JPMorgan Chase & Co. Purchases 161,755 Shares of Genesco Inc. $GCO

Key Points

• JPMorgan Chase & Co. boosted its stake in Genesco by 2,995.5% in Q3, purchasing 161,755 shares to hold 167,155 shares (about 1.55% of the company) valued at $4.846 million.
• Genesco beat quarterly EPS estimates ($3.74 vs. $3.73) and reported $799.94 million in revenue, set FY2027 guidance of 1.900–2.300 EPS, and has a market cap of $308.77 million with a P/E of 25.16.
• Analyst sentiment is mixed: MarketBeat shows a consensus Hold with a $34 target, while coverage ranges from one Strong Buy to one Sell (1 Strong Buy, 3 Hold, 1 Sell) and UBS has a $38 target.

JPMorgan Chase & Co. grew its position in shares of Genesco Inc. (NYSE:GCO - Free Report) by 2,995.5% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 167,155 shares of the company's stock after buying an additional 161,755 shares during the quarter. JPMorgan Chase & Co. owned 1.55% of Genesco worth $4,846,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Jones Financial Companies Lllp bought a new position in shares of Genesco in the first quarter valued at approximately $26,000. BNP Paribas Financial Markets boosted its position in Genesco by 92.3% in the third quarter. BNP Paribas Financial Markets now owns 1,960 shares of the company's stock worth $57,000 after purchasing an additional 941 shares during the last quarter. Quarry LP boosted its position in Genesco by 182.2% in the third quarter. Quarry LP now owns 1,964 shares of the company's stock worth $57,000 after purchasing an additional 1,268 shares during the last quarter. New York State Common Retirement Fund grew its stake in Genesco by 5,053.8% in the 3rd quarter. New York State Common Retirement Fund now owns 4,793 shares of the company's stock valued at $139,000 after purchasing an additional 4,700 shares during the period. Finally, Tower Research Capital LLC TRC increased its position in shares of Genesco by 37.3% during the 2nd quarter. Tower Research Capital LLC TRC now owns 5,514 shares of the company's stock valued at $109,000 after purchasing an additional 1,499 shares during the last quarter. Hedge funds and other institutional investors own 94.51% of the company's stock.

Genesco Price Performance

GCO opened at $28.43 on Friday. The company has a market capitalization of $308.77 million, a price-to-earnings ratio of 25.16 and a beta of 1.78. The company has a quick ratio of 0.49, a current ratio of 1.64 and a debt-to-equity ratio of 0.01. The firm has a 50-day moving average price of $27.77 and a 200-day moving average price of $29.04. Genesco Inc. has a twelve month low of $16.19 and a twelve month high of $38.95.

Genesco (NYSE:GCO - Get Free Report) last announced its quarterly earnings results on Friday, March 6th. The company reported $3.74 EPS for the quarter, beating analysts' consensus estimates of $3.73 by $0.01. The company had revenue of $799.94 million for the quarter, compared to analysts' expectations of $476.67 million. Genesco had a net margin of 0.54% and a return on equity of 2.92%. Genesco has set its FY 2027 guidance at 1.900-2.300 EPS. Equities analysts expect that Genesco Inc. will post 0.94 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on GCO. UBS Group set a $38.00 price target on shares of Genesco in a report on Friday, December 5th. Williams Trading raised shares of Genesco to a "strong-buy" rating in a research report on Monday, January 12th. Zacks Research upgraded shares of Genesco from a "strong sell" rating to a "hold" rating in a research note on Wednesday, January 14th. Jefferies Financial Group reissued a "hold" rating on shares of Genesco in a research report on Friday, March 6th. Finally, Wall Street Zen upgraded shares of Genesco from a "hold" rating to a "buy" rating in a research note on Saturday, March 28th. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $34.00.

Genesco Profile

Genesco Inc is a Nashville, Tennessee-based retailer, wholesaler and licensee specializing in branded footwear, headwear, apparel and accessories. Through its portfolio of retail chains, wholesale distribution channels and licensing agreements, Genesco brings a range of product offerings to consumers in North America and Europe.

The company's retail segment includes specialty chains such as Journeys, which targets fashion-focused teens and young adults in the United States and Canada, and Schuh, a footwear retailer with locations in the United Kingdom and Ireland.

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