UBS Group AG Increases Stake in Genesco Inc. $GCO

UBS Group AG raised its stake in shares of Genesco Inc. (NYSE:GCO) by 38.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 174,947 shares of the company’s stock after buying an additional 48,436 shares during the quarter. UBS Group AG owned about 1.62% of Genesco worth $4,333,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also added to or reduced their stakes in GCO. Arrowstreet Capital Limited Partnership grew its holdings in Genesco by 371.2% during the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 272,455 shares of the company’s stock valued at $5,365,000 after buying an additional 214,639 shares in the last quarter. Shay Capital LLC purchased a new stake in Genesco during the 2nd quarter valued at approximately $4,027,000. JPMorgan Chase & Co. grew its holdings in Genesco by 2,995.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 167,155 shares of the company’s stock valued at $4,846,000 after buying an additional 161,755 shares in the last quarter. MUFG Securities EMEA plc purchased a new stake in Genesco during the 2nd quarter valued at approximately $2,954,000. Finally, CIBC Bancorp USA Inc. purchased a new stake in Genesco during the 3rd quarter valued at approximately $2,930,000. 94.51% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

GCO has been the subject of a number of research analyst reports. Wall Street Zen lowered shares of Genesco from a “buy” rating to a “hold” rating in a report on Saturday, May 16th. Truist Financial cut their price objective on shares of Genesco from $38.00 to $32.00 and set a “hold” rating for the company in a report on Monday, March 9th. Weiss Ratings raised shares of Genesco from a “hold (c-)” rating to a “hold (c)” rating in a report on Friday, May 15th. Finally, Jefferies Financial Group reissued a “hold” rating on shares of Genesco in a report on Friday, March 6th. One investment analyst has rated the stock with a Strong Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Genesco has an average rating of “Hold” and an average target price of $34.00.

Genesco Stock Up 3.6%

Shares of GCO opened at $36.98 on Friday. The company has a market cap of $401.55 million, a PE ratio of 32.72 and a beta of 1.82. The business has a fifty day moving average of $31.43 and a 200 day moving average of $29.84. Genesco Inc. has a 52-week low of $19.62 and a 52-week high of $38.95. The company has a quick ratio of 0.49, a current ratio of 1.64 and a debt-to-equity ratio of 0.01.

Genesco (NYSE:GCO) last issued its quarterly earnings results on Friday, March 6th. The company reported $3.74 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.73 by $0.01. The company had revenue of $799.94 million during the quarter, compared to the consensus estimate of $476.67 million. Genesco had a return on equity of 2.92% and a net margin of 0.54%.Genesco has set its FY 2027 guidance at 1.900-2.300 EPS. On average, sell-side analysts expect that Genesco Inc. will post 2.15 EPS for the current year.

About Genesco

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.