California Public Employees Retirement System trimmed its holdings in shares of Scholastic Corp (NASDAQ:SCHL) by 1.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 122,148 shares of the company’s stock after selling 1,482 shares during the period. California Public Employees Retirement System’s holdings in Scholastic were worth $4,899,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also made changes to their positions in SCHL. Teacher Retirement System of Texas purchased a new position in shares of Scholastic during the 4th quarter valued at approximately $414,000. Boston Partners increased its holdings in shares of Scholastic by 4.9% during the 4th quarter. Boston Partners now owns 433,832 shares of the company’s stock valued at $17,401,000 after purchasing an additional 20,285 shares in the last quarter. Granite Investment Partners LLC purchased a new position in shares of Scholastic during the 4th quarter valued at approximately $12,740,000. Assenagon Asset Management S.A. purchased a new position in shares of Scholastic during the 4th quarter valued at approximately $2,281,000. Finally, Neuberger Berman Group LLC increased its holdings in shares of Scholastic by 28.3% during the 3rd quarter. Neuberger Berman Group LLC now owns 489,971 shares of the company’s stock valued at $18,227,000 after purchasing an additional 108,156 shares in the last quarter. Institutional investors and hedge funds own 83.47% of the company’s stock.
Several equities analysts have recently weighed in on the stock. BidaskClub lowered shares of Scholastic from a “hold” rating to a “sell” rating in a report on Wednesday, February 21st. TheStreet lowered shares of Scholastic from a “b-” rating to a “c” rating in a report on Monday, January 22nd. Zacks Investment Research lowered shares of Scholastic from a “hold” rating to a “sell” rating in a report on Friday, December 15th. Finally, Stifel Nicolaus lifted their target price on shares of Scholastic from $38.00 to $41.00 and gave the company a “hold” rating in a report on Wednesday, December 13th.
Scholastic (NASDAQ:SCHL) last posted its earnings results on Thursday, December 14th. The company reported $1.92 earnings per share for the quarter, beating the consensus estimate of $1.75 by $0.17. The firm had revenue of $598.30 million during the quarter, compared to analyst estimates of $601.40 million. Scholastic had a net margin of 1.07% and a return on equity of 3.41%. The business’s quarterly revenue was down 4.0% on a year-over-year basis. During the same period in the previous year, the firm earned $1.92 EPS. analysts predict that Scholastic Corp will post 1.27 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, March 15th. Investors of record on Wednesday, January 31st will be issued a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 1.59%. The ex-dividend date of this dividend is Tuesday, January 30th. Scholastic’s payout ratio is presently 133.33%.
In related news, CEO Richard Robinson sold 3,500 shares of the business’s stock in a transaction on Monday, December 18th. The shares were sold at an average price of $40.33, for a total value of $141,155.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Judith Newman sold 2,500 shares of the business’s stock in a transaction on Tuesday, January 16th. The stock was sold at an average price of $39.36, for a total transaction of $98,400.00. Following the completion of the sale, the executive vice president now directly owns 17,269 shares of the company’s stock, valued at approximately $679,707.84. The disclosure for this sale can be found here. 22.30% of the stock is currently owned by insiders.
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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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