge funds and other institutional investors.

Genesco Stock Down 2.0%

GCO stock opened at $34.49 on Tuesday. The stock has a market capitalization of $383.18 million, a P/E ratio of 19.94 and a beta of 1.83. The firm has a 50-day simple moving average of $36.32 and a 200-day simple moving average of $32.87. The company has a quick ratio of 0.37, a current ratio of 1.83 and a debt-to-equity ratio of 0.08. Genesco Inc. has a 52 week low of $21.92 and a 52 week high of $43.60.

Genesco (NYSE:GCO) last released its quarterly earnings results on Friday, May 29th. The company reported ($2.18) earnings per share for the quarter, topping the consensus estimate of ($2.58) by $0.40. The firm had revenue of $487.03 million during the quarter, compared to the consensus estimate of $474.32 million. Genesco had a net margin of 0.80% and a return on equity of 2.66%. Genesco has set its FY 2027 guidance at 2.000-2.400 EPS. Equities analysts forecast that Genesco Inc. will post 2.25 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several brokerages have recently issued reports on GCO. Zacks Research cut Genesco from a “strong-buy” rating to a “hold” rating in a report on Friday, July 31st. Weiss Ratings downgraded Genesco from a “hold (c)” rating to a “sell (d+)” rating in a report on Friday, June 12th. Truist Financial set a $40.00 price objective on Genesco in a research report on Friday, May 29th. Wall Street Zen cut shares of Genesco from a “buy” rating to a “hold” rating in a research note on Saturday, June 13th. Finally, Seaport Research Partners downgraded shares of Genesco from a “buy” rating to a “neutral” rating in a report on Wednesday, May 27th. One research analyst has rated the stock with a Strong Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Genesco currently has an average rating of “Hold” and a consensus price target of $36.67.

Insider Buying and Selling

In other news, Director Gregory A. Sandfort bought 2,958 shares of Genesco stock in a transaction on Thursday, July 9th. The stock was acquired at an average price of $33.80 per share, with a total value of $99,980.40. Following the completion of the acquisition, the director directly owned 29,172 shares of the company’s stock, valued at $986,013.60. The trade was a 11.28% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 23.11% of the company’s stock.

Genesco Company Profile

Genesco Inc is a Nashville, Tennessee-based retailer, wholesaler and licensee specializing in branded footwear, headwear, apparel and accessories. Through its portfolio of retail chains, wholesale distribution channels and licensing agreements, Genesco brings a range of product offerings to consumers in North America and Europe.

The company’s retail segment includes specialty chains such as Journeys, which targets fashion-focused teens and young adults in the United States and Canada, and Schuh, a footwear retailer with locations in the United Kingdom and Ireland.