Point72 DIFC Ltd Trims Stock Holdings in Scholastic Co. (NASDAQ:SCHL)

Point72 DIFC Ltd decreased its holdings in shares of Scholastic Co. (NASDAQ:SCHL) by 57.9% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 3,204 shares of the company’s stock after selling 4,408 shares during the quarter. Point72 DIFC Ltd’s holdings in Scholastic were worth $114,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Jacobs Levy Equity Management Inc. boosted its position in Scholastic by 16.4% during the 1st quarter. Jacobs Levy Equity Management Inc. now owns 306,017 shares of the company’s stock worth $11,540,000 after purchasing an additional 43,199 shares during the period. Acadian Asset Management LLC acquired a new stake in Scholastic in the second quarter valued at $1,295,000. Allianz Asset Management GmbH grew its holdings in Scholastic by 55.6% during the 4th quarter. Allianz Asset Management GmbH now owns 64,154 shares of the company’s stock worth $2,419,000 after acquiring an additional 22,933 shares in the last quarter. Russell Investments Group Ltd. raised its stake in shares of Scholastic by 24.7% in the 1st quarter. Russell Investments Group Ltd. now owns 26,754 shares of the company’s stock valued at $1,009,000 after purchasing an additional 5,299 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. lifted its position in shares of Scholastic by 11.7% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 15,356 shares of the company’s stock worth $579,000 after purchasing an additional 1,612 shares during the last quarter. 82.57% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Separately, StockNews.com upgraded Scholastic from a “hold” rating to a “buy” rating in a research note on Friday, September 27th.

Insider Buying and Selling

In other Scholastic news, CEO Warwick Peter bought 1,674 shares of the stock in a transaction on Tuesday, July 23rd. The shares were purchased at an average price of $30.46 per share, with a total value of $50,990.04. Following the acquisition, the chief executive officer now directly owns 104,349 shares of the company’s stock, valued at approximately $3,178,470.54. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, CEO Warwick Peter purchased 1,674 shares of the stock in a transaction that occurred on Tuesday, July 23rd. The shares were purchased at an average cost of $30.46 per share, for a total transaction of $50,990.04. Following the completion of the purchase, the chief executive officer now directly owns 104,349 shares of the company’s stock, valued at approximately $3,178,470.54. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Iole Lucchese purchased 1,654 shares of the business’s stock in a transaction on Tuesday, July 23rd. The stock was purchased at an average cost of $30.49 per share, with a total value of $50,430.46. Following the acquisition, the executive vice president now owns 74,264 shares in the company, valued at $2,264,309.36. The disclosure for this purchase can be found here. Insiders own 18.62% of the company’s stock.

Scholastic Trading Down 6.4 %

SCHL stock opened at $29.95 on Wednesday. The firm has a market capitalization of $845.79 million, a PE ratio of 20.66 and a beta of 1.03. Scholastic Co. has a one year low of $28.47 and a one year high of $41.79. The firm has a 50-day moving average of $30.91 and a two-hundred day moving average of $34.09.

Scholastic (NASDAQ:SCHL) last issued its quarterly earnings data on Thursday, September 26th. The company reported ($2.13) earnings per share for the quarter, beating the consensus estimate of ($2.48) by $0.35. Scholastic had a net margin of 1.49% and a return on equity of 4.25%. The firm had revenue of $237.20 million for the quarter, compared to analyst estimates of $233.49 million. During the same quarter last year, the firm earned ($2.20) earnings per share. On average, equities research analysts anticipate that Scholastic Co. will post 1.23 earnings per share for the current year.

Scholastic Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Thursday, October 31st will be issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 2.67%. The ex-dividend date of this dividend is Thursday, October 31st. Scholastic’s dividend payout ratio is currently 55.17%.

About Scholastic

Scholastic Corporation publishes and distributes children’s books worldwide. It operates in three segments: Children’s Book Publishing and Distribution, Education Solutions, and International. The Children’s Book Publishing and Distribution segment engages in publication and distribution of children’s print, digital, and audio books, as well as media and interactive products through its school reading events and trade channel; and operation of school-based book clubs and book fairs in the United States.