BlackRock Amends GENESCO Stake to 16.7% as of Dec 31, 2023
Ticker: GCO · Form: SC 13G/A · Filed: Jan 25, 2024 · CIK: 18498
Complexity: simple
Sentiment: neutral
Topics: institutional-ownership, amendment, stake-change
TL;DR
**BlackRock still owns a big chunk of GENESCO, but they trimmed their stake slightly.**
AI Summary
BlackRock Inc. filed an amended SC 13G/A on January 25, 2024, indicating a change in its ownership stake in GENESCO INC. As of December 31, 2023, BlackRock reported beneficial ownership of 2,050,000 shares of GENESCO's Common Stock, representing 16.7% of the company. This is an amendment to their previous filing, showing a slight decrease from their prior reported stake, which could signal BlackRock's adjusted confidence in GENESCO's future performance.
Why It Matters
This filing shows that a major institutional investor, BlackRock, still holds a significant portion of GENESCO, but has slightly adjusted its position, which can influence other investors' perceptions of the stock.
Risk Assessment
Risk Level: low — The filing indicates a routine adjustment by a large institutional investor, not a drastic change that would signal immediate high risk.
Analyst Insight
An investor should note BlackRock's continued significant, yet slightly adjusted, stake in GENESCO. This suggests BlackRock still sees value but is actively managing its position. It would be wise to research GENESCO's recent financial performance and BlackRock's broader investment strategies to understand the context of this change.
Key Numbers
- 2,050,000 — Shares Beneficially Owned (BlackRock's total shares in GENESCO INC as of December 31, 2023.)
- 16.7% — Percentage of Class (BlackRock's ownership percentage of GENESCO INC's Common Stock.)
Key Players & Entities
- BlackRock Inc. (company) — the reporting person and institutional investor
- GENESCO INC (company) — the subject company whose securities are being reported
- 2,050,000 (dollar_amount) — number of shares beneficially owned by BlackRock Inc.
- 16.7% (dollar_amount) — percentage of class beneficially owned by BlackRock Inc.
- December 31, 2023 (date) — the date of the event requiring the filing
- January 25, 2024 (date) — the filing date of the SC 13G/A
Forward-Looking Statements
- BlackRock will maintain a significant, but potentially fluctuating, stake in GENESCO INC over the next year. (BlackRock Inc.) — medium confidence, target: 2025-01-25
FAQ
What is the purpose of this SC 13G/A filing by BlackRock Inc. regarding GENESCO INC?
This SC 13G/A filing is an amendment (Amendment No: 4) to a previous Schedule 13G, indicating a change in BlackRock Inc.'s beneficial ownership of GENESCO INC's Common Stock as of December 31, 2023.
How many shares of GENESCO INC Common Stock does BlackRock Inc. beneficially own according to this filing?
As of December 31, 2023, BlackRock Inc. beneficially owns 2,050,000 shares of GENESCO INC Common Stock.
What percentage of GENESCO INC's Common Stock does BlackRock Inc. own as reported in this filing?
BlackRock Inc. owns 16.7% of GENESCO INC's Common Stock, as stated in the filing.
When was the event date that triggered this filing?
The date of the event which required the filing of this statement was December 31, 2023.
Under which rule was this Schedule 13G filed?
This Schedule 13G was filed under Rule 13d-1(b) of the Securities Exchange Act of 1934.
Filing Details
This Form SC 13G/A (Form SC 13G/A) was filed with the SEC on January 25, 2024 regarding GENESCO INC (GCO).