Genesco Inc. $GCO Shares Sold by Pzena Investment Management LLC

Pzena Investment Management LLC cut its holdings in shares of Genesco Inc. (NYSE:GCO) by 10.2% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,243,696 shares of the company’s stock after selling 141,922 shares during the quarter. Pzena Investment Management LLC owned 0.12% of Genesco worth $30,806,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in GCO. Jones Financial Companies Lllp purchased a new position in Genesco in the first quarter worth approximately $26,000. BNP Paribas Financial Markets lifted its stake in Genesco by 92.3% in the third quarter. BNP Paribas Financial Markets now owns 1,960 shares of the company’s stock worth $57,000 after acquiring an additional 941 shares during the last quarter. Quarry LP lifted its stake in Genesco by 182.2% in the third quarter. Quarry LP now owns 1,964 shares of the company’s stock worth $57,000 after acquiring an additional 1,268 shares during the last quarter. Tower Research Capital LLC TRC lifted its stake in Genesco by 37.3% in the second quarter. Tower Research Capital LLC TRC now owns 5,514 shares of the company’s stock worth $109,000 after acquiring an additional 1,499 shares during the last quarter. Finally, New York State Common Retirement Fund lifted its stake in Genesco by 5,053.8% in the third quarter. New York State Common Retirement Fund now owns 4,793 shares of the company’s stock worth $139,000 after acquiring an additional 4,700 shares during the last quarter. Hedge funds and other institutional investors own 94.51% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on GCO. Weiss Ratings upgraded shares of Genesco from a “hold (c-)” rating to a “hold (c)” rating in a research note on Friday, May 15th. Truist Financial decreased their price target on shares of Genesco from $38.00 to $32.00 and set a “hold” rating for the company in a research note on Monday, March 9th. Jefferies Financial Group reiterated a “hold” rating on shares of Genesco in a research note on Friday, March 6th. Finally, Wall Street Zen downgraded shares of Genesco from a “buy” rating to a “hold” rating in a research note on Saturday, May 16th. One investment analyst has rated the stock with a Strong Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $34.00.

Genesco Stock Up 6.4%

GCO stock opened at $35.52 on Friday. The company has a current ratio of 1.64, a quick ratio of 0.49 and a debt-to-equity ratio of 0.01. Genesco Inc. has a twelve month low of $19.62 and a twelve month high of $38.95. The company’s 50 day moving average is $31.21 and its two-hundred day moving average is $29.79. The stock has a market cap of $385.74 million, a P/E ratio of 31.43 and a beta of 1.82.

Genesco (NYSE:GCO) last released its quarterly earnings data on Friday, March 6th. The company reported $3.74 earnings per share for the quarter, topping analysts’ consensus estimates of $3.73 by $0.01. Genesco had a net margin of 0.54% and a return on equity of 2.92%. The company had revenue of $799.94 million for the quarter, compared to analysts’ expectations of $476.67 million. Genesco has set its FY 2027 guidance at 1.900-2.300 EPS. Research analysts expect that Genesco Inc. will post 2.15 earnings per share for the current fiscal year.

Genesco 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.