Vanguard Group Inc. Acquires 173,255 Shares of Genesco Inc. $GCO

Key Points

• Vanguard Group Inc. increased its stake in Genesco Inc. by 23.9%, owning approximately 8.15% of the company after acquiring 173,255 shares.
• Institutional investors and hedge funds hold 94.51% of Genesco's stock, indicating strong institutional interest in the company.
• Analyst ratings show a mix of cautious support, with Jefferies and Truist Financial maintaining a "hold" rating, while Seaport Res Ptn upgraded Genesco to a "strong-buy."

Vanguard Group Inc. grew its holdings in shares of Genesco Inc. (NYSE:GCO - Free Report) by 23.9% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 899,123 shares of the company's stock after purchasing an additional 173,255 shares during the period. Vanguard Group Inc. owned about 8.15% of Genesco worth $19,088,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Genesco during the 4th quarter worth approximately $35,000. Bayesian Capital Management LP acquired a new position in shares of Genesco during the 4th quarter worth approximately $234,000. State of Wyoming acquired a new position in shares of Genesco during the 4th quarter worth approximately $242,000. Wells Fargo & Company MN grew its position 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 purchasing an additional 1,281 shares in the last quarter. Finally, Corton Capital Inc. acquired a new position in shares of Genesco during the 4th quarter worth approximately $299,000. Institutional investors and hedge funds own 94.51% of the company's stock.

Analysts Set New Price Targets

GCO has been the subject of a number of recent analyst reports. Jefferies Financial Group upped their price target on shares of Genesco from $24.00 to $29.00 and gave the stock a "hold" rating in a report on Friday, August 29th. Truist Financial upped their price target on shares of Genesco from $25.00 to $31.00 and gave the stock a "hold" rating in a report on Friday, August 29th. Wall Street Zen downgraded shares of Genesco from a "buy" rating to a "hold" rating in a report on Friday, May 30th. Seaport Res Ptn raised shares of Genesco from a "hold" rating to a "strong-buy" rating in a report on Tuesday, August 26th. Finally, Zacks Research raised shares of Genesco from a "hold" rating to a "strong-buy" rating in a report on Friday, August 29th. Two equities research analysts have rated the stock with a Strong Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Buy" and a consensus price target of $30.00.

Genesco Price Performance

Shares of NYSE:GCO traded up $0.17 during trading on Thursday, hitting $31.76. 26,220 shares of the company were exchanged, compared to its average volume of 277,166. The business's 50 day moving average is $25.20 and its 200-day moving average is $24.03. The company has a market capitalization of $342.41 million, a P/E ratio of -13.01 and a beta of 2.22. The company has a quick ratio of 0.55, a current ratio of 1.56 and a debt-to-equity ratio of 0.11. 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 announced its quarterly earnings results on Thursday, August 28th. The company reported ($1.14) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.25) by $0.11. The company had revenue of $545.97 million during the quarter, compared to the consensus estimate of $531.89 million. Genesco had a negative net margin of 1.03% and a positive return on equity of 1.75%. The company's revenue for the quarter was up 4.0% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.83) earnings per share. Genesco has set its FY 2026 guidance at 1.300-1.700 EPS. Equities analysts forecast that Genesco Inc. will post 0.94 earnings per share for the current year.

Genesco 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.