Scholastic Corporation (SCHL) Stake Boosted by Neuberger Berman Group LLC
Neuberger Berman Group LLC lifted its position in shares of Scholastic Corporation (NASDAQ:SCHL) by 28.4% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 381,815 shares of the company’s stock after purchasing an additional 84,451 shares during the quarter. Neuberger Berman Group LLC owned 1.09% of Scholastic Corporation worth $16,643,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently made changes to their positions in SCHL. Teachers Advisors LLC boosted its position in shares of Scholastic Corporation by 2.7% during the fourth quarter. Teachers Advisors LLC now owns 44,161 shares of the company’s stock worth $2,097,000 after purchasing an additional 1,144 shares in the last quarter. Bank of Montreal Can boosted its position in shares of Scholastic Corporation by 3.2% during the first quarter. Bank of Montreal Can now owns 6,571 shares of the company’s stock worth $279,000 after purchasing an additional 201 shares in the last quarter. Louisiana State Employees Retirement System boosted its position in shares of Scholastic Corporation by 1.9% during the first quarter. Louisiana State Employees Retirement System now owns 11,000 shares of the company’s stock worth $468,000 after purchasing an additional 200 shares in the last quarter. State of Alaska Department of Revenue boosted its position in shares of Scholastic Corporation by 2.4% during the first quarter. State of Alaska Department of Revenue now owns 2,970 shares of the company’s stock worth $126,000 after purchasing an additional 70 shares in the last quarter. Finally, Nationwide Fund Advisors boosted its position in shares of Scholastic Corporation by 133.9% during the first quarter. Nationwide Fund Advisors now owns 46,754 shares of the company’s stock worth $1,990,000 after purchasing an additional 26,764 shares in the last quarter. 78.99% of the stock is currently owned by institutional investors.
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A number of equities analysts have recently weighed in on SCHL shares. Zacks Investment Research cut shares of Scholastic Corporation from a “hold” rating to a “sell” rating in a research report on Thursday, May 25th. BidaskClub raised shares of Scholastic Corporation from a “sell” rating to a “hold” rating in a research report on Saturday, June 10th. Finally, Stifel Nicolaus reissued a “hold” rating and set a $44.00 price target on shares of Scholastic Corporation in a research report on Wednesday, August 16th.
Shares of Scholastic Corporation (SCHL) opened at 38.80 on Friday. Scholastic Corporation has a 52-week low of $35.20 and a 52-week high of $49.38. The company has a 50-day moving average of $40.04 and a 200 day moving average of $42.71. The company has a market capitalization of $1.36 billion, a PE ratio of 26.32 and a beta of 0.75.
Scholastic Corporation (NASDAQ:SCHL) last posted its quarterly earnings data 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. Scholastic Corporation had a net margin of 3.00% and a return on equity of 5.10%. The company had revenue of $499.60 million during the quarter, compared to analysts’ expectations of $508 million. During the same period in the prior year, the company posted $1.22 earnings per share. Scholastic Corporation’s revenue for the quarter was down 2.8% compared to the same quarter last year. Analysts predict that Scholastic Corporation will post $1.21 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 15th. Stockholders of record on Thursday, August 31st will be given a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 1.55%. The ex-dividend date is Tuesday, August 29th. Scholastic Corporation’s dividend payout ratio (DPR) is presently 41.96%.
In related news, EVP Judith Newman sold 5,000 shares of the 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 directly 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 this hyperlink. 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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