Alliancebernstein L.P. Has $87.51 Million Holdings in Scholastic Corporation (SCHL)
Alliancebernstein L.P. raised its stake in shares of Scholastic Corporation (NASDAQ:SCHL) by 5.6% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 2,007,484 shares of the company’s stock after buying an additional 107,349 shares during the quarter. Alliancebernstein L.P. owned about 5.72% of Scholastic Corporation worth $87,506,000 at the end of the most recent reporting period.
Other large investors also recently made changes to their positions in the company. Sei Investments Co. grew its holdings in Scholastic Corporation by 69.6% during the 1st 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 acquired a new stake in Scholastic Corporation during the 1st quarter valued at $110,000. Federated Investors Inc. PA acquired a new stake in Scholastic Corporation during the 2nd quarter valued at $111,000. State of Alaska Department of Revenue grew its holdings in 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 valued at $126,000 after buying an additional 70 shares during the last quarter. Finally, Bessemer Group Inc. grew its holdings in Scholastic Corporation by 11.5% during the 2nd 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. Hedge funds and other institutional investors own 78.99% of the company’s stock.
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A number of equities research analysts have commented on SCHL shares. Zacks Investment Research cut Scholastic Corporation from a “hold” rating to a “sell” rating in a report on Thursday, May 25th. BidaskClub upgraded Scholastic Corporation from a “sell” rating to a “hold” rating in a report on Saturday, June 10th. Finally, Stifel Nicolaus reiterated a “hold” rating and set a $44.00 target price on shares of Scholastic Corporation in a report on Wednesday, August 16th.
Shares of Scholastic Corporation (SCHL) opened at 38.975 on Tuesday. The firm has a market cap of $1.37 billion, a PE ratio of 26.442 and a beta of 0.75. The firm’s 50-day moving average price is $39.82 and its 200-day moving average price is $42.59. Scholastic Corporation has a one year low of $35.20 and a one year high of $49.38.
Scholastic Corporation (NASDAQ:SCHL) last posted 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 company had revenue of $499.60 million for the quarter, compared to analysts’ expectations 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 quarter in the prior year, the company earned $1.22 earnings per share. Equities research analysts expect that Scholastic Corporation will post $1.21 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, September 15th. Shareholders of record on Thursday, August 31st will be issued a $0.15 dividend. 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 currently 41.96%.
Scholastic Corporation Company 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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