Truist Financial Corp Invests $375,000 in Genesco Inc. (NYSE:GCO)

Truist Financial Corp acquired a new stake in shares of Genesco Inc. (NYSE:GCOGet Rating) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 5,900 shares of the company’s stock, valued at approximately $375,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of GCO. Quantedge Capital Pte Ltd acquired a new position in Genesco in the fourth quarter valued at approximately $2,297,000. Pacer Advisors Inc. lifted its stake in Genesco by 45.1% in the fourth quarter. Pacer Advisors Inc. now owns 103,146 shares of the company’s stock valued at $6,619,000 after buying an additional 32,061 shares during the last quarter. American Century Companies Inc. boosted its holdings in shares of Genesco by 93.2% during the fourth quarter. American Century Companies Inc. now owns 53,539 shares of the company’s stock valued at $3,436,000 after acquiring an additional 25,831 shares during the period. Assenagon Asset Management S.A. bought a new position in shares of Genesco during the fourth quarter worth about $1,188,000. Finally, Hussman Strategic Advisors Inc. lifted its position in Genesco by 67.7% in the 4th quarter. Hussman Strategic Advisors Inc. now owns 41,600 shares of the company’s stock valued at $2,669,000 after purchasing an additional 16,800 shares during the last quarter. Institutional investors and hedge funds own 93.60% of the company’s stock.

Genesco Trading Up 3.2 %

Genesco stock opened at $55.21 on Thursday. Genesco Inc. has a 12-month low of $48.54 and a 12-month high of $73.72. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.56 and a quick ratio of 0.70. The stock has a market capitalization of $757.98 million, a PE ratio of 7.10 and a beta of 1.89. The firm has a 50 day simple moving average of $54.70 and a 200-day simple moving average of $61.30.

Genesco (NYSE:GCOGet Rating) last issued its quarterly earnings results on Thursday, May 26th. The company reported $0.44 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.09) by $0.53. Genesco had a return on equity of 17.62% and a net margin of 4.61%. The company had revenue of $520.80 million for the quarter, compared to analysts’ expectations of $521.05 million. During the same period last year, the firm earned $0.79 EPS. The firm’s revenue for the quarter was down 3.3% on a year-over-year basis. As a group, equities research analysts expect that Genesco Inc. will post 7.41 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on GCO shares. TheStreet lowered shares of Genesco from a “b” rating to a “c+” rating in a research note on Thursday, May 26th. StockNews.com began coverage on Genesco in a research note on Thursday, March 31st. They set a “buy” rating on the stock. One investment analyst has rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $69.50.

About Genesco

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Genesco Inc operates as a retailer and wholesaler of footwear, apparel, and accessories. The company operates through four segments: Journeys Group, Schuh Group, Johnston & Murphy Group, and Licensed Brands. The Journeys Group segment offers footwear and accessories through the Journeys, Journeys Kidz, and Little Burgundy retail chains, as well as through e-commerce and catalogs for young men, women, and children.

See Also

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Institutional Ownership by Quarter for Genesco (NYSE:GCO)

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