Ray Gerald L & Associates Ltd. Continues to Hold Stake in Scholastic Corporation (SCHL)
Ray Gerald L & Associates Ltd. held its position in Scholastic Corporation (NASDAQ:SCHL) during the second quarter, according to its most recent 13F filing with the SEC. The fund owned 9,800 shares of the company’s stock at the end of the second quarter. Ray Gerald L & Associates Ltd.’s holdings in Scholastic Corporation were worth $427,000 at the end of the most recent reporting period.
Other institutional investors have also recently added to or reduced their stakes in the company. Sei Investments Co. increased its position 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 period. Federated Investors Inc. PA purchased a new position in Scholastic Corporation during the second quarter valued at $111,000. Quantbot Technologies LP purchased a new position in Scholastic Corporation during the first quarter valued at $110,000. State of Alaska Department of Revenue increased its position 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 period. Finally, Bessemer Group Inc. increased its position 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 period. Institutional investors and hedge funds own 78.99% of the company’s stock.
Shares of Scholastic Corporation (SCHL) opened at 39.31 on Thursday. The firm has a market cap of $1.38 billion, a PE ratio of 26.67 and a beta of 0.74. The company has a 50 day moving average price of $40.94 and a 200 day moving average price of $43.14. Scholastic Corporation has a 12-month low of $35.20 and a 12-month high of $49.38.
Scholastic Corporation (NASDAQ:SCHL) last issued its earnings results on Thursday, July 20th. The company reported $1.31 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 net margin of 3.00% and a return on equity of 5.10%. The company’s revenue for the quarter was down 2.8% on a year-over-year basis. During the same quarter last year, the business posted $1.22 EPS. On average, analysts forecast that Scholastic Corporation will post $1.21 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 15th. Stockholders of record on Thursday, August 31st will be issued a dividend of $0.15 per share. The ex-dividend date of this dividend is Tuesday, August 29th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.53%. Scholastic Corporation’s dividend payout ratio is currently 41.96%.
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Several research firms have recently weighed in on SCHL. Stifel Nicolaus restated a “hold” rating and issued a $44.00 target price on shares of Scholastic Corporation in a research report on Wednesday, August 16th. BidaskClub raised Scholastic Corporation from a “sell” rating to a “hold” rating in a report on Wednesday, July 19th. Finally, Zacks Investment Research raised Scholastic Corporation from a “hold” rating to a “buy” rating and set a $50.00 price target for the company in a report on Friday, July 21st.
In other news, CEO Richard Robinson sold 67,993 shares of the firm’s stock in a transaction on Friday, June 2nd. The shares were 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 owns 4,350,943 shares in the company, valued at approximately $187,438,624.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Judith Newman sold 5,000 shares of the firm’s stock in a transaction on Monday, June 12th. The shares were sold at an average price of $45.04, for a total transaction of $225,200.00. Following the transaction, the executive vice president now owns 18,894 shares in the company, valued at approximately $850,985.76. The disclosure for this sale can be found here. Insiders have sold a total of 73,094 shares of company stock worth $3,159,010 in the last 90 days. 22.30% of the stock is owned by 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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