Public Employees Retirement System of Ohio Takes $680,000 Position in Genesco Inc. $GCO

Public Employees Retirement System of Ohio bought a new position in shares of Genesco Inc. (NYSE:GCO) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 20,140 shares of the company’s stock, valued at approximately $680,000. Public Employees Retirement System of Ohio owned about 0.18% of Genesco at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the business. Royal Bank of Canada boosted its stake in shares of Genesco by 15.4% during the 1st quarter. Royal Bank of Canada now owns 52,848 shares of the company’s stock worth $1,122,000 after buying an additional 7,042 shares during the last quarter. Jones Financial Companies Lllp acquired a new stake in shares of Genesco in the first quarter valued at about $26,000. Empowered Funds LLC raised its holdings in Genesco by 5.3% during the first quarter. Empowered Funds LLC now owns 64,783 shares of the company’s stock worth $1,375,000 after acquiring an additional 3,282 shares in the last quarter. Cetera Investment Advisers acquired a new position in Genesco during the second quarter valued at approximately $208,000. Finally, Russell Investments Group Ltd. grew its stake in 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 purchasing an additional 4,268 shares in the last quarter. Institutional investors own 94.51% of the company’s stock.

Genesco Stock Performance

Shares of GCO stock opened at $34.34 on Thursday. Genesco Inc. has a 52 week low of $21.92 and a 52 week high of $43.60. The company has a market capitalization of $381.50 million, a price-to-earnings ratio of 8.94 and a beta of 1.80. The company has a 50-day simple moving average of $35.53 and a 200 day simple moving average of $33.55. The company has a debt-to-equity ratio of 0.03, a quick ratio of 0.32 and a current ratio of 1.58.

Genesco (NYSE:GCO) last released its quarterly earnings results on Thursday, September 3rd. The company reported ($0.83) earnings per share for the quarter, beating the consensus estimate of ($1.37) by $0.54. Genesco had a net margin of 1.71% and a return on equity of 3.13%. The firm had revenue of $529.86 million for the quarter, compared to analysts’ expectations of $527.26 million. During the same period in the prior year, the firm earned ($1.79) EPS. Genesco has set its FY 2027 guidance at 2.000-2.400 EPS. On average, sell-side analysts predict that Genesco Inc. will post 2.35 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on GCO shares. Wall Street Zen downgraded Genesco from a “buy” rating to a “hold” rating in a report on Saturday, June 13th. Truist Financial cut their price target on shares of Genesco from $40.00 to $38.00 and set a “hold” rating for the company in a research note on Friday, September 4th. Seaport Research Partners lowered shares of Genesco from a “buy” rating to a “neutral” rating in a research note on Wednesday, May 27th. Zacks Research raised shares of Genesco from a “hold” rating to a “strong-buy” rating in a report on Friday, September 4th. Finally, Weiss Ratings downgraded shares of Genesco from a “hold (c)” rating to a “sell (d+)” rating in a research note on Friday, June 12th. Two analysts have rated the stock with a Strong Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $36.00.

Insiders Place Their Bets

In other news, Director Gregory Sandfort purchased 2,958 shares of the company’s stock in a transaction that occurred on Thursday, July 9th. The stock was acquired at an average cost of $33.80 per share, with a total value of $99,980.40. Following the acquisition, the director owned 29,172 shares in the company, valued at approximately $986,013.60. This trade represents a 11.28% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 23.11% of the company’s stock.

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.