Connor Clark & Lunn Investment Management Ltd. Increases Position in Genesco Inc. $GCO

Connor Clark & Lunn Investment Management Ltd. raised its position in shares of Genesco Inc. (NYSE:GCO) by 607.9% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 77,132 shares of the company’s stock after buying an additional 66,236 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned about 0.72% of Genesco worth $1,519,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the company. Nomura Holdings Inc. acquired a new stake in Genesco in the first quarter valued at approximately $16,163,000. Pzena Investment Management LLC boosted its position in shares of Genesco by 44.4% in the 2nd quarter. Pzena Investment Management LLC now owns 1,433,190 shares of the company’s stock worth $28,220,000 after purchasing an additional 440,837 shares in the last quarter. Vanguard Group Inc. grew its stake in Genesco by 23.9% during the 1st quarter. Vanguard Group Inc. now owns 899,123 shares of the company’s stock worth $19,088,000 after buying an additional 173,255 shares during the last quarter. MUFG Securities EMEA plc acquired a new position in Genesco during the 2nd quarter valued at about $2,954,000. Finally, Bridgeway Capital Management LLC increased its position in Genesco by 89.0% during the 1st quarter. Bridgeway Capital Management LLC now owns 183,754 shares of the company’s stock valued at $3,901,000 after buying an additional 86,553 shares in the last quarter. 94.51% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the company. Weiss Ratings reissued a “sell (d-)” rating on shares of Genesco in a report on Wednesday, October 8th. Wall Street Zen cut shares of Genesco from a “buy” rating to a “hold” rating in a research note on Saturday, November 8th. Zacks Research lowered shares of Genesco from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 27th. Jefferies Financial Group lifted their price objective on shares of Genesco from $24.00 to $29.00 and gave the stock a “hold” rating in a research note on Friday, August 29th. Finally, Seaport Res Ptn raised Genesco from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, August 26th. One research analyst has rated the stock with a Strong Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $30.00.

Genesco Stock Performance

Shares of GCO stock opened at $31.86 on Monday. The stock has a market cap of $343.93 million, a PE ratio of -13.06 and a beta of 2.23. Genesco Inc. has a 52-week low of $16.19 and a 52-week high of $44.80. The business has a 50-day simple moving average of $30.63 and a 200-day simple moving average of $26.28. The company has a quick ratio of 0.35, a current ratio of 1.56 and a debt-to-equity ratio of 0.11.

Genesco (NYSE:GCO) last posted 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. The business had revenue of $545.97 million for the quarter, compared to analyst estimates of $531.89 million. Genesco had a negative net margin of 1.03% and a positive return on equity of 1.75%. The company’s revenue for the quarter was up 4.0% on a year-over-year basis. During the same period in the prior year, the company posted ($0.83) EPS. Genesco has set its FY 2026 guidance at 1.300-1.700 EPS. On average, equities analysts expect that Genesco Inc. will post 0.94 EPS for the current year.

About Genesco

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.