Genesco Inc. $GCO Shares Sold by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. lowered its stake in shares of Genesco Inc. (NYSE:GCO) by 49.5% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 41,617 shares of the company’s stock after selling 40,829 shares during the period. Assenagon Asset Management S.A. owned about 0.38% of Genesco worth $1,206,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in GCO. Arrowstreet Capital Limited Partnership boosted its position in shares of Genesco by 371.2% in the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 272,455 shares of the company’s stock worth $5,365,000 after buying an additional 214,639 shares in the last quarter. Shay Capital LLC purchased a new position in Genesco during the 2nd quarter valued at about $4,027,000. JPMorgan Chase & Co. raised its position in Genesco by 2,995.5% during 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 during the last quarter. MUFG Securities EMEA plc acquired a new position in Genesco during the second quarter worth about $2,954,000. Finally, Marshall Wace LLP lifted its holdings in shares of Genesco by 232.5% in the fourth quarter. Marshall Wace LLP now owns 174,218 shares of the company’s stock valued at $4,315,000 after purchasing an additional 121,814 shares in the last quarter. 94.51% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on GCO shares. Seaport Research Partners lowered Genesco from a “buy” rating to a “neutral” rating in a research note on Wednesday, May 27th. Weiss Ratings downgraded Genesco from a “hold (c)” rating to a “sell (d+)” rating in a research report on Friday, June 12th. Zacks Research raised Genesco from a “hold” rating to a “strong-buy” rating in a report on Tuesday, June 2nd. Wall Street Zen downgraded Genesco from a “buy” rating to a “hold” rating in a research report on Saturday, June 13th. Finally, Truist Financial set a $40.00 price objective on Genesco in a research report on Friday, May 29th. Two equities research 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 stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $36.67.

Genesco Stock Performance

Genesco stock opened at $33.91 on Thursday. The firm has a market capitalization of $376.72 million, a PE ratio of 19.60 and a beta of 1.83. The stock’s 50 day moving average price is $35.94 and its 200 day moving average price is $31.14. Genesco Inc. has a one year low of $21.23 and a one year high of $43.60. 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 (NYSE:GCO) last posted 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 business had revenue of $487.03 million for the quarter, compared to analysts’ expectations of $474.32 million. Genesco had a net margin of 0.80% and a return on equity of 2.66%. Genesco has set its FY 2027 guidance at 2.000-2.400 EPS. As a group, sell-side analysts expect that Genesco Inc. will post 2.25 EPS for the current fiscal year.

Genesco Company 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.