State of Alaska Department of Revenue Buys 2,376 Shares of Scholastic Corporation (NASDAQ:SCHL)
State of Alaska Department of Revenue increased its stake in Scholastic Corporation (NASDAQ:SCHL) by 80.0% during the second quarter, Holdings Channel reports. The fund owned 5,346 shares of the company’s stock after buying an additional 2,376 shares during the period. State of Alaska Department of Revenue’s holdings in Scholastic Corporation were worth $233,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently made changes to their positions in SCHL. BlackRock Inc. increased its position in shares of Scholastic Corporation by 47,605.6% in the first quarter. BlackRock Inc. now owns 3,344,642 shares of the company’s stock valued at $142,381,000 after buying an additional 3,337,631 shares during the last quarter. Norges Bank bought a new position in shares of Scholastic Corporation during the fourth quarter valued at approximately $19,316,000. Acadian Asset Management LLC increased its position in shares of Scholastic Corporation by 91.6% in the first quarter. Acadian Asset Management LLC now owns 366,442 shares of the company’s stock valued at $15,597,000 after buying an additional 175,225 shares during the last quarter. Barrow Hanley Mewhinney & Strauss LLC bought a new position in shares of Scholastic Corporation during the first quarter valued at approximately $4,240,000. Finally, Blair William & Co. IL bought a new position in shares of Scholastic Corporation during the first quarter valued at approximately $3,307,000. 79.68% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Scholastic Corporation (NASDAQ:SCHL) traded down 0.05% on Friday, reaching $40.41. The company’s stock had a trading volume of 20,967 shares. Scholastic Corporation has a 12 month low of $35.20 and a 12 month high of $49.38. The stock has a 50 day moving average of $43.38 and a 200-day moving average of $43.91. The firm has a market cap of $1.42 billion, a price-to-earnings ratio of 27.42 and a beta of 0.74.
Scholastic Corporation (NASDAQ:SCHL) last announced its quarterly earnings data on Thursday, July 20th. The company reported $1.31 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.09 by $0.22. Scholastic Corporation had a return on equity of 5.10% and a net margin of 3.00%. The firm had revenue of $499.60 million for the quarter, compared to analysts’ expectations of $508 million. During the same period last year, the firm earned $1.22 earnings per share. The company’s revenue for the quarter was down 2.8% compared to the same quarter last year. On average, analysts anticipate that Scholastic Corporation will post $1.21 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 15th. Stockholders of record on Thursday, August 31st will be paid a dividend of $0.15 per share. The ex-dividend date is Tuesday, August 29th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.48%. Scholastic Corporation’s dividend payout ratio (DPR) is currently 41.96%.
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Several research analysts have commented on SCHL shares. BidaskClub downgraded Scholastic Corporation from a “hold” rating to a “sell” rating in a report on Saturday, July 8th. Zacks Investment Research downgraded Scholastic Corporation from a “hold” rating to a “sell” rating in a report on Thursday, May 25th.
In other news, 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 transaction, the chief executive officer now directly owns 4,350,943 shares of the company’s stock, valued at $187,438,624.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, 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 transaction, the executive vice president now directly owns 18,894 shares in the company, valued at $850,985.76. The disclosure for this sale can be found here. Insiders have sold 126,239 shares of company stock worth $5,451,685 over the last ninety days. Insiders own 24.16% of the company’s stock.
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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