Pzena Investment Management LLC Sells 34,949 Shares of Genesco Inc. $GCO

Pzena Investment Management LLC decreased its position in Genesco Inc. (NYSE:GCO) by 3.2% in the third quarter, Holdings Channel reports. The institutional investor owned 1,063,773 shares of the company’s stock after selling 34,949 shares during the period. Pzena Investment Management LLC owned 0.10% of Genesco worth $36,317,000 as of its most recent filing with the SEC.

A number of other large investors have also modified their holdings of the company. BlackRock Inc. purchased a new stake in shares of Genesco during the 2nd quarter worth about $30,730,000. Fund 1 Investments LLC increased its stake in shares of Genesco by 43.4% in the 2nd quarter. Fund 1 Investments LLC now owns 609,963 shares of the company’s stock valued at $20,598,000 after purchasing an additional 184,653 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. purchased a new position in shares of Genesco in the 2nd quarter valued at about $3,190,000. Ancora Advisors LLC acquired a new position in Genesco in the 2nd quarter worth about $3,187,000. Finally, Empowered Funds LLC acquired a new position in Genesco in the 2nd quarter worth about $3,148,000. Institutional investors and hedge funds own 94.51% of the company’s stock.

Genesco Stock Performance

Shares of NYSE:GCO opened at $39.29 on Thursday. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.58 and a quick ratio of 0.32. Genesco Inc. has a 1 year low of $21.92 and a 1 year high of $43.60. The firm has a market capitalization of $425.11 million, a PE ratio of 24.03 and a beta of 1.82. The business’s 50 day moving average price is $35.39 and its 200-day moving average price is $33.65.

Genesco (NYSE:GCO) last posted its quarterly earnings data on Thursday, September 3rd. The company reported ($0.83) EPS for the quarter, beating the consensus estimate of ($1.37) by $0.54. The firm had revenue of $529.86 million during the quarter, compared to the consensus estimate of $527.26 million. Genesco had a return on equity of 3.14% and a net margin of 1.71%. During the same period in the prior year, the company earned ($1.79) EPS. Genesco has set its FY 2027 guidance at 2.000-2.400 EPS. As a group, equities research analysts expect that Genesco Inc. will post 2.35 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts have commented on the company. Weiss Ratings raised Genesco from a “sell (d+)” rating to a “hold (c)” rating in a report on Tuesday, September 22nd. Zacks Research cut Genesco from a “strong-buy” rating to a “hold” rating in a research report on Monday. Wall Street Zen raised Genesco from a “hold” rating to a “buy” rating in a research note on Monday, October 19th. Finally, Truist Financial decreased their target price on Genesco from $40.00 to $38.00 and set a “hold” rating on the stock in a research report on Friday, September 4th. One analyst has rated the stock with a Strong Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat, Genesco currently has an average rating of “Hold” and an average price target of $36.00.

Genesco Profile

Genesco Inc (NYSE:GCO) is a Nashville, Tennessee-based specialty retailer and distributor of footwear, apparel and accessories. The company serves consumers through retail stores and e-commerce platforms, with a focus on branded footwear and lifestyle products.

Genesco operates several retail banners, including Journeys, which sells trend-focused footwear, apparel and accessories for young consumers; Schuh, a footwear retailer serving the United Kingdom, Ireland and other markets; Johnston & Murphy, a heritage brand offering footwear, apparel, leather goods and accessories; and Little Burgundy, a Canadian footwear retailer.