Genesco (NYSE:GCO) Director Gregory Sandfort Purchases 2,958 Shares

Genesco Inc. (NYSE:GCO) Director Gregory Sandfort bought 2,958 shares of the company’s stock in a transaction dated Thursday, July 9th. The shares were acquired at an average price of $33.80 per share, for a total transaction of $99,980.40. Following the acquisition, the director owned 29,172 shares in the company, valued at approximately $986,013.60. This represents a 11.28% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Genesco Stock Up 0.5%

NYSE:GCO opened at $34.28 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 price is $35.59 and its 200-day moving average price is $31.70. The company has a market capitalization of $380.91 million, a PE ratio of 19.82 and a beta of 1.83. Genesco Inc. has a 1-year low of $21.55 and a 1-year high of $43.60.

Genesco (NYSE:GCO) last issued its quarterly earnings results on Friday, May 29th. The company reported ($2.18) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($2.58) by $0.40. Genesco had a net margin of 0.80% and a return on equity of 2.66%. The company had revenue of $487.03 million during the quarter, compared to analysts’ expectations of $474.32 million. Genesco has set its FY 2027 guidance at 2.000-2.400 EPS. On average, equities analysts predict that Genesco Inc. will post 2.25 EPS for the current fiscal year.

Institutional Trading of Genesco

A number of institutional investors and hedge funds have recently bought and sold shares of GCO. Arrowstreet Capital Limited Partnership raised its holdings in Genesco by 371.2% in the second quarter. Arrowstreet Capital Limited Partnership now owns 272,455 shares of the company’s stock worth $5,365,000 after buying an additional 214,639 shares during the last quarter. Shay Capital LLC purchased a new stake in shares of Genesco during the second quarter valued at approximately $4,027,000. JPMorgan Chase & Co. increased its position in shares of Genesco by 2,995.5% during the third quarter. JPMorgan Chase & Co. now owns 167,155 shares of the company’s stock valued at $4,846,000 after acquiring an additional 161,755 shares in the last quarter. MUFG Securities EMEA plc bought a new stake in shares of Genesco during the second quarter valued at approximately $2,954,000. Finally, Marshall Wace LLP raised its holdings in Genesco by 232.5% in the 4th quarter. Marshall Wace LLP now owns 174,218 shares of the company’s stock worth $4,315,000 after acquiring an additional 121,814 shares during the last quarter. 94.51% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on GCO. Wall Street Zen lowered shares of Genesco from a “buy” rating to a “hold” rating in a report on Saturday, June 13th. Zacks Research upgraded Genesco from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, June 2nd. Seaport Research Partners lowered Genesco from a “buy” rating to a “neutral” rating in a research report on Wednesday, May 27th. Truist Financial set a $40.00 price objective on Genesco in a research note on Friday, May 29th. Finally, Weiss Ratings cut Genesco from a “hold (c)” rating to a “sell (d+)” rating in a research note on Friday, June 12th. Two equities research analysts have rated the stock with a Strong Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Genesco has an average rating of “Moderate Buy” and a consensus price target of $36.67.

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.