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

Pzena Investment Management LLC trimmed its holdings in Genesco Inc. (NYSE:GCO) by 10.2% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,243,696 shares of the company’s stock after selling 141,922 shares during the period. Pzena Investment Management LLC owned 11.53% of Genesco worth $30,806,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also modified their holdings of the company. Jones Financial Companies Lllp acquired a new stake in shares of Genesco in the first quarter valued at about $26,000. BNP Paribas Financial Markets raised its position in shares of Genesco by 92.3% in the third quarter. BNP Paribas Financial Markets now owns 1,960 shares of the company’s stock valued at $57,000 after buying an additional 941 shares during the last quarter. Quarry LP raised its position in shares of Genesco by 182.2% in the third quarter. Quarry LP now owns 1,964 shares of the company’s stock valued at $57,000 after buying an additional 1,268 shares during the last quarter. Tower Research Capital LLC TRC raised its position in shares of Genesco by 37.3% in the second quarter. Tower Research Capital LLC TRC now owns 5,514 shares of the company’s stock valued at $109,000 after buying an additional 1,499 shares during the last quarter. Finally, New York State Common Retirement Fund raised its position in shares of 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 valued at $139,000 after buying an additional 4,700 shares during the last quarter. 94.51% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

Genesco Price Performance

Shares of GCO opened at $35.52 on Friday. The company has a market cap of $385.74 million, a P/E ratio of 31.43 and a beta of 1.82. Genesco Inc. has a fifty-two week low of $19.62 and a fifty-two week high of $38.95. The company has a quick ratio of 0.49, a current ratio of 1.64 and a debt-to-equity ratio of 0.01. The firm’s 50 day moving average price is $31.21 and its 200 day moving average price is $29.79.

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

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.