Scholastic Corporation (SCHL) Position Decreased by First Mercantile Trust Co.
First Mercantile Trust Co. lowered its stake in shares of Scholastic Corporation (NASDAQ:SCHL) by 5.7% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 4,670 shares of the company’s stock after selling 280 shares during the period. First Mercantile Trust Co.’s holdings in Scholastic Corporation were worth $204,000 at the end of the most recent reporting period.
Other large investors also recently added to or reduced their stakes in the company. Sei Investments Co. boosted its stake in Scholastic Corporation by 69.6% in the first quarter. Sei Investments Co. now owns 2,454 shares of the company’s stock valued at $105,000 after buying an additional 1,007 shares during the last quarter. Quantbot Technologies LP bought a new stake in Scholastic Corporation during the first quarter valued at about $110,000. State of Alaska Department of Revenue boosted its stake in Scholastic Corporation by 2.4% in the first quarter. State of Alaska Department of Revenue now owns 2,970 shares of the company’s stock valued at $126,000 after buying an additional 70 shares during the last quarter. Bessemer Group Inc. boosted its stake in Scholastic Corporation by 11.5% in the second quarter. Bessemer Group Inc. now owns 4,495 shares of the company’s stock valued at $196,000 after buying an additional 462 shares during the last quarter. Finally, 1st Global Advisors Inc. boosted its stake in Scholastic Corporation by 1.5% in the first quarter. 1st Global Advisors Inc. now owns 5,419 shares of the company’s stock valued at $231,000 after buying an additional 80 shares during the last quarter. Hedge funds and other institutional investors own 79.29% of the company’s stock.
Shares of Scholastic Corporation (SCHL) opened at 38.99 on Tuesday. Scholastic Corporation has a 52-week low of $35.20 and a 52-week high of $49.38. The stock’s 50 day moving average is $41.41 and its 200 day moving average is $43.31. The company has a market cap of $1.37 billion, a PE ratio of 26.45 and a beta of 0.74.
Scholastic Corporation (NASDAQ:SCHL) last announced its earnings results on Thursday, July 20th. The company reported $1.31 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.09 by $0.22. The business had revenue of $499.60 million during the quarter, compared to the consensus estimate of $508 million. Scholastic Corporation had a return on equity of 5.10% and a net margin of 3.00%. The business’s quarterly revenue was down 2.8% on a year-over-year basis. During the same period in the prior year, the company posted $1.22 EPS. Equities analysts forecast that Scholastic Corporation will post $1.21 EPS for the current year.
The firm also recently announced 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. This represents a $0.60 annualized dividend and a dividend yield of 1.54%. The ex-dividend date is Tuesday, August 29th. Scholastic Corporation’s payout ratio is 41.96%.
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Several research firms have recently issued reports on SCHL. Stifel Nicolaus reiterated a “hold” rating and set a $44.00 price objective on shares of Scholastic Corporation in a research report on Wednesday, August 16th. BidaskClub upgraded shares of Scholastic Corporation from a “sell” rating to a “hold” rating in a research report on Wednesday, July 19th. Finally, Zacks Investment Research upgraded shares of Scholastic Corporation from a “hold” rating to a “buy” rating and set a $50.00 price objective on the stock in a research report on Friday, July 21st.
In other news, CEO Richard Robinson sold 67,993 shares of the company’s stock in a transaction that occurred on 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 transaction, the chief executive officer now directly owns 4,350,943 shares of the company’s stock, valued at approximately $187,438,624.44. The sale was disclosed in a filing with the SEC, which is available at this link. Also, EVP Judith Newman sold 5,000 shares of the company’s stock in a transaction that occurred on Monday, June 12th. The stock was 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 of the company’s stock, valued at $850,985.76. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 73,094 shares of company stock valued at $3,159,010. Corporate insiders own 22.30% 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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