Pzena Investment Management LLC Acquires Shares of 1,098,722 Genesco Inc. $GCO

Pzena Investment Management LLC bought a new position in shares of Genesco Inc. (NYSE:GCO) during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund bought 1,098,722 shares of the company’s stock, valued at approximately $37,104,000. Pzena Investment Management LLC owned about 0.10% of Genesco as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Group One Trading LLC acquired a new stake in shares of Genesco in the fourth quarter valued at about $26,000. Jones Financial Companies Lllp acquired a new position in Genesco during the first quarter worth about $26,000. New York State Teachers Retirement System acquired a new position in Genesco during the first quarter worth about $27,000. Optiver Holding B.V. grew its stake in Genesco by 550.6% during the 1st quarter. Optiver Holding B.V. now owns 1,106 shares of the company’s stock valued at $32,000 after acquiring an additional 936 shares in the last quarter. Finally, Meeder Asset Management Inc. purchased a new stake in Genesco during the 4th quarter valued at about $37,000. Hedge funds and other institutional investors own 94.51% of the company’s stock.

Genesco Price Performance

Shares of GCO stock opened at $34.49 on Tuesday. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.83 and a quick ratio of 0.37. The firm’s 50-day moving average is $36.32 and its two-hundred day moving average is $32.87. Genesco Inc. has a 12 month low of $21.92 and a 12 month high of $43.60. The company has a market capitalization of $383.18 million, a PE ratio of 19.94 and a beta of 1.83.

Genesco (NYSE:GCO) last posted its quarterly earnings results on Friday, May 29th. The company reported ($2.18) earnings per share for the quarter, beating the consensus estimate of ($2.58) by $0.40. The business had revenue of $487.03 million during the quarter, compared to analysts’ expectations 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. Analysts predict that Genesco Inc. will post 2.25 earnings per share for the current year.

Analysts Set New Price Targets

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

Insider Buying and Selling

In other Genesco news, Director Gregory A. Sandfort bought 2,958 shares of Genesco stock in a transaction on Thursday, July 9th. The shares were bought at an average price of $33.80 per share, for a total transaction of $99,980.40. Following the completion of the transaction, the director directly owned 29,172 shares of the company’s stock, valued at $986,013.60. This trade represents a 11.28% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this link. 23.11% of the stock is owned by corporate insiders.

About Genesco

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.