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Scholastic Corporation (SCHL) Issues Quarterly Earnings Results
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Scholastic Corporation (NASDAQ SCHL) opened at 44.53 on Thursday. The stock has a 50 day moving average price of $43.72 and a 200-day moving average price of $44.23. The firm has a market cap of $1.55 billion, a price-to-earnings ratio of 33.56 and a beta of 0.75. Scholastic Corporation has a 12-month low of $35.20 and a 12-month high of $49.38.
The business also recently announced a quarterly dividend, which will be paid on Friday, September 15th. Stockholders of record on Thursday, August 31st will be issued a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.35%. Scholastic Corporation’s payout ratio is currently 46.15%.
SCHL has been the topic of several research analyst reports. Zacks Investment Research lowered Scholastic Corporation from a “hold” rating to a “sell” rating in a research report on Thursday, May 25th. BidaskClub raised Scholastic Corporation from a “sell” rating to a “hold” rating in a research report on Saturday, June 10th. Finally, Stifel Nicolaus cut their price target on Scholastic Corporation from $45.00 to $44.00 and set a “hold” rating on the stock in a research report on Tuesday, March 28th.
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In other news, Director Andres A. Alonso sold 964 shares of the stock in a transaction that occurred on Tuesday, April 25th. The stock was sold at an average price of $43.48, for a total transaction of $41,914.72. Following the sale, the director now directly owns 1,089 shares in the company, valued at approximately $47,349.72. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Richard Robinson sold 98,681 shares of the firm’s stock in a transaction that occurred on Tuesday, April 25th. The shares were sold at an average price of $43.56, for a total value of $4,298,544.36. Following the completion of the sale, the chief executive officer now owns 4,363,261 shares in the company, valued at $190,063,649.16. The disclosure for this sale can be found here. Insiders have sold a total of 225,783 shares of company stock worth $9,787,473 over the last quarter. Insiders own 24.16% of the company’s stock.
A number of hedge funds have recently bought and sold shares of SCHL. Sei Investments Co. boosted its stake in Scholastic Corporation by 69.6% in the first quarter. Sei Investments Co. now owns 2,454 shares of the company’s stock valued at $105,000 after buying an additional 1,007 shares in the last quarter. Quantbot Technologies LP acquired a new stake in Scholastic Corporation during the first quarter valued at approximately $110,000. State of Alaska Department of Revenue boosted its stake in Scholastic Corporation by 2.4% in the first quarter. State of Alaska Department of Revenue now owns 2,970 shares of the company’s stock valued at $126,000 after buying an additional 70 shares in the last quarter. 1st Global Advisors Inc. boosted its stake in Scholastic Corporation by 1.5% in the first quarter. 1st Global Advisors Inc. now owns 5,419 shares of the company’s stock valued at $231,000 after buying an additional 80 shares in the last quarter. Finally, Mason Street Advisors LLC boosted its stake in Scholastic Corporation by 6.9% in the first quarter. Mason Street Advisors LLC now owns 6,295 shares of the company’s stock valued at $268,000 after buying an additional 407 shares in the last quarter. Hedge funds and other institutional investors own 79.09% of the company’s stock.
About Scholastic Corporation
Scholastic Corporation is a publisher and distributor of children’s books, a provider of print and digital instructional materials for pre-kindergarten (pre-K) to grade 12, and a producer of educational and entertaining children’s media. The Company operates through three segments: Children’s Book Publishing and Distribution, Education and International.