Pzena Investment Management LLC Raises Stock Position in Genesco Inc. $GCO

Key Points

• Pzena Investment Management LLC increased its stake in Genesco Inc. by 44.4%, owning approximately 13.29% of the company, valued at $28.2 million after purchasing an additional 440,837 shares.
• Analysts have varied assessments of Genesco, with Zacks upgrading the stock to a "strong-buy" rating while Weiss Ratings maintained a "sell" rating, resulting in a consensus rating of "Moderate Buy".
• For Q2, Genesco reported earnings of ($1.14) EPS, beating estimates, and revenue of $545.97 million, showing a 4.0% increase compared to the previous year.

Pzena Investment Management LLC boosted its stake in Genesco Inc. (NYSE:GCO - Free Report) by 44.4% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,433,190 shares of the company's stock after purchasing an additional 440,837 shares during the period. Pzena Investment Management LLC owned approximately 13.29% of Genesco worth $28,220,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in GCO. GAMMA Investing LLC raised its stake in Genesco by 7,348.3% during the 1st quarter. GAMMA Investing LLC now owns 8,938 shares of the company's stock valued at $190,000 after buying an additional 8,818 shares during the last quarter. SG Americas Securities LLC raised its stake in Genesco by 4,730.7% during the 1st quarter. SG Americas Securities LLC now owns 125,212 shares of the company's stock valued at $2,658,000 after buying an additional 122,620 shares during the last quarter. Silver Oak Securities Incorporated purchased a new stake in Genesco during the 1st quarter valued at $293,000. Bank of New York Mellon Corp raised its stake in Genesco by 2.1% during the 1st quarter. Bank of New York Mellon Corp now owns 33,737 shares of the company's stock valued at $716,000 after buying an additional 702 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA raised its stake in Genesco by 177.2% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 22,048 shares of the company's stock valued at $468,000 after buying an additional 14,093 shares during the last quarter. 94.51% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

GCO has been the topic of a number of research reports. Zacks Research raised shares of Genesco from a "hold" rating to a "strong-buy" rating in a report on Friday, August 29th. Weiss Ratings reissued a "sell (d-)" rating on shares of Genesco in a report on Wednesday, October 8th. Jefferies Financial Group raised their price objective on shares of Genesco from $24.00 to $29.00 and gave the stock a "hold" rating in a report on Friday, August 29th. Wall Street Zen raised shares of Genesco from a "hold" rating to a "buy" rating in a report on Saturday. Finally, Truist Financial raised their price objective on shares of Genesco from $25.00 to $31.00 and gave the stock a "hold" rating in a report on Friday, August 29th. Two research analysts have rated the stock with a Strong Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $30.00.

Genesco Trading Down 6.6%

Genesco stock opened at $26.17 on Monday. The stock has a market cap of $282.64 million, a P/E ratio of -10.73 and a beta of 2.27. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.56 and a quick ratio of 0.35. Genesco Inc. has a 1 year low of $16.19 and a 1 year high of $44.80. The firm's 50 day moving average price is $29.69 and its 200-day moving average price is $24.36.

Genesco (NYSE:GCO - Get Free Report) last released its quarterly earnings data on Thursday, August 28th. The company reported ($1.14) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.25) by $0.11. The firm had revenue of $545.97 million for the quarter, compared to analysts' expectations 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 quarter last year, the business posted ($0.83) earnings per share. Genesco has set its FY 2026 guidance at 1.300-1.700 EPS. On average, equities analysts predict that Genesco Inc. will post 0.94 earnings per share for the current fiscal 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.

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