Assenagon Asset Management S.A. Trims Holdings in Genesco Inc. $GCO

Assenagon Asset Management S.A. lowered its stake in shares of Genesco Inc. (NYSE:GCO) by 49.5% in the first quarter, Holdings Channel reports. The institutional investor owned 41,617 shares of the company’s stock after selling 40,829 shares during the quarter. Assenagon Asset Management S.A.’s holdings in Genesco were worth $1,206,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Fund 1 Investments LLC raised its holdings in Genesco by 3.5% in the fourth quarter. Fund 1 Investments LLC now owns 986,241 shares of the company’s stock valued at $24,429,000 after acquiring an additional 33,044 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of Genesco by 23.0% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 409,227 shares of the company’s stock worth $10,137,000 after purchasing an additional 76,494 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund raised its stake in shares of Genesco by 50.0% in the 4th quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 300,000 shares of the company’s stock valued at $7,431,000 after purchasing an additional 100,000 shares in the last quarter. Arrowstreet Capital Limited Partnership lifted its position in shares of Genesco by 6.7% during the third quarter. Arrowstreet Capital Limited Partnership now owns 290,639 shares of the company’s stock worth $8,426,000 after purchasing an additional 18,184 shares during the last quarter. Finally, Bridgeway Capital Management LLC grew its stake in Genesco by 29.7% in the second quarter. Bridgeway Capital Management LLC now owns 238,252 shares of the company’s stock worth $4,691,000 after purchasing an additional 54,498 shares in the last quarter. Institutional investors and hedge funds own 94.51% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the company. Seaport Research Partners lowered Genesco from a “buy” rating to a “neutral” rating in a research report on Wednesday, May 27th. Zacks Research upgraded Genesco from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, June 2nd. Wall Street Zen downgraded shares of Genesco from a “buy” rating to a “hold” rating in a report on Saturday, June 13th. Weiss Ratings lowered shares of Genesco from a “hold (c)” rating to a “sell (d+)” rating in a research note on Friday, June 12th. Finally, Jefferies Financial Group restated a “hold” rating on shares of Genesco in a research report on Friday, March 6th. Two equities research analysts have rated the stock with a Strong Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $36.67.

Genesco Stock Up 0.4%

GCO opened at $33.91 on Thursday. Genesco Inc. has a 12 month low of $21.23 and a 12 month high of $43.60. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.83 and a quick ratio of 0.37. The stock has a market cap of $376.72 million, a P/E 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 (NYSE:GCO) last announced its quarterly earnings results on Friday, May 29th. The company reported ($2.18) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($2.58) by $0.40. Genesco had a return on equity of 2.66% and a net margin of 0.80%.The company had revenue of $487.03 million during the quarter, compared to analyst estimates of $474.32 million. Genesco has set its FY 2027 guidance at 2.000-2.400 EPS. As a group, research analysts predict that Genesco Inc. will post 2.25 earnings per share for the current year.

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.