Arrowstreet Capital Limited Partnership Sells 86,265 Shares of Genesco Inc. $GCO

Key Points

• Arrowstreet Capital reduced its Genesco stake by 29.8%, selling 86,265 shares during the first quarter and retaining 203,472 shares worth approximately $5.9 million.
• Genesco reported quarterly revenue of $487.0 million and a loss of $2.18 per share, exceeding analysts’ expectations for revenue of $474.3 million and a loss of $2.58 per share.
• Genesco shares opened at $38.08, above the analyst consensus target of $36.67. Ratings remain mixed, resulting in a “Moderate Buy” consensus, while institutional investors own 94.51% of the stock.

Arrowstreet Capital Limited Partnership lowered its holdings in Genesco Inc. (NYSE:GCO - Free Report) by 29.8% in the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 203,472 shares of the company's stock after selling 86,265 shares during the quarter. Arrowstreet Capital Limited Partnership owned approximately 1.87% of Genesco worth $5,899,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in GCO. Shay Capital LLC purchased a new stake in Genesco in the second quarter worth $4,027,000. JPMorgan Chase & Co. increased its position in Genesco by 2,995.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 167,155 shares of the company's stock valued at $4,846,000 after purchasing an additional 161,755 shares during the period. MUFG Securities EMEA plc bought a new position in Genesco in the 2nd quarter worth $2,954,000. 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 purchasing an additional 121,814 shares in the last quarter. Finally, CIBC Bancorp USA Inc. bought a new position in Genesco in the 3rd quarter worth $2,930,000. 94.51% of the stock is currently owned by institutional investors.

Genesco Stock Performance

Shares of Genesco stock opened at $38.08 on Monday. Genesco Inc. has a 1 year low of $21.92 and a 1 year high of $43.60. The firm's 50-day moving average is $36.52 and its 200 day moving average is $32.74. The stock has a market cap of $423.07 million, a price-to-earnings ratio of 22.01 and a beta of 1.83. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.83 and a quick ratio of 0.37.

Genesco (NYSE:GCO - Get Free Report) last released its quarterly earnings data on Friday, May 29th. The company reported ($2.18) earnings per share for the quarter, beating analysts' consensus estimates of ($2.58) by $0.40. The business had revenue of $487.03 million during the quarter, compared to analyst estimates of $474.32 million. Genesco had a net margin of 0.80% and a return on equity of 2.66%. Genesco has set its FY 2027 guidance at 2.000-2.400 EPS. Sell-side analysts anticipate that Genesco Inc. will post 2.25 EPS for the current fiscal year.

Insider Buying and Selling

In other Genesco news, Director Gregory A. Sandfort bought 2,958 shares of the business's stock in a transaction on Thursday, July 9th. The shares were acquired at an average cost of $33.80 per share, for a total transaction of $99,980.40. Following the purchase, 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 purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 23.11% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on GCO. Truist Financial set a $40.00 target price on shares of Genesco in a research note on Friday, May 29th. Weiss Ratings downgraded shares of Genesco from a "hold (c)" rating to a "sell (d+)" rating in a research note on Friday, June 12th. Wall Street Zen lowered shares of Genesco from a "buy" rating to a "hold" rating in a report on Saturday, June 13th. Zacks Research raised Genesco from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, June 2nd. Finally, Seaport Research Partners lowered Genesco from a "buy" rating to a "neutral" rating in a research report on Wednesday, May 27th. Two investment analysts have rated the stock with a Strong Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, Genesco has an average rating of "Moderate Buy" and a consensus target price 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.

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