Connor Clark & Lunn Investment Management Ltd. bought a new position in Genesco Inc. (NYSE:GCO - Free Report) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 94,474 shares of the company's stock, valued at approximately $3,190,000. Connor Clark & Lunn Investment Management Ltd. owned 0.85% of Genesco at the end of the most recent reporting period.
Other institutional investors have also made changes to their positions in the company. Pzena Investment Management LLC purchased a new stake in shares of Genesco in the 2nd quarter valued at approximately $37,104,000. BlackRock Inc. purchased a new position in Genesco during the 2nd quarter worth approximately $30,730,000. Arrowstreet Capital Limited Partnership grew its position in Genesco by 371.2% during the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 272,455 shares of the company's stock worth $5,365,000 after purchasing an additional 214,639 shares in the last quarter. Shay Capital LLC acquired a new stake in Genesco during the 2nd quarter valued at $4,027,000. Finally, JPMorgan Chase & Co. raised its stake 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. 94.51% of the stock is owned by hedge funds and other institutional investors.
Analyst Ratings Changes
Several brokerages have recently commented on GCO. Wall Street Zen cut Genesco from a "buy" rating to a "hold" rating in a research report on Saturday, June 13th. Seaport Research Partners downgraded Genesco from a "buy" rating to a "neutral" rating in a research note on Wednesday, May 27th. 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 price objective on shares of Genesco in a research note on Friday, May 29th. Finally, Weiss Ratings downgraded shares of Genesco from a "hold (c)" rating to a "sell (d+)" rating in a research report on Friday, June 12th. One analyst has rated the stock with a Strong Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $36.67.
View Our Latest Research Report on GCO
Insider Buying and Selling
In other Genesco news, Director Gregory A. Sandfort purchased 2,958 shares of the company's stock in a transaction dated Thursday, July 9th. The shares were bought at an average price of $33.80 per share, for a total transaction of $99,980.40. Following the purchase, the director directly owned 29,172 shares in the company, valued at $986,013.60. This trade represents a 11.28% increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. 23.11% of the stock is owned by corporate insiders.
Genesco Stock Up 0.8%
GCO opened at $33.26 on Friday. The company has a market capitalization of $369.52 million, a PE ratio of 19.23 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 Inc. has a fifty-two week low of $21.92 and a fifty-two week high of $43.60. The business has a 50-day moving average of $35.60 and a 200-day moving average of $33.17.
Genesco (NYSE:GCO - Get Free Report) last announced its quarterly earnings results on Friday, May 29th. The company reported ($2.18) EPS for the quarter, beating the consensus estimate of ($2.58) by $0.40. Genesco had a return on equity of 2.66% and a net margin of 0.80%.The business had revenue of $487.03 million during the quarter, compared to analysts' expectations of $474.32 million. Equities research analysts forecast that Genesco Inc. will post 2.25 EPS for the current fiscal year.
Genesco Profile
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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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