Gregory Sandfort Buys 2,958 Shares of Genesco (NYSE:GCO) Stock

Key Points

• Genesco director Gregory Sandfort bought 2,958 shares on July 9 at an average price of $33.80, a transaction worth about $99,980. After the purchase, he owned 29,172 shares, increasing his stake by 11.28%.
• The stock was modestly higher, trading up 0.2% with shares opening at $34.20. Genesco’s market value was about $380 million, and the stock has traded between $21.55 and $43.60 over the past year.
• Genesco beat quarterly expectations, reporting EPS of -$2.18 versus estimates of -$2.58 and revenue of $487.03 million versus the expected $474.32 million. Analysts currently have a consensus rating of “Moderate Buy” with a price target of $36.67.

Genesco Inc. (NYSE:GCO - Get Free Report) Director Gregory Sandfort acquired 2,958 shares of the company's stock in a transaction dated Thursday, July 9th. The shares were purchased at an average price of $33.80 per share, with a total value of $99,980.40. Following the completion of the acquisition, the director owned 29,172 shares in the company, valued at approximately $986,013.60. The trade was a 11.28% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which can be accessed through this link.

Genesco Trading Up 0.2%

Shares of GCO opened at $34.20 on Monday. Genesco Inc. has a twelve month low of $21.55 and a twelve month high of $43.60. The firm has a market capitalization of $379.98 million, a P/E ratio of 19.77 and a beta of 1.83. The company has a current ratio of 1.83, a quick ratio of 0.37 and a debt-to-equity ratio of 0.08. The stock's fifty day simple moving average is $35.61 and its 200 day simple moving average is $31.62.

Genesco (NYSE:GCO - Get Free Report) last posted its quarterly earnings results on Friday, May 29th. The company reported ($2.18) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($2.58) by $0.40. The firm had revenue of $487.03 million during the quarter, compared to the consensus estimate of $474.32 million. Genesco had a return on equity of 2.66% and a net margin of 0.80%.Genesco has set its FY 2027 guidance at 2.000-2.400 EPS. On average, equities research analysts forecast that Genesco Inc. will post 2.25 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research firms recently commented on GCO. Truist Financial set a $40.00 price target on shares of Genesco in a report on Friday, May 29th. Seaport Research Partners downgraded shares of Genesco from a "buy" rating to a "neutral" rating in a research note on Wednesday, May 27th. Wall Street Zen lowered shares of Genesco from a "buy" rating to a "hold" rating in a research report on Saturday, June 13th. Weiss Ratings downgraded shares of Genesco from a "hold (c)" rating to a "sell (d+)" rating in a research note on Friday, June 12th. Finally, Zacks Research upgraded shares of Genesco from a "hold" rating to a "strong-buy" rating in a report on Tuesday, June 2nd. Two research analysts have rated the stock with a Strong Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Genesco currently has a consensus rating of "Moderate Buy" and a consensus price target of $36.67.

Institutional Investors Weigh In On Genesco

Several hedge funds have recently modified their holdings of the stock. Assenagon Asset Management S.A. grew its position in Genesco by 99.8% in the fourth quarter. Assenagon Asset Management S.A. now owns 82,446 shares of the company's stock valued at $2,042,000 after acquiring an additional 41,191 shares in the last quarter. JPMorgan Chase & Co. lifted its position in shares of Genesco by 2,995.5% during the third quarter. JPMorgan Chase & Co. now owns 167,155 shares of the company's stock worth $4,846,000 after purchasing an additional 161,755 shares in the last quarter. UBS Group AG lifted its position in shares of Genesco by 38.3% during the fourth quarter. UBS Group AG now owns 174,947 shares of the company's stock worth $4,333,000 after purchasing an additional 48,436 shares in the last quarter. Corient Private Wealth LLC boosted its stake in shares of Genesco by 361.6% in the fourth quarter. Corient Private Wealth LLC now owns 46,570 shares of the company's stock valued at $1,154,000 after purchasing an additional 36,481 shares during the period. Finally, Cetera Investment Advisers purchased a new position in shares of Genesco in the second quarter valued at $208,000. 94.51% of the stock is currently owned by hedge funds and other institutional investors.

Genesco Company 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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