State Street Corp boosted its position in shares of Scholastic Corporation (NASDAQ:SCHL) by 3.6% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 700,740 shares of the company’s stock after purchasing an additional 24,289 shares during the period. State Street Corp owned 2.00% of Scholastic Corporation worth $30,543,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in SCHL. Federated Investors Inc. PA acquired a new stake in Scholastic Corporation during the second quarter valued at $111,000. Bessemer Group Inc. lifted its position in shares of Scholastic Corporation by 11.5% in the second quarter. Bessemer Group Inc. now owns 4,495 shares of the company’s stock worth $196,000 after buying an additional 462 shares during the last quarter. State of Alaska Department of Revenue lifted its position in shares of Scholastic Corporation by 80.0% in the second quarter. State of Alaska Department of Revenue now owns 5,346 shares of the company’s stock worth $233,000 after buying an additional 2,376 shares during the last quarter. UBS Asset Management Americas Inc. lifted its position in shares of Scholastic Corporation by 41.3% in the first quarter. UBS Asset Management Americas Inc. now owns 6,499 shares of the company’s stock worth $277,000 after buying an additional 1,900 shares during the last quarter. Finally, Sei Investments Co. lifted its position in shares of Scholastic Corporation by 167.3% in the second quarter. Sei Investments Co. now owns 6,559 shares of the company’s stock worth $286,000 after buying an additional 4,105 shares during the last quarter. 78.94% of the stock is owned by hedge funds and other institutional investors.
Shares of Scholastic Corporation (NASDAQ:SCHL) opened at $37.00 on Friday. Scholastic Corporation has a 12-month low of $33.51 and a 12-month high of $49.38. The firm has a market capitalization of $1,308.12, a PE ratio of 29.42 and a beta of 0.76.
Scholastic Corporation (NASDAQ:SCHL) last announced its quarterly earnings results on Thursday, September 21st. The company reported ($1.67) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.34) by ($0.33). Scholastic Corporation had a return on equity of 3.57% and a net margin of 1.71%. The company had revenue of $189.20 million during the quarter, compared to analyst estimates of $208.00 million. During the same period in the prior year, the firm earned ($1.15) EPS. Scholastic Corporation’s quarterly revenue was down 33.1% on a year-over-year basis. equities research analysts predict that Scholastic Corporation will post 1.19 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Tuesday, October 31st will be given a $0.15 dividend. The ex-dividend date of this dividend is Monday, October 30th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.62%. Scholastic Corporation’s dividend payout ratio is currently 77.92%.
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A number of brokerages have weighed in on SCHL. BidaskClub cut Scholastic Corporation from a “hold” rating to a “sell” rating in a research report on Tuesday, July 25th. Stifel Nicolaus reaffirmed a “hold” rating and issued a $44.00 price target on shares of Scholastic Corporation in a research report on Wednesday, August 16th. Finally, Zacks Investment Research cut Scholastic Corporation from a “hold” rating to a “sell” rating in a research report on Wednesday, September 20th.
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.
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