Assenagon Asset Management S.A. Decreases Stock Holdings in Genesco Inc. $GCO

Key Points

• Assenagon Asset Management S.A. reduced its holdings in Genesco Inc. by 26.4%, now owning 23,738 shares valued at approximately $467,000.
• Genesco posted a quarterly EPS of ($1.14), exceeding expectations and noting a 4.0% increase in revenue year-over-year.
• Recent analyst ratings for Genesco include upgrades, with Zacks Research and Seaport Res Ptn raising their ratings to strong-buy and an average price target now at $30.00.

Assenagon Asset Management S.A. lessened its position in shares of Genesco Inc. (NYSE:GCO - Free Report) by 26.4% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 23,738 shares of the company's stock after selling 8,504 shares during the quarter. Assenagon Asset Management S.A. owned about 0.22% of Genesco worth $467,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in GCO. Nomura Holdings Inc. purchased a new stake in shares of Genesco during the 1st quarter valued at approximately $16,163,000. Vanguard Group Inc. raised its position in shares of Genesco by 23.9% during the 1st quarter. Vanguard Group Inc. now owns 899,123 shares of the company's stock valued at $19,088,000 after buying an additional 173,255 shares during the period. SG Americas Securities LLC raised its position in shares of Genesco by 4,730.7% during the 1st quarter. SG Americas Securities LLC now owns 125,212 shares of the company's stock valued at $2,658,000 after buying an additional 122,620 shares during the period. Bridgeway Capital Management LLC raised its position in shares of Genesco by 89.0% during the 1st quarter. Bridgeway Capital Management LLC now owns 183,754 shares of the company's stock valued at $3,901,000 after buying an additional 86,553 shares during the period. Finally, American Century Companies Inc. raised its position in shares of Genesco by 23.5% during the 1st quarter. American Century Companies Inc. now owns 341,837 shares of the company's stock valued at $7,257,000 after buying an additional 65,030 shares during the period. Hedge funds and other institutional investors own 94.51% of the company's stock.

Genesco Stock Performance

NYSE:GCO opened at $30.29 on Monday. The company has a fifty day simple moving average of $28.81 and a two-hundred day simple moving average of $23.89. The company has a market cap of $327.18 million, a price-to-earnings ratio of -12.42 and a beta of 2.22. The company has a quick ratio of 0.35, a current ratio of 1.56 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.

Genesco (NYSE:GCO - Get Free Report) last posted its quarterly earnings results on Thursday, August 28th. The company reported ($1.14) EPS for the quarter, topping the consensus estimate of ($1.25) by $0.11. The business had revenue of $545.97 million during the quarter, compared to the consensus estimate of $531.89 million. Genesco had a negative net margin of 1.03% and a positive return on equity of 1.75%. The company's quarterly revenue was up 4.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.83) earnings per share. 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.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on GCO. Truist Financial boosted their target price on Genesco from $25.00 to $31.00 and gave the company a "hold" rating in a research report on Friday, August 29th. Jefferies Financial Group boosted their target price on Genesco from $24.00 to $29.00 and gave the company a "hold" rating in a research report on Friday, August 29th. Zacks Research raised Genesco from a "hold" rating to a "strong-buy" rating in a research report on Friday, August 29th. Finally, Seaport Res Ptn raised Genesco from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, August 26th. Two analysts have rated the stock with a Strong Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Buy" and an average price target of $30.00.

Genesco Company 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.

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