On March 28, 2023, Seaport Global upgraded their outlook for Genesco (NYSE:GCO) from Neutral to Buy.
Analyst Price Forecast Suggests 26.45% Upside
As of March 27, 2023, the average one-year price target for Genesco is $45.90. The forecasts range from a low of $45.45 to a high of $47.25. The average price target represents an increase of 26.45% from its latest reported closing price of $36.30.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Genesco is $2,419MM, an increase of 1.43%. The projected annual non-GAAP EPS is $5.68.
What are Large Shareholders Doing?
Legion Partners Asset Management holds 928K shares representing 7.37% ownership of the company. In it's prior filing, the firm reported owning 922K shares, representing an increase of 0.63%. The firm decreased its portfolio allocation in GCO by 0.08% over the last quarter.
IJR - iShares Core S&P Small-Cap ETF holds 920K shares representing 7.30% ownership of the company. In it's prior filing, the firm reported owning 956K shares, representing a decrease of 3.94%. The firm increased its portfolio allocation in GCO by 2.44% over the last quarter.
Alliancebernstein holds 671K shares representing 5.33% ownership of the company. In it's prior filing, the firm reported owning 592K shares, representing an increase of 11.79%. The firm increased its portfolio allocation in GCO by 23.34% over the last quarter.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 385K shares representing 3.06% ownership of the company. No change in the last quarter.
Invesco holds 352K shares representing 2.79% ownership of the company. In it's prior filing, the firm reported owning 232K shares, representing an increase of 34.16%. The firm decreased its portfolio allocation in GCO by 99.98% over the last quarter.
What is the Fund Sentiment?
There are 429 funds or institutions reporting positions in Genesco. This is a decrease of 21 owner(s) or 4.67% in the last quarter. Average portfolio weight of all funds dedicated to GCO is 0.11%, a decrease of 2.71%. Total shares owned by institutions decreased in the last three months by 6.54% to 13,164K shares. The put/call ratio of GCO is 0.07, indicating a bullish outlook.
Genesco Background Information
(This description is provided by the company.)
Genesco Inc., a Nashville-based specialty retailer, sells footwear and accessories in more than 1,475 retail stores throughout the U.S., Canada, the United Kingdom and the Republic of Ireland, principally under the names Journeys, Journeys Kidz, Schuh, Schuh Kids, Little Burgundy, Johnston & Murphy, and on internet websites www.journeys.com, www.journeyskidz.com, www.journeys.ca, www.littleburgundyshoes.com, www.schuh.co.uk, www.johnstonmurphy.com, www.johnstonmurphy.ca, and www.dockersshoes.com. In addition, Genesco sells wholesale footwear under its Johnston & Murphy brand, the licensed Dockers brand, the licensed Levi's brand, the licensed Bass brand, and other brands.
This story originally appeared on Fintel.
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