JPMorgan Chase & Co. Has $3.62 Million Stake in Scholastic Corporation (NASDAQ:SCHL)
JPMorgan Chase & Co. decreased its stake in Scholastic Corporation (NASDAQ:SCHL) by 9.9% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 85,126 shares of the company’s stock after selling 9,379 shares during the period. JPMorgan Chase & Co. owned about 0.24% of Scholastic Corporation worth $3,624,000 at the end of the most recent reporting period.
A number of other large investors have also recently modified their holdings of the company. Russell Investments Group Ltd. purchased a new stake in shares of Scholastic Corporation during the fourth quarter valued at about $3,540,000. State Street Corp raised its stake in shares of Scholastic Corporation by 15.6% in the fourth quarter. State Street Corp now owns 654,891 shares of the company’s stock valued at $31,102,000 after buying an additional 88,492 shares during the period. Two Sigma Investments LP raised its stake in shares of Scholastic Corporation by 480.0% in the fourth quarter. Two Sigma Investments LP now owns 42,268 shares of the company’s stock valued at $2,007,000 after buying an additional 34,980 shares during the period. Guggenheim Capital LLC raised its stake in shares of Scholastic Corporation by 220.0% in the fourth quarter. Guggenheim Capital LLC now owns 56,771 shares of the company’s stock valued at $2,696,000 after buying an additional 39,030 shares during the period. Finally, Thrivent Financial for Lutherans raised its stake in shares of Scholastic Corporation by 6.0% in the fourth quarter. Thrivent Financial for Lutherans now owns 14,460 shares of the company’s stock valued at $687,000 after buying an additional 820 shares during the period. 79.68% of the stock is owned by hedge funds and other institutional investors.
Scholastic Corporation (NASDAQ:SCHL) traded up 0.40% during midday trading on Friday, hitting $40.59. The stock had a trading volume of 118,980 shares. The company has a market capitalization of $1.43 billion, a PE ratio of 27.54 and a beta of 0.74. The stock’s 50-day moving average is $43.38 and its 200-day moving average is $43.91. Scholastic Corporation has a 1-year low of $35.20 and a 1-year high of $49.38.
Scholastic Corporation (NASDAQ:SCHL) last released its quarterly earnings results on Thursday, July 20th. The company reported $1.31 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.09 by $0.22. The company had revenue of $499.60 million during the quarter, compared to analyst estimates of $508 million. Scholastic Corporation had a return on equity of 5.10% and a net margin of 3.00%. The firm’s revenue was down 2.8% on a year-over-year basis. During the same quarter last year, the business posted $1.22 earnings per share. Equities research analysts forecast that Scholastic Corporation will post $1.21 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, September 15th. Investors of record on Thursday, August 31st will be given a $0.15 dividend. The ex-dividend date of this dividend is Tuesday, August 29th. This represents a $0.60 annualized dividend and a yield of 1.48%. Scholastic Corporation’s dividend payout ratio is currently 41.96%.
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A number of equities research analysts have recently weighed in on SCHL shares. BidaskClub lowered Scholastic Corporation from a “sell” rating to a “strong sell” rating in a research note on Monday. Zacks Investment Research lowered Scholastic Corporation from a “hold” rating to a “sell” rating in a research note on Thursday, May 25th.
In other Scholastic Corporation news, EVP Judith Newman sold 5,000 shares of the firm’s stock in a transaction dated Monday, June 12th. The shares were sold at an average price of $45.04, for a total value of $225,200.00. Following the completion of the sale, the executive vice president now owns 18,894 shares of the company’s stock, valued at $850,985.76. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Richard Robinson sold 67,993 shares of the firm’s stock in a transaction dated Friday, June 2nd. The stock was sold at an average price of $43.08, for a total transaction of $2,929,138.44. Following the completion of the sale, the chief executive officer now directly owns 4,350,943 shares of the company’s stock, valued at approximately $187,438,624.44. The disclosure for this sale can be found here. In the last quarter, insiders sold 126,239 shares of company stock valued at $5,451,685. 24.16% of the stock is currently owned by company insiders.
About Scholastic Corporation
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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