Scholastic Co. (NASDAQ:SCHL) Announces Quarterly Dividend of $0.20

Scholastic Co. (NASDAQ:SCHLGet Rating) declared a quarterly dividend on Thursday, September 22nd, Wall Street Journal reports. Shareholders of record on Monday, October 31st will be given a dividend of 0.20 per share on Thursday, December 15th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.98%. The ex-dividend date is Friday, October 28th.

Scholastic Stock Performance

Scholastic stock opened at $40.34 on Friday. The stock has a market capitalization of $1.39 billion, a price-to-earnings ratio of 18.09 and a beta of 0.88. Scholastic has a 52-week low of $32.68 and a 52-week high of $48.28. The stock’s 50 day moving average price is $44.42 and its two-hundred day moving average price is $39.85.

Analysts Set New Price Targets

SCHL has been the topic of a number of research analyst reports. StockNews.com upgraded Scholastic from a “buy” rating to a “strong-buy” rating in a report on Monday, July 25th. TheStreet upgraded Scholastic from a “c” rating to a “b” rating in a report on Thursday, July 21st.

Insider Buying and Selling

In related news, insider Sasha Quinton sold 2,599 shares of the stock in a transaction on Thursday, August 11th. The stock was sold at an average price of $47.21, for a total value of $122,698.79. Following the transaction, the insider now directly owns 31,307 shares in the company, valued at approximately $1,478,003.47. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 16.67% of the stock is owned by company insiders.

Hedge Funds Weigh In On Scholastic

Several large investors have recently bought and sold shares of the stock. Bank of Montreal Can lifted its stake in Scholastic by 2.6% during the 1st quarter. Bank of Montreal Can now owns 14,576 shares of the company’s stock valued at $610,000 after acquiring an additional 363 shares in the last quarter. Rhumbline Advisers lifted its stake in Scholastic by 0.8% during the 1st quarter. Rhumbline Advisers now owns 84,705 shares of the company’s stock valued at $3,412,000 after acquiring an additional 688 shares in the last quarter. Captrust Financial Advisors lifted its stake in Scholastic by 69.8% during the 1st quarter. Captrust Financial Advisors now owns 2,054 shares of the company’s stock valued at $83,000 after acquiring an additional 844 shares in the last quarter. Natixis Advisors L.P. lifted its stake in Scholastic by 5.7% during the 2nd quarter. Natixis Advisors L.P. now owns 16,619 shares of the company’s stock valued at $598,000 after acquiring an additional 895 shares in the last quarter. Finally, Legal & General Group Plc increased its position in shares of Scholastic by 1.4% during the 2nd quarter. Legal & General Group Plc now owns 84,421 shares of the company’s stock valued at $3,037,000 after purchasing an additional 1,173 shares during the last quarter. 81.48% of the stock is currently owned by institutional investors.

About Scholastic

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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 publishes and distributes children's books, e-books, media, and interactive products through its school book club and fair channels, as well as trade channels.

See Also

Dividend History for Scholastic (NASDAQ:SCHL)

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