Ameriprise Financial Inc. raised its stake in Scholastic Corp. (NASDAQ:SCHL) by 3.3% during the second quarter, according to its most recent filing with the SEC. The fund owned 128,515 shares of the company’s stock after buying an additional 4,082 shares during the period. Ameriprise Financial Inc. owned 0.37% of Scholastic Corp. worth $5,090,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also made changes to their positions in SCHL. BlackRock Group LTD boosted its position in shares of Scholastic Corp. by 8.4% in the first quarter. BlackRock Group LTD now owns 40,130 shares of the company’s stock valued at $1,500,000 after buying an additional 3,095 shares in the last quarter. BlackRock Fund Advisors boosted its position in shares of Scholastic Corp. by 1.4% in the first quarter. BlackRock Fund Advisors now owns 1,695,766 shares of the company’s stock valued at $63,371,000 after buying an additional 23,335 shares in the last quarter. BlackRock Institutional Trust Company N.A. boosted its position in shares of Scholastic Corp. by 1.6% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 669,603 shares of the company’s stock valued at $25,023,000 after buying an additional 10,785 shares in the last quarter. Lazard Asset Management LLC boosted its position in shares of Scholastic Corp. by 23.7% in the first quarter. Lazard Asset Management LLC now owns 304,200 shares of the company’s stock valued at $11,367,000 after buying an additional 58,255 shares in the last quarter. Finally, UBS Group AG boosted its position in shares of Scholastic Corp. by 17.7% in the first quarter. UBS Group AG now owns 57,613 shares of the company’s stock valued at $2,153,000 after buying an additional 8,680 shares in the last quarter. 82.10% of the stock is currently owned by institutional investors.
Shares of Scholastic Corp. (NASDAQ:SCHL) traded down 0.05% on Friday, reaching $38.00. 74,431 shares of the company were exchanged. The stock has a market capitalization of $1.31 billion, a PE ratio of 26.57 and a beta of 0.66. The firm has a 50 day moving average price of $39.13 and a 200-day moving average price of $38.84. Scholastic Corp. has a 12-month low of $30.34 and a 12-month high of $44.24.
Scholastic Corp. (NASDAQ:SCHL) last released its earnings results on Thursday, September 22nd. The company reported ($1.15) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($1.17) by $0.02. The firm had revenue of $282.70 million for the quarter. Scholastic Corp. had a net margin of 2.85% and a return on equity of 5.45%. The firm’s revenue was up 47.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($1.42) earnings per share. On average, analysts predict that Scholastic Corp. will post $1.66 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, December 15th. Shareholders of record on Monday, October 31st will be paid a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 1.58%. The ex-dividend date of this dividend is Thursday, October 27th. Scholastic Corp.’s payout ratio is 42.86%.
A number of research analysts recently issued reports on SCHL shares. TheStreet raised shares of Scholastic Corp. from a “hold” rating to a “buy” rating in a research note on Thursday, July 21st. Zacks Investment Research cut shares of Scholastic Corp. from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, July 26th.
In other Scholastic Corp. news, insider Alan J. Boyko sold 12,720 shares of the business’s stock in a transaction dated Monday, August 1st. The shares were sold at an average price of $41.25, for a total value of $524,700.00. Following the transaction, the insider now directly owns 33,820 shares in the company, valued at $1,395,075. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Judith Newman sold 7,600 shares of the business’s stock in a transaction dated Tuesday, August 2nd. The shares were sold at an average price of $41.30, for a total transaction of $313,880.00. Following the completion of the transaction, the executive vice president now owns 30,391 shares in the company, valued at $1,255,148.30. The disclosure for this sale can be found here. 24.16% of the stock is currently owned by company insiders.
Scholastic Corp. Company Profile
Scholastic Corporation is a publisher and distributor of children’s books. The Company has three segments: Children’s Book Publishing and Distribution, Education and International. The Company’s Children’s Book Publishing and Distribution segment includes the publication and distribution of children’s books, e-books, media and interactive products in the United States through its book clubs and book fairs in its school channels and through the trade channel.
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