Bank of New York Mellon Corp Lowers Stake in Scholastic Corporation (SCHL)

Bank of New York Mellon Corp trimmed its position in Scholastic Corporation (NASDAQ:SCHL) by 1.3% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 846,029 shares of the company’s stock after selling 11,549 shares during the quarter. Bank of New York Mellon Corp owned about 2.41% of Scholastic Corporation worth $36,878,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of SCHL. Teachers Advisors LLC boosted its holdings in Scholastic Corporation by 2.7% in the 4th quarter. Teachers Advisors LLC now owns 44,161 shares of the company’s stock valued at $2,097,000 after purchasing an additional 1,144 shares during the last quarter. Bank of Montreal Can boosted its holdings in Scholastic Corporation by 3.2% in the 1st quarter. Bank of Montreal Can now owns 6,571 shares of the company’s stock valued at $279,000 after purchasing an additional 201 shares during the last quarter. Louisiana State Employees Retirement System lifted its holdings in shares of Scholastic Corporation by 1.9% in the 1st quarter. Louisiana State Employees Retirement System now owns 11,000 shares of the company’s stock worth $468,000 after acquiring an additional 200 shares during the last quarter. State of Alaska Department of Revenue lifted its holdings in shares of Scholastic Corporation by 2.4% in the 1st quarter. State of Alaska Department of Revenue now owns 2,970 shares of the company’s stock worth $126,000 after acquiring an additional 70 shares during the last quarter. Finally, Nationwide Fund Advisors lifted its holdings in shares of Scholastic Corporation by 133.9% in the 1st quarter. Nationwide Fund Advisors now owns 46,754 shares of the company’s stock worth $1,990,000 after acquiring an additional 26,764 shares during the last quarter. Institutional investors own 78.99% of the company’s stock.

Several equities analysts have recently commented on the stock. Stifel Nicolaus restated a “hold” rating and issued a $44.00 price objective on shares of Scholastic Corporation in a report on Wednesday, August 16th. BidaskClub upgraded shares of Scholastic Corporation from a “sell” rating to a “hold” rating in a report on Wednesday, July 19th. Finally, Zacks Investment Research upgraded shares of Scholastic Corporation from a “hold” rating to a “buy” rating and set a $50.00 target price on the stock in a report on Friday, July 21st.

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Shares of Scholastic Corporation (NASDAQ:SCHL) opened at 39.23 on Friday. The stock has a market capitalization of $1.38 billion, a P/E ratio of 26.61 and a beta of 0.75. The firm has a 50 day moving average of $39.54 and a 200-day moving average of $42.42. Scholastic Corporation has a 12 month low of $35.20 and a 12 month high of $49.38.

Scholastic Corporation (NASDAQ:SCHL) last announced its earnings results on Thursday, July 20th. The company reported $1.31 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.09 by $0.22. Scholastic Corporation had a return on equity of 5.10% and a net margin of 3.00%. The company had revenue of $499.60 million during the quarter, compared to analyst estimates of $508.00 million. During the same period last year, the company posted $1.22 earnings per share. The firm’s quarterly revenue was down 2.8% compared to the same quarter last year. Analysts forecast that Scholastic Corporation will post $1.21 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which was paid on Friday, September 15th. Stockholders of record on Thursday, August 31st were paid a $0.15 dividend. The ex-dividend date of this dividend was Tuesday, August 29th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.53%. Scholastic Corporation’s dividend payout ratio (DPR) is presently 41.96%.

Scholastic Corporation Company Profile

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.

Institutional Ownership by Quarter for Scholastic Corporation (NASDAQ:SCHL)

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