Virtus Advisers LLC Takes $738,000 Position in Genesco Inc. $GCO

Virtus Advisers LLC purchased a new stake in shares of Genesco Inc. (NYSE:GCO) in the second quarter, according to its most recent disclosure with the SEC. The firm purchased 21,866 shares of the company’s stock, valued at approximately $738,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Pzena Investment Management LLC acquired a new stake in shares of Genesco during the second quarter valued at about $37,104,000. BlackRock Inc. purchased a new stake in shares of Genesco during the second quarter worth about $30,730,000. Arrowstreet Capital Limited Partnership lifted its stake in shares of Genesco by 371.2% in the second quarter. Arrowstreet Capital Limited Partnership now owns 272,455 shares of the company’s stock worth $5,365,000 after acquiring an additional 214,639 shares in the last quarter. Shay Capital LLC acquired a new position in shares of Genesco in the second quarter worth about $4,027,000. Finally, JPMorgan Chase & Co. lifted its stake in shares of Genesco by 2,995.5% in the third quarter. JPMorgan Chase & Co. now owns 167,155 shares of the company’s stock worth $4,846,000 after acquiring an additional 161,755 shares in the last quarter. 94.51% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

GCO has been the subject of a number of recent analyst reports. Weiss Ratings lowered Genesco from a “hold (c)” rating to a “sell (d+)” rating in a research note on Friday, June 12th. Truist Financial set a $40.00 target price on Genesco in a research report on Friday, May 29th. Seaport Research Partners cut Genesco from a “buy” rating to a “neutral” rating in a research note on Wednesday, May 27th. Wall Street Zen downgraded shares of Genesco from a “buy” rating to a “hold” rating in a research report on Saturday, June 13th. Finally, Zacks Research lowered shares of Genesco from a “strong-buy” rating to a “hold” rating in a research note on Friday, July 31st. One analyst has rated the stock with a Strong Buy rating, three have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Genesco presently has a consensus rating of “Hold” and a consensus target price of $36.67.

Insider Activity

In other news, Director Gregory A. Sandfort acquired 2,958 shares of Genesco stock in a transaction that occurred on Thursday, July 9th. The shares were purchased at an average cost of $33.80 per share, for a total transaction of $99,980.40. Following the completion of the purchase, the director directly owned 29,172 shares of the company’s stock, valued at $986,013.60. This trade represents a 11.28% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Corporate insiders own 23.11% of the company’s stock.

Genesco Stock Down 2.6%

Shares of Genesco stock opened at $34.11 on Friday. The business has a 50-day moving average price of $35.97 and a 200 day moving average price of $32.96. Genesco Inc. has a fifty-two week low of $21.92 and a fifty-two week high of $43.60. The firm has a market cap of $378.96 million, a P/E ratio of 19.72 and a beta of 1.83. The company has a quick ratio of 0.37, a current ratio of 1.83 and a debt-to-equity ratio of 0.08.

Genesco (NYSE:GCO) last released its earnings results on Friday, May 29th. The company reported ($2.18) EPS for the quarter, topping analysts’ consensus estimates of ($2.58) by $0.40. The company had revenue of $487.03 million for 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, sell-side analysts forecast that Genesco Inc. will post 2.25 earnings per share for the current fiscal year.

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.