Bank of New York Mellon Corp Purchases New Position in Genesco Inc. $GCO

Key Points

• Bank of New York Mellon acquired 37,076 Genesco shares worth approximately $1.25 million, representing about 0.33% of the company. Institutional investors collectively own 94.51% of Genesco.
• Genesco reported quarterly EPS of -$0.83, beating estimates of -$1.37, while revenue of $529.86 million slightly exceeded expectations. The company issued fiscal 2027 EPS guidance of $2.00–$2.40.
• Genesco shares opened at $34.34, down 0.6%, while analyst sentiment remained mixed; the stock carries a “Moderate Buy” consensus rating and a $36 average price target.

Bank of New York Mellon Corp acquired a new position in shares of Genesco Inc. (NYSE:GCO - Free Report) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 37,076 shares of the company's stock, valued at approximately $1,252,000. Bank of New York Mellon Corp owned approximately 0.33% of Genesco as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently modified their holdings of the stock. Fund 1 Investments LLC raised its position in Genesco by 3.5% in the 4th quarter. Fund 1 Investments LLC now owns 986,241 shares of the company's stock valued at $24,429,000 after buying an additional 33,044 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of Genesco by 23.0% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 409,227 shares of the company's stock valued at $10,137,000 after purchasing an additional 76,494 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund lifted its position in shares of Genesco by 50.0% during the fourth quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 300,000 shares of the company's stock valued at $7,431,000 after purchasing an additional 100,000 shares in the last quarter. Arrowstreet Capital Limited Partnership grew its position in Genesco by 6.7% in the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 290,639 shares of the company's stock worth $8,426,000 after purchasing an additional 18,184 shares in the last quarter. Finally, Bridgeway Capital Management LLC increased its stake in Genesco by 29.7% in the 2nd quarter. Bridgeway Capital Management LLC now owns 238,252 shares of the company's stock valued at $4,691,000 after buying an additional 54,498 shares during the last quarter. Institutional investors own 94.51% of the company's stock.

Genesco Trading Down 0.6%

NYSE:GCO opened at $34.34 on Thursday. Genesco Inc. has a 1 year low of $21.92 and a 1 year high of $43.60. The stock's fifty day moving average price is $35.53 and its two-hundred day moving average price is $33.55. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.58 and a quick ratio of 0.32. The company has a market cap of $381.50 million, a P/E ratio of 8.94 and a beta of 1.80.

Genesco (NYSE:GCO - Get Free Report) last announced 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. The company had revenue of $529.86 million during the quarter, compared to analysts' expectations of $527.26 million. Genesco had a return on equity of 3.13% and a net margin of 1.71%.During the same period in the previous year, the business earned ($1.79) earnings per share. Genesco has set its FY 2027 guidance at 2.000-2.400 EPS. As a group, analysts expect that Genesco Inc. will post 2.35 EPS for the current year.

Insider Activity at Genesco

In other news, Director Gregory Sandfort acquired 2,958 shares of Genesco stock in a transaction that occurred on Thursday, July 9th. The stock was bought at an average price of $33.80 per share, with a total value of $99,980.40. Following the completion of the purchase, the director owned 29,172 shares in the company, valued at approximately $986,013.60. The trade was a 11.28% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 23.11% of the company's stock.

Analyst Ratings Changes

Several research firms have recently issued reports on GCO. Truist Financial reduced their target price on Genesco from $40.00 to $38.00 and set a "hold" rating for the company in a report on Friday, September 4th. Wall Street Zen lowered Genesco from a "buy" rating to a "hold" rating in a research report on Saturday, June 13th. Zacks Research raised shares of Genesco from a "hold" rating to a "strong-buy" rating in a report on Friday, September 4th. Seaport Research Partners lowered shares of Genesco from a "buy" rating to a "neutral" rating in a research report on Wednesday, May 27th. Finally, Weiss Ratings lowered shares of Genesco from a "hold (c)" rating to a "sell (d+)" rating in a research report on Friday, June 12th. Two 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, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $36.00.

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.

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