Scholastic Corp (NASDAQ:SCHL) CEO Richard Robinson sold 1,200 shares of the firm’s stock in a transaction on Thursday, March 29th. The stock was sold at an average price of $39.23, for a total value of $47,076.00. Following the completion of the sale, the chief executive officer now directly owns 4,356,228 shares of the company’s stock, valued at $170,894,824.44. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.
Richard Robinson also recently made the following trade(s):
- On Thursday, April 12th, Richard Robinson sold 83,860 shares of Scholastic stock. The shares were sold at an average price of $39.61, for a total value of $3,321,694.60.
- On Monday, April 9th, Richard Robinson sold 37,077 shares of Scholastic stock. The shares were sold at an average price of $38.63, for a total value of $1,432,284.51.
- On Thursday, April 5th, Richard Robinson sold 41,745 shares of Scholastic stock. The shares were sold at an average price of $38.48, for a total value of $1,606,347.60.
- On Tuesday, April 3rd, Richard Robinson sold 8,769 shares of Scholastic stock. The shares were sold at an average price of $38.46, for a total value of $337,255.74.
Shares of NASDAQ:SCHL traded up $0.66 during trading on Tuesday, reaching $41.42. 120,472 shares of the company were exchanged, compared to its average volume of 132,960. The firm has a market cap of $1,390.06, a PE ratio of 31.76 and a beta of 0.76. Scholastic Corp has a 12-month low of $33.51 and a 12-month high of $46.59.
Scholastic declared that its board has initiated a stock buyback program on Wednesday, March 21st that permits the company to repurchase $50.00 million in outstanding shares. This repurchase authorization permits the company to repurchase shares of its stock through open market purchases. Shares repurchase programs are usually a sign that the company’s management believes its shares are undervalued.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 15th. Investors of record on Monday, April 30th will be issued a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 1.45%. The ex-dividend date of this dividend is Friday, April 27th. Scholastic’s payout ratio is 32.79%.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Schwab Charles Investment Management Inc. grew its holdings in Scholastic by 3.1% in the third quarter. Schwab Charles Investment Management Inc. now owns 260,720 shares of the company’s stock worth $9,699,000 after purchasing an additional 7,738 shares during the last quarter. Wells Fargo & Company MN lifted its stake in shares of Scholastic by 70.6% during the third quarter. Wells Fargo & Company MN now owns 33,179 shares of the company’s stock worth $1,234,000 after buying an additional 13,729 shares during the period. Zuckerman Investment Group LLC lifted its stake in shares of Scholastic by 2.8% during the fourth quarter. Zuckerman Investment Group LLC now owns 649,309 shares of the company’s stock worth $26,044,000 after buying an additional 17,396 shares during the period. Swiss National Bank lifted its stake in shares of Scholastic by 4.3% during the fourth quarter. Swiss National Bank now owns 51,300 shares of the company’s stock worth $2,058,000 after buying an additional 2,100 shares during the period. Finally, Brandes Investment Partners LP acquired a new stake in shares of Scholastic during the fourth quarter worth $1,753,000. 83.86% of the stock is currently owned by institutional investors and hedge funds.
SCHL has been the subject of several recent research reports. BidaskClub cut Scholastic from a “hold” rating to a “sell” rating in a research report on Tuesday, January 9th. TheStreet downgraded shares of Scholastic from a “b-” rating to a “c” rating in a report on Monday, January 22nd. Gabelli reaffirmed a “buy” rating on shares of Scholastic in a report on Friday, March 23rd. Finally, Zacks Investment Research raised shares of Scholastic from a “hold” rating to a “buy” rating and set a $41.00 price target for the company in a report on Tuesday, March 27th. Three equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. Scholastic presently has an average rating of “Hold” and a consensus price target of $41.00.
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Scholastic Company Profile
Scholastic Corporation, together with its subsidiaries, publishes and distributes children's books worldwide. It operates through three segments: Children's Book Publishing and Distribution, Education, and International. The Children's Book Publishing and Distribution segment engages in the publication and distribution of children's books, e-books, media, and interactive products through its school book clubs and book fairs, and trade channel.
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