BlackRock Inc. purchased a new position in shares of Genesco Inc. (NYSE:GCO - Free Report) in the second quarter, according to its most recent disclosure with the SEC. The firm purchased 909,991 shares of the company's stock, valued at approximately $30,730,000. BlackRock Inc. owned approximately 8.19% of Genesco at the end of the most recent reporting period.
Other institutional investors have also made changes to their positions in the company. New York State Teachers Retirement System acquired a new position in Genesco in the 1st quarter valued at $27,000. Group One Trading LLC acquired a new position in Genesco during the 4th quarter worth $26,000. Optiver Holding B.V. lifted its position in Genesco by 550.6% during the 1st quarter. Optiver Holding B.V. now owns 1,106 shares of the company's stock worth $32,000 after acquiring an additional 936 shares during the last quarter. Jones Financial Companies Lllp acquired a new position in Genesco during the 1st quarter worth $26,000. Finally, Meeder Asset Management Inc. bought a new stake in Genesco during the fourth quarter valued at about $37,000. 94.51% of the stock is currently owned by institutional investors and hedge funds.
Genesco Stock Down 2.9%
Shares of NYSE:GCO opened at $32.49 on Wednesday. Genesco Inc. has a one year low of $21.92 and a one year high of $43.60. The company has a 50 day moving average of $35.53 and a 200-day moving average of $33.26. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.83 and a quick ratio of 0.37. The stock has a market cap of $360.96 million, a price-to-earnings ratio of 18.78 and a beta of 1.80.
Insider Transactions at Genesco
In other Genesco news, Director Gregory A. Sandfort bought 2,958 shares of the stock in a transaction on Thursday, July 9th. The stock was purchased at an average price of $33.80 per share, with a total value of $99,980.40. Following the acquisition, the director owned 29,172 shares of the company's stock, 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 document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 23.11% of the company's stock.
Analyst Upgrades and Downgrades
A number of research analysts have recently commented on the stock. Zacks Research lowered shares of Genesco from a "strong-buy" rating to a "hold" rating in a research report on Friday, July 31st. Truist Financial set a $40.00 target price on Genesco in a report on Friday, May 29th. Seaport Research Partners downgraded Genesco from a "buy" rating to a "neutral" rating in a research report on Wednesday, May 27th. Wall Street Zen lowered Genesco from a "buy" rating to a "hold" rating in a research note on Saturday, June 13th. Finally, Weiss Ratings lowered Genesco from a "hold (c)" rating to a "sell (d+)" rating in a research note on Friday, June 12th. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $36.67.
View Our Latest Stock Report on GCO
About Genesco
(
Free Report)
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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