Jacobs Levy Equity Management Inc. Grows Stake in Genesco Inc. $GCO

Key Points

• Jacobs Levy Equity Management Inc. increased its stake in Genesco Inc. by 9.5%, owning 219,165 shares worth approximately $4.65 million after purchasing an additional 19,090 shares in the first quarter.
• Genesco reported earnings per share of ($1.14), surpassing analyst expectations of ($1.25), and had a revenue of $545.97 million for the quarter, exceeding forecasted amounts.
• Brokerages have varied in their ratings for Genesco, with Zacks Research upgrading it to a "strong-buy", while others issued hold ratings, leading to a consensus rating of "Buy" with an average target price of $30.00.

Jacobs Levy Equity Management Inc. raised its stake in shares of Genesco Inc. (NYSE:GCO - Free Report) by 9.5% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 219,165 shares of the company's stock after buying an additional 19,090 shares during the quarter. Jacobs Levy Equity Management Inc. owned about 1.99% of Genesco worth $4,653,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of the stock. Vanguard Group Inc. grew its holdings in Genesco by 23.9% during the 1st quarter. Vanguard Group Inc. now owns 899,123 shares of the company's stock valued at $19,088,000 after buying an additional 173,255 shares during the last quarter. Nomura Holdings Inc. acquired a new stake in shares of Genesco during the first quarter worth $16,163,000. American Century Companies Inc. boosted its holdings in shares of Genesco by 23.5% during the first quarter. American Century Companies Inc. now owns 341,837 shares of the company's stock worth $7,257,000 after purchasing an additional 65,030 shares during the last quarter. Bridgeway Capital Management LLC boosted its holdings in shares of Genesco by 89.0% during the first quarter. Bridgeway Capital Management LLC now owns 183,754 shares of the company's stock worth $3,901,000 after purchasing an additional 86,553 shares during the last quarter. Finally, SG Americas Securities LLC boosted its holdings in shares of Genesco by 4,730.7% during the first quarter. SG Americas Securities LLC now owns 125,212 shares of the company's stock worth $2,658,000 after purchasing an additional 122,620 shares during the last quarter. Institutional investors and hedge funds own 94.51% of the company's stock.

Genesco Trading Down 2.0%

Genesco stock traded down $0.67 during midday trading on Friday, reaching $33.17. The stock had a trading volume of 221,075 shares, compared to its average volume of 231,116. Genesco Inc. has a twelve month low of $16.19 and a twelve month high of $44.80. The stock has a market capitalization of $357.54 million, a PE 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. The stock's 50-day simple moving average is $26.85 and its 200 day simple moving average is $23.57.

Genesco (NYSE:GCO - Get Free Report) last issued its earnings results on Thursday, August 28th. The company reported ($1.14) earnings per share for the quarter, beating analysts' consensus estimates 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 last year, the firm earned ($0.83) earnings per share. The firm's revenue for the quarter was up 4.0% compared to the same quarter last year. Genesco has set its FY 2026 guidance at 1.300-1.700 EPS. Analysts expect that Genesco Inc. will post 0.94 EPS for the current year.

Analysts Set New Price Targets

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

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.