Insider Selling: Scholastic Corp (SCHL) CEO Sells 41,745 Shares of Stock

Scholastic Corp (NASDAQ:SCHL) CEO Richard Robinson sold 41,745 shares of the firm’s stock in a transaction that occurred on Thursday, April 5th. The stock was sold at an average price of $38.48, for a total transaction of $1,606,347.60. Following the sale, the chief executive officer now directly owns 4,366,372 shares of the company’s stock, valued at approximately $168,017,994.56. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Richard Robinson also recently made the following trade(s):

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  • On Tuesday, April 3rd, Richard Robinson sold 8,769 shares of Scholastic stock. The stock was sold at an average price of $38.46, for a total transaction of $337,255.74.
  • On Thursday, March 29th, Richard Robinson sold 1,200 shares of Scholastic stock. The stock was sold at an average price of $39.23, for a total transaction of $47,076.00.

Shares of SCHL opened at $38.09 on Friday. Scholastic Corp has a 12-month low of $33.51 and a 12-month high of $46.59. The firm has a market cap of $1,344.90, a P/E ratio of 30.73 and a beta of 0.76.

Scholastic (NASDAQ:SCHL) last announced its quarterly earnings data on Wednesday, March 21st. The company reported ($0.30) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.35) by $0.05. Scholastic had a positive return on equity of 3.58% and a negative net margin of 1.00%. The firm had revenue of $344.70 million for the quarter, compared to analysts’ expectations of $350.10 million. During the same period last year, the business posted ($0.36) earnings per share. The firm’s revenue for the quarter was up 2.5% on a year-over-year basis. analysts predict that Scholastic Corp will post 1.45 EPS for the current fiscal year.

Scholastic declared that its Board of Directors has initiated a stock buyback program on Wednesday, March 21st that permits the company to buyback $50.00 million in outstanding shares. This buyback authorization permits the company to purchase shares of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board of directors believes its stock is undervalued.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 15th. Investors of record on Monday, April 30th will be paid a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 1.58%. The ex-dividend date of this dividend is Friday, April 27th. Scholastic’s dividend payout ratio (DPR) is presently 32.79%.

A number of analysts have recently weighed in on SCHL shares. BidaskClub downgraded shares of Scholastic from a “buy” rating to a “hold” rating in a research report on Tuesday, December 12th. Stifel Nicolaus raised their price objective on Scholastic from $38.00 to $41.00 and gave the stock a “hold” rating in a research note on Wednesday, December 13th. Zacks Investment Research cut Scholastic from a “hold” rating to a “sell” rating in a research note on Friday, December 15th. TheStreet upgraded Scholastic from a “c” rating to a “b-” rating in a research note on Thursday, December 14th. Finally, Gabelli restated a “buy” rating on shares of Scholastic in a research note on Friday, March 23rd. Three investment analysts have rated the stock with a hold rating and one has given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $41.00.

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Swiss National Bank lifted its stake in 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 purchasing an additional 2,100 shares during the last quarter. Sei Investments Co. lifted its stake in Scholastic by 32.0% in the third quarter. Sei Investments Co. now owns 8,661 shares of the company’s stock valued at $322,000 after buying an additional 2,102 shares during the last quarter. Municipal Employees Retirement System of Michigan lifted its stake in Scholastic by 62.7% in the third quarter. Municipal Employees Retirement System of Michigan now owns 10,460 shares of the company’s stock valued at $389,000 after buying an additional 4,030 shares during the last quarter. Suntrust Banks Inc. lifted its stake in Scholastic by 25.9% in the fourth quarter. Suntrust Banks Inc. now owns 33,982 shares of the company’s stock valued at $1,362,000 after buying an additional 6,986 shares during the last quarter. Finally, Rhumbline Advisers lifted its stake in Scholastic by 11.9% in the fourth quarter. Rhumbline Advisers now owns 66,388 shares of the company’s stock valued at $2,663,000 after buying an additional 7,082 shares during the last quarter. Hedge funds and other institutional investors own 83.47% of the company’s stock.

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About Scholastic

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.

Insider Buying and Selling by Quarter for Scholastic (NASDAQ:SCHL)

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