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

Genesco Inc. (NYSE:GCO) Director Gregory Sandfort purchased 2,958 shares of the firm’s stock in a transaction dated Thursday, July 9th. The shares were bought at an average price of $33.80 per share, with a total value of $99,980.40. Following the purchase, the director owned 29,172 shares in the company, valued at $986,013.60. This represents a 11.28% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Genesco Stock Performance

Shares of NYSE GCO opened at $34.48 on Wednesday. The business’s 50-day simple moving average is $35.59 and its 200-day simple moving average is $31.78. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.37 and a current ratio of 1.83. Genesco Inc. has a 52 week low of $21.55 and a 52 week high of $43.60. The firm has a market cap of $383.04 million, a price-to-earnings ratio of 19.93 and a beta of 1.83.

Genesco (NYSE:GCO) last posted its earnings results on Friday, May 29th. The company reported ($2.18) earnings per share for the quarter, topping the consensus estimate of ($2.58) by $0.40. The firm had revenue of $487.03 million during the quarter, compared to analyst estimates 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. As a group, equities research analysts expect that Genesco Inc. will post 2.25 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

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

Institutional Trading of Genesco

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Fund 1 Investments LLC raised its position in shares of Genesco by 3.5% during the fourth quarter. Fund 1 Investments LLC now owns 986,241 shares of the company’s stock valued at $24,429,000 after buying an additional 33,044 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in Genesco by 23.0% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 409,227 shares of the company’s stock worth $10,137,000 after buying an additional 76,494 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund increased its stake in Genesco by 50.0% during the fourth quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 300,000 shares of the company’s stock valued at $7,431,000 after acquiring an additional 100,000 shares during the period. Arrowstreet Capital Limited Partnership increased its stake in Genesco by 6.7% during the third quarter. Arrowstreet Capital Limited Partnership now owns 290,639 shares of the company’s stock valued at $8,426,000 after acquiring an additional 18,184 shares during the period. Finally, Bridgeway Capital Management LLC raised its holdings in Genesco by 29.7% in the 2nd quarter. Bridgeway Capital Management LLC now owns 238,252 shares of the company’s stock valued at $4,691,000 after acquiring an additional 54,498 shares in the last quarter. 94.51% of the stock is currently owned by institutional investors and hedge funds.

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.