Connor Clark & Lunn Investment Management Ltd. Decreases Position in Genesco Inc. $GCO

Key Points

• Connor Clark & Lunn Investment Management Ltd. reduced its holdings in Genesco Inc. by 57.1%, now owning 10,896 shares valued at $231,000 after selling 14,532 shares in the first quarter.
• Other institutional investors have modified their positions in Genesco, including Vanguard Group, which increased its holdings by 23.9%, now owning 899,123 shares valued at $19,088,000.
• Genesco reported a quarterly earnings per share of ($2.05), beating analysts' expectations, and achieved revenues of $473.97 million, exceeding anticipated figures.

Connor Clark & Lunn Investment Management Ltd. decreased its holdings in Genesco Inc. (NYSE:GCO - Free Report) by 57.1% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 10,896 shares of the company's stock after selling 14,532 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned approximately 0.10% of Genesco worth $231,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Price T Rowe Associates Inc. MD increased its holdings in shares of Genesco by 4.7% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 14,392 shares of the company's stock worth $616,000 after buying an additional 650 shares during the last quarter. Bank of New York Mellon Corp increased its holdings in shares of Genesco by 2.1% during the 1st quarter. Bank of New York Mellon Corp now owns 33,737 shares of the company's stock worth $716,000 after buying an additional 702 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Genesco during the 4th quarter worth approximately $35,000. Wells Fargo & Company MN increased its holdings in shares of Genesco by 28.1% during the 4th quarter. Wells Fargo & Company MN now owns 5,846 shares of the company's stock worth $250,000 after buying an additional 1,281 shares during the last quarter. Finally, Barclays PLC increased its holdings in shares of Genesco by 7.2% during the 4th quarter. Barclays PLC now owns 22,228 shares of the company's stock worth $950,000 after buying an additional 1,498 shares during the last quarter. Institutional investors and hedge funds own 94.51% of the company's stock.

Genesco Trading Up 12.6%

Shares of NYSE:GCO traded up $3.60 during mid-day trading on Tuesday, reaching $32.06. 775,864 shares of the company were exchanged, compared to its average volume of 175,050. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.91 and a quick ratio of 0.55. The firm has a market cap of $345.55 million, a price-to-earnings ratio of -20.55 and a beta of 2.25. The firm's 50-day simple moving average is $23.92 and its 200 day simple moving average is $24.24. Genesco Inc. has a 1 year low of $16.19 and a 1 year high of $44.80.

Genesco (NYSE:GCO - Get Free Report) last posted its quarterly earnings data on Wednesday, June 4th. The company reported ($2.05) earnings per share for the quarter, topping analysts' consensus estimates of ($2.09) by $0.04. The firm had revenue of $473.97 million during the quarter, compared to analysts' expectations of $463.90 million. Genesco had a negative net margin of 0.67% and a positive return on equity of 2.22%. The firm's quarterly revenue was up 3.6% on a year-over-year basis. During the same quarter last year, the company posted ($2.10) EPS. Genesco has set its FY 2026 guidance at 1.300-1.700 EPS. Equities research analysts forecast that Genesco Inc. will post 0.94 EPS for the current year.

Insider Buying and Selling at Genesco

In related news, major shareholder Fund 1 Investments, Llc sold 25,000 shares of the stock in a transaction that occurred on Thursday, June 5th. The shares were sold at an average price of $23.26, for a total transaction of $581,500.00. Following the completion of the transaction, the insider owned 1,072,850 shares of the company's stock, valued at approximately $24,954,491. This trade represents a 2.28% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 23.11% of the company's stock.

Analyst Ratings Changes

GCO has been the subject of a number of recent analyst reports. Jefferies Financial Group restated a "hold" rating and set a $24.00 price target (down previously from $27.00) on shares of Genesco in a report on Wednesday, May 21st. Wall Street Zen downgraded shares of Genesco from a "buy" rating to a "hold" rating in a report on Friday, May 30th. Finally, Truist Financial raised their price target on shares of Genesco from $23.00 to $25.00 and gave the stock a "hold" rating in a report on Thursday, June 5th. Two analysts have rated the stock with a Hold rating, According to MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $24.50.

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.