AMG Funds LLC Sells 461 Shares of Scholastic Corporation (SCHL)
AMG Funds LLC trimmed its position in Scholastic Corporation (NASDAQ:SCHL) by 1.9% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 23,650 shares of the company’s stock after selling 461 shares during the period. AMG Funds LLC owned about 0.07% of Scholastic Corporation worth $1,031,000 at the end of the most recent reporting period.
A number of other large investors have also recently added to or reduced their stakes in the business. Sei Investments Co. lifted its holdings in shares of Scholastic Corporation by 69.6% during the 1st quarter. Sei Investments Co. now owns 2,454 shares of the company’s stock worth $105,000 after acquiring an additional 1,007 shares during the period. Quantbot Technologies LP purchased a new position in shares of Scholastic Corporation during the 1st quarter worth about $110,000. Federated Investors Inc. PA purchased a new position in shares of Scholastic Corporation during the 2nd quarter worth about $111,000. State of Alaska Department of Revenue lifted its holdings in shares of Scholastic Corporation by 2.4% during the 1st quarter. State of Alaska Department of Revenue now owns 2,970 shares of the company’s stock worth $126,000 after acquiring an additional 70 shares during the period. Finally, Bessemer Group Inc. lifted its holdings in shares of Scholastic Corporation by 11.5% during the 2nd quarter. Bessemer Group Inc. now owns 4,495 shares of the company’s stock worth $196,000 after acquiring an additional 462 shares during the period. Institutional investors own 78.99% of the company’s stock.
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In other news, EVP Judith Newman sold 5,000 shares of Scholastic Corporation stock in a transaction dated Monday, June 12th. The stock was sold at an average price of $45.04, for a total transaction of $225,200.00. Following the completion of the sale, the executive vice president now directly owns 18,894 shares in the company, valued at approximately $850,985.76. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 22.30% of the stock is owned by insiders.
Several research analysts have recently weighed in on the stock. 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 report on Friday, July 21st. BidaskClub lowered shares of Scholastic Corporation from a “hold” rating to a “sell” rating in a report on Tuesday, July 25th. Finally, Stifel Nicolaus reiterated a “hold” rating and set a $44.00 price objective on shares of Scholastic Corporation in a report on Wednesday, August 16th.
Shares of Scholastic Corporation (NASDAQ SCHL) traded up 0.10% on Friday, hitting $38.84. 119,609 shares of the stock traded hands. The company’s 50 day moving average is $39.89 and its 200 day moving average is $42.68. The stock has a market cap of $1.36 billion, a price-to-earnings ratio of 26.35 and a beta of 0.75. Scholastic Corporation has a one year low of $35.20 and a one year high of $49.38.
Scholastic Corporation (NASDAQ:SCHL) last announced its quarterly earnings results on Thursday, July 20th. The company reported $1.31 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.09 by $0.22. The business 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 period in the previous year, the company earned $1.22 EPS. On average, equities analysts forecast that Scholastic Corporation will post $1.21 EPS for the current year.
The company 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 annualized dividend and a dividend yield of 1.54%. Scholastic Corporation’s dividend payout ratio is 41.96%.
Scholastic Corporation Profile
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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