Genesco Inc. $GCO Holdings Boosted by Cubist Systematic Strategies LLC

Cubist Systematic Strategies LLC increased its stake in shares of Genesco Inc. (NYSE:GCO - Free Report) by 269.8% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 61,067 shares of the company's stock after purchasing an additional 44,552 shares during the quarter. Cubist Systematic Strategies LLC owned 0.55% of Genesco worth $1,296,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Nomura Holdings Inc. acquired a new position in Genesco during the 1st quarter worth approximately $16,163,000. Vanguard Group Inc. raised its position in shares of Genesco by 23.9% in the 1st quarter. Vanguard Group Inc. now owns 899,123 shares of the company's stock worth $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% in the 1st quarter. SG Americas Securities LLC now owns 125,212 shares of the company's stock worth $2,658,000 after buying an additional 122,620 shares during the period. American Century Companies Inc. increased its holdings in Genesco by 23.5% in the 1st quarter. American Century Companies Inc. now owns 341,837 shares of the company's stock valued at $7,257,000 after purchasing an additional 65,030 shares in the last quarter. Finally, Nuveen LLC acquired a new stake in shares of Genesco during the first quarter valued at about $753,000. 94.51% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on GCO shares. Wall Street Zen downgraded Genesco from a "buy" rating to a "hold" rating in a research note on Friday, May 30th. Seaport Res Ptn upgraded Genesco from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, August 26th. Jefferies Financial Group lifted their price target on Genesco from $24.00 to $29.00 and gave the stock a "hold" rating in a research note on Friday, August 29th. Zacks Research upgraded Genesco from a "hold" rating to a "strong-buy" rating in a research note on Friday, August 29th. Finally, Truist Financial lifted their target price on Genesco from $25.00 to $31.00 and gave the company a "hold" rating in a research note on Friday, August 29th. Two analysts have rated the stock with a Strong Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Buy" and a consensus target price of $30.00.

Genesco Stock Performance

Shares of GCO traded down $0.67 during mid-day trading on Friday, reaching $33.17. 221,075 shares of the company's stock traded hands, compared to its average volume of 225,278. The business's 50-day moving average price is $26.85 and its 200-day moving average price is $23.66. The stock has a market capitalization of $357.57 million, a P/E ratio of -13.59 and a beta of 2.22. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.35 and a current ratio of 1.56. Genesco Inc. has a 12 month low of $16.19 and a 12 month high of $44.80.

Genesco (NYSE:GCO - Get Free Report) last announced its 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. Genesco had a positive return on equity of 1.75% and a negative net margin of 1.03%.The firm had revenue of $545.97 million for the quarter, compared to analysts' expectations of $531.89 million. During the same quarter in the previous year, the company earned ($0.83) earnings per share. The firm's quarterly revenue was up 4.0% compared to the same quarter last year. Genesco has set its FY 2026 guidance at 1.300-1.700 EPS. Equities analysts predict that Genesco Inc. will post 0.94 earnings per share for the current year.

About Genesco

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.