JPMorgan Chase & Co. lowered its stake in shares of Scholastic Corporation (NASDAQ:SCHL) by 11.3% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 75,494 shares of the company’s stock after selling 9,632 shares during the period. JPMorgan Chase & Co. owned about 0.21% of Scholastic Corporation worth $3,290,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently added to or reduced their stakes in the company. Bank of Montreal Can increased its stake in shares of Scholastic Corporation by 0.9% during the second quarter. Bank of Montreal Can now owns 6,628 shares of the company’s stock worth $289,000 after purchasing an additional 57 shares in the last quarter. Louisiana State Employees Retirement System increased its stake in shares of Scholastic Corporation by 0.9% during the second quarter. Louisiana State Employees Retirement System now owns 11,100 shares of the company’s stock worth $484,000 after purchasing an additional 100 shares in the last quarter. Arizona State Retirement System increased its stake in shares of Scholastic Corporation by 0.7% during the second quarter. Arizona State Retirement System now owns 14,162 shares of the company’s stock worth $617,000 after purchasing an additional 100 shares in the last quarter. US Bancorp DE increased its stake in shares of Scholastic Corporation by 0.7% during the second quarter. US Bancorp DE now owns 19,251 shares of the company’s stock worth $840,000 after purchasing an additional 127 shares in the last quarter. Finally, Municipal Employees Retirement System of Michigan increased its stake in shares of Scholastic Corporation by 1.4% during the first quarter. Municipal Employees Retirement System of Michigan now owns 9,850 shares of the company’s stock worth $419,000 after purchasing an additional 140 shares in the last quarter. 79.21% of the stock is owned by institutional investors and hedge funds.

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Shares of Scholastic Corporation (NASDAQ SCHL) opened at 37.10 on Wednesday. The company’s 50-day moving average is $38.17 and its 200 day moving average is $41.44. Scholastic Corporation has a 52 week low of $33.51 and a 52 week high of $49.38. The stock has a market cap of $1.30 billion, a PE ratio of 47.02 and a beta of 0.73.

Scholastic Corporation (NASDAQ:SCHL) last announced its earnings results on Thursday, September 21st. The company reported ($1.67) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.34) by ($0.33). The business had revenue of $189.20 million for the quarter, compared to analyst estimates of $208.00 million. Scholastic Corporation had a return on equity of 3.57% and a net margin of 1.71%. The business’s revenue was down 33.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($1.15) EPS. Analysts forecast that Scholastic Corporation will post $1.12 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Tuesday, October 31st will be given a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 1.62%. The ex-dividend date is Monday, October 30th. Scholastic Corporation’s payout ratio is currently 77.92%.

A number of analysts have recently commented on SCHL shares. BidaskClub cut shares of Scholastic Corporation from a “sell” rating to a “strong sell” rating in a research note on Monday, July 31st. Stifel Nicolaus reaffirmed a “hold” rating on shares of Scholastic Corporation in a research note on Thursday, September 21st. Finally, Zacks Investment Research raised shares of Scholastic Corporation from a “strong sell” rating to a “hold” rating in a research note on Tuesday, September 26th.

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.

Institutional Ownership by Quarter for Scholastic Corporation (NASDAQ:SCHL)

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