Empowered Funds LLC Purchases Shares of 93,214 Genesco Inc. $GCO

Empowered Funds LLC purchased a new position in shares of Genesco Inc. (NYSE:GCO) during the 2nd quarter, Holdings Channel.com reports. The fund purchased 93,214 shares of the company’s stock, valued at approximately $3,148,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Pzena Investment Management LLC acquired a new stake in shares of Genesco in the 2nd quarter valued at approximately $37,104,000. Fund 1 Investments LLC increased its holdings in Genesco by 3.5% during the fourth quarter. Fund 1 Investments LLC now owns 986,241 shares of the company’s stock worth $24,429,000 after buying an additional 33,044 shares during the last quarter. BlackRock Inc. acquired a new position in Genesco during the second quarter worth $30,730,000. Charles Schwab Investment Management Inc. raised its position in Genesco by 23.0% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 409,227 shares of the company’s stock worth $10,137,000 after acquiring an additional 76,494 shares in the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund raised its position in Genesco by 50.0% during the fourth quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 300,000 shares of the company’s stock worth $7,431,000 after acquiring an additional 100,000 shares in the last quarter. Institutional investors own 94.51% of the company’s stock.

Genesco Stock Down 2.9%

GCO stock opened at $32.49 on Wednesday. Genesco Inc. has a 1-year low of $21.92 and a 1-year high of $43.60. The business’s 50 day simple moving average is $35.53 and its 200 day simple moving average is $33.26. The company has a current ratio of 1.83, a quick ratio of 0.37 and a debt-to-equity ratio of 0.08. The firm has a market capitalization of $360.96 million, a PE ratio of 18.78 and a beta of 1.80.

Analysts Set New Price Targets

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

Insider Buying and Selling

In related news, Director Gregory A. Sandfort acquired 2,958 shares of Genesco stock in a transaction on Thursday, July 9th. The stock was purchased at an average cost of $33.80 per share, with a total value of $99,980.40. Following the completion of the transaction, the director directly owned 29,172 shares in the company, valued at $986,013.60. This trade represents a 11.28% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 23.11% of the stock is currently owned by company insiders.

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.