UBS Group AG Acquires 48,436 Shares of Genesco Inc. $GCO

UBS Group AG raised its holdings in shares of Genesco Inc. (NYSE:GCO) by 38.3% in the 4th quarter, Holdings Channel reports. The firm owned 174,947 shares of the company’s stock after purchasing an additional 48,436 shares during the quarter. UBS Group AG’s holdings in Genesco were worth $4,333,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in GCO. Royal Bank of Canada lifted its position in shares of Genesco by 15.4% during the first quarter. Royal Bank of Canada now owns 52,848 shares of the company’s stock worth $1,122,000 after purchasing an additional 7,042 shares during the last quarter. Jones Financial Companies Lllp bought a new stake in shares of Genesco in the first quarter valued at about $26,000. Empowered Funds LLC raised its holdings in shares of Genesco by 5.3% in the first quarter. Empowered Funds LLC now owns 64,783 shares of the company’s stock valued at $1,375,000 after acquiring an additional 3,282 shares in the last quarter. Cetera Investment Advisers bought a new stake in shares of Genesco in the second quarter valued at about $208,000. Finally, Russell Investments Group Ltd. raised its holdings in shares of Genesco by 31.4% in the second quarter. Russell Investments Group Ltd. now owns 17,845 shares of the company’s stock valued at $351,000 after acquiring an additional 4,268 shares in the last quarter. 94.51% of the stock is currently owned by institutional investors.

Genesco Price Performance

GCO opened at $36.98 on Friday. The business’s 50-day moving average is $31.43 and its two-hundred day moving average is $29.84. Genesco Inc. has a 1 year low of $19.62 and a 1 year high of $38.95. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.64 and a quick ratio of 0.49. The firm has a market capitalization of $401.55 million, a PE ratio of 32.72 and a beta of 1.82.

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

Analysts Set New Price Targets

GCO has been the subject of several recent research reports. Wall Street Zen downgraded Genesco from a “buy” rating to a “hold” rating in a report on Saturday, May 16th. Weiss Ratings upgraded Genesco from a “hold (c-)” rating to a “hold (c)” rating in a report on Friday, May 15th. Truist Financial decreased their price objective on Genesco from $38.00 to $32.00 and set a “hold” rating for the company in a report on Monday, March 9th. Finally, Jefferies Financial Group restated a “hold” rating on shares of Genesco in a report on Friday, March 6th. One equities research analyst has rated the stock with a Strong Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $34.00.

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.