Assenagon Asset Management S.A. Boosts Stock Position in Genesco Inc. $GCO

Assenagon Asset Management S.A. lifted its stake in Genesco Inc. (NYSE:GCO) by 99.8% in the fourth quarter, Holdings Channel.com reports. The fund owned 82,446 shares of the company’s stock after purchasing an additional 41,191 shares during the period. Assenagon Asset Management S.A.’s holdings in Genesco were worth $2,042,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently made changes to their positions in the company. BNP Paribas Financial Markets raised its stake in shares of Genesco by 92.3% during the 3rd quarter. BNP Paribas Financial Markets now owns 1,960 shares of the company’s stock valued at $57,000 after purchasing an additional 941 shares during the period. Russell Investments Group Ltd. boosted its stake in Genesco by 6.3% in the 3rd quarter. Russell Investments Group Ltd. now owns 18,966 shares of the company’s stock worth $550,000 after purchasing an additional 1,121 shares during the period. Quarry LP boosted its stake in Genesco by 182.2% in the 3rd quarter. Quarry LP now owns 1,964 shares of the company’s stock worth $57,000 after purchasing an additional 1,268 shares during the period. Jones Financial Companies Lllp purchased a new position in Genesco during the 1st quarter valued at about $26,000. Finally, Tower Research Capital LLC TRC grew its holdings in Genesco by 37.3% during the 2nd quarter. Tower Research Capital LLC TRC now owns 5,514 shares of the company’s stock valued at $109,000 after buying an additional 1,499 shares in the last quarter. 94.51% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

GCO has been the topic of a number of recent analyst reports. Zacks Research raised shares of Genesco from a “strong sell” rating to a “hold” rating in a report on Wednesday, January 14th. Jefferies Financial Group reaffirmed a “hold” rating on shares of Genesco in a research note on Friday, March 6th. Truist Financial decreased their target price on shares of Genesco from $38.00 to $32.00 and set a “hold” rating on the stock in a report on Monday, March 9th. UBS Group set a $38.00 target price on shares of Genesco in a research note on Friday, December 5th. Finally, Williams Trading raised shares of Genesco to a “strong-buy” rating in a report on Monday, January 12th. One research analyst has rated the stock with a Strong Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Genesco presently has a consensus rating of “Hold” and an average price target of $34.00.

Genesco Stock Performance

NYSE:GCO opened at $27.92 on Tuesday. The stock has a market cap of $303.16 million, a P/E ratio of 24.70 and a beta of 1.86. The company has a quick ratio of 0.49, a current ratio of 1.64 and a debt-to-equity ratio of 0.01. The business’s 50-day moving average price is $28.25 and its two-hundred day moving average price is $29.07. Genesco Inc. has a twelve month low of $16.19 and a twelve month high of $38.95.

Genesco (NYSE:GCO) last issued its quarterly earnings data on Friday, March 6th. The company reported $3.74 EPS for the quarter, topping the consensus estimate of $3.73 by $0.01. The company had revenue of $799.94 million during the quarter, compared to analyst estimates 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. As a group, equities analysts predict that Genesco Inc. will post 0.94 EPS 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.