Rhumbline Advisers Buys 15,644 Shares of Scholastic Corporation $SCHL

Rhumbline Advisers raised its stake in Scholastic Corporation (NASDAQ:SCHL) by 23.0% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 83,750 shares of the company’s stock after purchasing an additional 15,644 shares during the quarter. Rhumbline Advisers’ holdings in Scholastic were worth $2,293,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the stock. Acadian Asset Management LLC raised its stake in shares of Scholastic by 286.6% during the 2nd quarter. Acadian Asset Management LLC now owns 184,666 shares of the company’s stock worth $3,873,000 after purchasing an additional 136,903 shares in the last quarter. AQR Capital Management LLC grew its stake in shares of Scholastic by 160.5% in the first quarter. AQR Capital Management LLC now owns 157,436 shares of the company’s stock valued at $2,972,000 after buying an additional 96,998 shares in the last quarter. Allianz Asset Management GmbH increased its holdings in Scholastic by 21.5% during the third quarter. Allianz Asset Management GmbH now owns 386,928 shares of the company’s stock worth $10,594,000 after buying an additional 68,562 shares during the last quarter. Jane Street Group LLC raised its position in Scholastic by 457.8% during the first quarter. Jane Street Group LLC now owns 81,390 shares of the company’s stock worth $1,537,000 after acquiring an additional 66,798 shares in the last quarter. Finally, Brandes Investment Partners LP lifted its stake in Scholastic by 124.0% in the second quarter. Brandes Investment Partners LP now owns 97,149 shares of the company’s stock valued at $2,038,000 after acquiring an additional 53,784 shares during the last quarter. Institutional investors and hedge funds own 82.57% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently weighed in on SCHL shares. Zacks Research upgraded shares of Scholastic from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, February 4th. Weiss Ratings upgraded Scholastic from a “sell (d+)” rating to a “hold (c-)” rating in a report on Friday, January 30th. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Buy” and a consensus price target of $37.00.

Scholastic Price Performance

NASDAQ:SCHL opened at $34.77 on Friday. The company has a market cap of $884.55 million, a P/E ratio of -173.85 and a beta of 1.19. The firm’s fifty day moving average price is $32.98 and its two-hundred day moving average price is $29.50. Scholastic Corporation has a one year low of $15.77 and a one year high of $35.98. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.67 and a quick ratio of 1.24.

Scholastic (NASDAQ:SCHL) last announced its earnings results on Thursday, December 18th. The company reported $2.17 EPS for the quarter, topping the consensus estimate of $2.07 by $0.10. Scholastic had a negative net margin of 0.21% and a positive return on equity of 2.66%. The business had revenue of $551.10 million during the quarter, compared to the consensus estimate of $556.72 million. During the same quarter in the previous year, the firm posted $1.82 EPS. Equities analysts expect that Scholastic Corporation will post 0.84 earnings per share for the current year.

Scholastic Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, March 16th. Stockholders of record on Friday, January 30th will be given a $0.20 dividend. The ex-dividend date of this dividend is Friday, January 30th. This represents a $0.80 annualized dividend and a dividend yield of 2.3%. Scholastic’s dividend payout ratio is presently -400.00%.

Scholastic Profile

Scholastic Corporation (NASDAQ: SCHL) is a global company dedicated to children’s publishing, education technology and distribution services. The company’s core business encompasses three primary segments: Children’s Book Publishing and Distribution, Education Technology, and International operations. Through its publishing arm, Scholastic produces and distributes a wide range of children’s books, novels, nonfiction titles and classroom magazines under well-known imprints such as Scholastic Press, Graphix and Chicken House.