20,200 Scholastic Corporation $SCHL Shares Sold by Hennessy Advisors Inc.

Hennessy Advisors Inc. decreased its stake in shares of Scholastic Corporation (NASDAQ:SCHL) by 8.9% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 206,800 shares of the company’s stock after selling 20,200 shares during the period. Hennessy Advisors Inc. owned approximately 1.10% of Scholastic worth $7,271,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. VIRGINIA RETIREMENT SYSTEMS ET Al boosted its holdings in Scholastic by 3.7% during the third quarter. VIRGINIA RETIREMENT SYSTEMS ET Al now owns 30,947 shares of the company’s stock worth $1,088,000 after purchasing an additional 1,100 shares during the last quarter. Signaturefd LLC lifted its position in shares of Scholastic by 51.1% in the third quarter. Signaturefd LLC now owns 3,590 shares of the company’s stock valued at $126,000 after buying an additional 1,214 shares during the last quarter. Inspire Investing LLC lifted its position in shares of Scholastic by 25.9% in the third quarter. Inspire Investing LLC now owns 18,276 shares of the company’s stock valued at $643,000 after buying an additional 3,761 shares during the last quarter. Nisa Investment Advisors LLC boosted its stake in shares of Scholastic by 25.0% during the 3rd quarter. Nisa Investment Advisors LLC now owns 23,880 shares of the company’s stock worth $840,000 after acquiring an additional 4,769 shares during the period. Finally, Integrated Wealth Concepts LLC bought a new position in shares of Scholastic during the 2nd quarter worth approximately $56,000. 82.57% of the stock is currently owned by institutional investors and hedge funds.

Scholastic Stock Performance

Shares of SCHL opened at $39.30 on Monday. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.71 and a current ratio of 1.25. Scholastic Corporation has a 52-week low of $26.38 and a 52-week high of $48.07. The firm has a market cap of $741.32 million, a price-to-earnings ratio of 28.07, a PEG ratio of 2.14 and a beta of 1.08. The business’s fifty day moving average is $37.34 and its 200-day moving average is $38.94.

Scholastic (NASDAQ:SCHL) last posted its quarterly earnings data on Thursday, September 24th. The company reported ($3.63) earnings per share for the quarter, missing analysts’ consensus estimates of ($3.42) by ($0.21). Scholastic had a net margin of 3.60% and a return on equity of 5.00%. The company had revenue of $216.80 million during the quarter, compared to analyst estimates of $224.69 million. Equities analysts anticipate that Scholastic Corporation will post 1.41 EPS for the current fiscal year.

Scholastic Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 15th. Stockholders of record on Friday, October 30th will be issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.5%. The ex-dividend date is Friday, October 30th. Scholastic’s dividend payout ratio (DPR) is currently 71.43%.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the stock. Zacks Research raised shares of Scholastic from a “strong sell” rating to a “hold” rating in a report on Tuesday, September 22nd. Weiss Ratings cut Scholastic from a “hold (c+)” rating to a “hold (c-)” rating in a report on Monday, September 28th. Wall Street Zen raised Scholastic from a “sell” rating to a “hold” rating in a research report on Sunday, October 18th. Finally, B. Riley Financial decreased their target price on Scholastic from $42.00 to $35.00 and set a “neutral” rating on the stock in a research report on Monday, September 28th. Three research analysts have rated the stock with a Hold rating. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $35.00.

Insider Activity

In other Scholastic news, Director Andres A. Alonso sold 2,112 shares of the business’s stock in a transaction that occurred on Wednesday, August 26th. The stock was sold at an average price of $40.28, for a total transaction of $85,071.36. Following the completion of the sale, the director directly owned 21,189 shares of the company’s stock, valued at approximately $853,492.92. The trade was a 9.06% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Iole Lucchese sold 289,624 shares of the firm’s stock in a transaction on Wednesday, August 26th. The shares were sold at an average price of $39.76, for a total value of $11,515,450.24. Following the transaction, the executive vice president owned 289,623 shares in the company, valued at approximately $11,515,410.48. This trade represents a 50.00% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 294,986 shares of company stock worth $11,731,334 over the last three months. 12.77% of the stock is currently owned by insiders.

About Scholastic

Scholastic Corporation (NASDAQ:SCHL) is a global children’s publishing, education and media company. It develops and distributes books, digital content, classroom magazines, educational technology and other learning materials for children, educators and families.

The company publishes fiction and nonfiction for children and young adults through trade imprints and recognizable series and brands, including Harry Potter, Clifford the Big Red Dog, Goosebumps, Captain Underpants and The Hunger Games.