Russell Investments Group Ltd. Trims Stake in Genesco Inc. $GCO

Russell Investments Group Ltd. reduced its position in Genesco Inc. (NYSE:GCO) by 28.0% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 13,577 shares of the company’s stock after selling 5,267 shares during the period. Russell Investments Group Ltd. owned 0.12% of Genesco worth $288,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in GCO. Point72 Asia Singapore Pte. Ltd. purchased a new stake in Genesco during the 4th quarter valued at approximately $35,000. GAMMA Investing LLC raised its stake in Genesco by 7,348.3% during the 1st quarter. GAMMA Investing LLC now owns 8,938 shares of the company’s stock valued at $190,000 after acquiring an additional 8,818 shares during the last quarter. Summit Global Investments purchased a new stake in Genesco during the 1st quarter valued at approximately $204,000. Bayesian Capital Management LP purchased a new stake in Genesco during the 4th quarter valued at approximately $234,000. Finally, State of Wyoming purchased a new stake in Genesco during the 4th quarter valued at approximately $242,000. 94.51% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have commented on the company. Truist Financial upped their price objective on Genesco from $25.00 to $31.00 and gave the company a “hold” rating in a research note on Friday. Wall Street Zen downgraded Genesco from a “buy” rating to a “hold” rating in a research note on Friday, May 30th. Jefferies Financial Group upped their price objective on Genesco from $24.00 to $29.00 and gave the company a “hold” rating in a research note on Friday. Finally, Seaport Res Ptn upgraded Genesco from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, August 26th. One equities research analyst has rated the stock with a Strong Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $30.00.

Genesco Stock Performance

NYSE GCO opened at $32.18 on Tuesday. The company has a current ratio of 1.56, a quick ratio of 0.35 and a debt-to-equity ratio of 0.11. The business’s 50 day moving average is $24.77 and its two-hundred day moving average is $23.92. Genesco Inc. has a 12-month low of $16.19 and a 12-month high of $44.80. The stock has a market capitalization of $346.92 million, a price-to-earnings ratio of -13.19 and a beta of 2.22.

Genesco (NYSE:GCO) last released its earnings results on Thursday, August 28th. The company reported ($1.14) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.25) by $0.11. Genesco had a positive return on equity of 1.75% and a negative net margin of 1.03%.The company had revenue of $545.97 million for the quarter, compared to analysts’ expectations of $531.89 million. During the same quarter in the previous year, the firm posted ($0.83) EPS. The firm’s quarterly revenue was up 4.0% on a year-over-year basis. Genesco has set its FY 2026 guidance at 1.300-1.700 EPS. Research analysts expect that Genesco Inc. will post 0.94 EPS for the current year.

Insider Buying and Selling at Genesco

In related news, major shareholder Fund 1 Investments, Llc sold 25,000 shares of the company’s stock in a transaction that occurred on Thursday, June 5th. The stock was sold at an average price of $23.26, for a total value of $581,500.00. Following the sale, the insider owned 1,072,850 shares in the company, valued at $24,954,491. This represents a 2.28% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 23.11% of the stock is currently owned by corporate insiders.

Genesco Profile

Genesco Inc operates as a retailer and wholesaler of footwear, apparel, and accessories in the United States, Puerto Rico, Canada, the United Kingdom, and the Republic of Ireland. The company operates through four segments: Journeys Group, Schuh Group, Johnston & Murphy Group, and Genesco Brands.