Genesco Inc. $GCO Shares Purchased by American Century Companies Inc.

Key Points

• American Century Companies Inc. increased its stake in Genesco Inc. by 23.5%, acquiring an additional 65,030 shares, bringing its total holdings to 341,837 shares valued at approximately $7.26 million.
• Latest earnings results showed Genesco reported earnings of ($2.05) per share, surpassing analysts' expectations, with revenue growth of 3.6% year-over-year.
• Institutional investors and hedge funds own 94.51% of Genesco's stock, reflecting significant confidence in the company's potential despite mixed analyst ratings on the stock.

American Century Companies Inc. increased its holdings in shares of Genesco Inc. (NYSE:GCO - Free Report) by 23.5% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 341,837 shares of the company's stock after acquiring an additional 65,030 shares during the period. American Century Companies Inc. owned approximately 3.10% of Genesco worth $7,257,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. BNP Paribas Financial Markets grew its holdings in Genesco by 38.6% during the fourth quarter. BNP Paribas Financial Markets now owns 42,708 shares of the company's stock worth $1,826,000 after acquiring an additional 11,900 shares during the period. Silver Oak Securities Incorporated acquired a new position in Genesco during the first quarter worth $293,000. Ameriprise Financial Inc. grew its holdings in Genesco by 32.7% during the fourth quarter. Ameriprise Financial Inc. now owns 65,625 shares of the company's stock worth $2,805,000 after acquiring an additional 16,161 shares during the period. Mackenzie Financial Corp acquired a new position in Genesco during the fourth quarter worth $596,000. Finally, SG Americas Securities LLC grew its holdings in Genesco by 4,730.7% during the first quarter. SG Americas Securities LLC now owns 125,212 shares of the company's stock worth $2,658,000 after acquiring an additional 122,620 shares during the period. Institutional investors and hedge funds own 94.51% of the company's stock.

Genesco Price Performance

Shares of NYSE:GCO traded down $0.00 on Tuesday, hitting $31.98. The company had a trading volume of 230,263 shares, compared to its average volume of 217,255. The company has a current ratio of 1.56, a quick ratio of 0.55 and a debt-to-equity ratio of 0.11. Genesco Inc. has a 52-week low of $16.19 and a 52-week high of $44.80. The business has a 50 day moving average of $24.98 and a 200 day moving average of $23.98. The company has a market cap of $344.71 million, a PE ratio of -13.11 and a beta of 2.22.

Genesco (NYSE:GCO - Get Free Report) last issued its quarterly earnings data on Thursday, August 28th. The company reported ($1.14) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.25) by $0.11. Genesco had a positive return on equity of 1.75% and a negative net margin of 1.03%.The business had revenue of $545.97 million for the quarter, compared to the consensus estimate of $531.89 million. During the same period in the prior year, the business earned ($0.83) earnings per share. The business's revenue was up 4.0% on a year-over-year basis. Genesco has set its FY 2026 guidance at 1.300-1.700 EPS. As a group, equities analysts anticipate that Genesco Inc. will post 0.94 earnings per share for the current fiscal year.

Insider Activity

In other news, major shareholder Fund 1 Investments, Llc sold 25,000 shares of the company's stock in a transaction on Thursday, June 5th. The stock was sold at an average price of $23.26, for a total value of $581,500.00. Following the sale, the insider directly owned 1,072,850 shares in the company, valued at $24,954,491. This represents a 2.28% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 23.11% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on GCO. Truist Financial upped their price objective on Genesco from $25.00 to $31.00 and gave the stock a "hold" rating in a report on Friday. Seaport Res Ptn raised Genesco from a "hold" rating to a "strong-buy" rating in a report on Tuesday, August 26th. Wall Street Zen downgraded Genesco from a "buy" rating to a "hold" rating in a research report on Friday, May 30th. Finally, Jefferies Financial Group boosted their target price on Genesco from $24.00 to $29.00 and gave the stock a "hold" rating in a research report on Friday. One investment analyst has rated the stock with a Strong Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $30.00.

Genesco Profile

Genesco Inc operates as a retailer and wholesaler of footwear, apparel, and accessories in the United States, Puerto Rico, Canada, the United Kingdom, and the Republic of Ireland. The company operates through four segments: Journeys Group, Schuh Group, Johnston & Murphy Group, and Genesco Brands.