Charles Schwab Investment Management Inc. decreased its stake in shares of Genesco Inc. (NYSE:GCO - Free Report) by 8.0% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 145,502 shares of the company's stock after selling 12,669 shares during the quarter. Charles Schwab Investment Management Inc. owned approximately 1.32% of Genesco worth $3,089,000 as of its most recent SEC filing.
Other large investors also recently added to or reduced their stakes in the company. Wells Fargo & Company MN increased its stake in shares of Genesco by 28.1% during the fourth quarter. Wells Fargo & Company MN now owns 5,846 shares of the company's stock valued at $250,000 after buying an additional 1,281 shares during the period. Barclays PLC increased its position in Genesco by 7.2% during the 4th quarter. Barclays PLC now owns 22,228 shares of the company's stock valued at $950,000 after purchasing an additional 1,498 shares during the period. Price T Rowe Associates Inc. MD increased its position in Genesco by 4.7% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 14,392 shares of the company's stock valued at $616,000 after purchasing an additional 650 shares during the period. Northern Trust Corp raised its holdings in shares of Genesco by 1.9% in the 4th quarter. Northern Trust Corp now owns 111,992 shares of the company's stock valued at $4,788,000 after purchasing an additional 2,065 shares in the last quarter. Finally, Ameriprise Financial Inc. lifted its position in shares of Genesco by 32.7% in the 4th quarter. Ameriprise Financial Inc. now owns 65,625 shares of the company's stock worth $2,805,000 after purchasing an additional 16,161 shares during the period. 94.51% of the stock is owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
Several research firms have issued reports on GCO. Wall Street Zen lowered Genesco from a "buy" rating to a "hold" rating in a research note on Friday, May 30th. Truist Financial raised their price objective on Genesco from $25.00 to $31.00 and gave the stock a "hold" rating in a research note on Friday, August 29th. Zacks Research raised shares of Genesco from a "hold" rating to a "strong-buy" rating in a report on Friday, August 29th. Jefferies Financial Group lifted their target price on shares of Genesco from $24.00 to $29.00 and gave the company a "hold" rating in a report on Friday, August 29th. Finally, Seaport Res Ptn raised Genesco from a "hold" rating to a "strong-buy" rating in a report on Tuesday, August 26th. 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 presently has an average rating of "Buy" and an average price target of $30.00.
Read Our Latest Stock Report on GCO
Insider Activity at Genesco
In other news, major shareholder Fund 1 Investments, Llc sold 25,000 shares of Genesco 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 sale, the insider directly owned 1,072,850 shares in the company, valued at approximately $24,954,491. This trade represents a 2.28% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 23.11% of the company's stock.
Genesco Trading Down 0.9%
Shares of GCO stock traded down $0.28 during trading on Wednesday, hitting $31.83. 79,787 shares of the stock traded hands, compared to its average volume of 278,207. Genesco Inc. has a 52-week low of $16.19 and a 52-week high of $44.80. The firm has a market capitalization of $343.13 million, a P/E ratio of -13.05 and a beta of 2.22. The firm's fifty day moving average price is $24.98 and its 200-day moving average price is $23.98. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.56 and a quick ratio of 0.55.
Genesco (NYSE:GCO - Get Free Report) last posted its quarterly earnings data on Thursday, August 28th. The company reported ($1.14) earnings per share for the quarter, topping analysts' consensus estimates of ($1.25) by $0.11. The business had revenue of $545.97 million for the quarter, compared to analyst estimates of $531.89 million. Genesco had a positive return on equity of 1.75% and a negative net margin of 1.03%.The company's revenue was up 4.0% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.83) earnings per share. Genesco has set its FY 2026 guidance at 1.300-1.700 EPS. As a group, research analysts forecast that Genesco Inc. will post 0.94 earnings per share for the current fiscal year.
About Genesco
(
Free Report)
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.
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