Scholastic Corp (NASDAQ:SCHL) EVP Judith Newman sold 2,008 shares of the business’s stock in a transaction that occurred on Thursday, March 30th. The shares were sold at an average price of $42.11, for a total transaction of $84,556.88. Following the transaction, the executive vice president now owns 22,150 shares of the company’s stock, valued at $932,736.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.
Shares of Scholastic Corp (NASDAQ:SCHL) traded up 3.44% during mid-day trading on Thursday, hitting $44.49. 54,790 shares of the company traded hands. The stock has a market capitalization of $1.55 billion, a PE ratio of 33.53 and a beta of 0.98. The firm’s 50 day moving average price is $43.72 and its 200-day moving average price is $43.86. Scholastic Corp has a 1-year low of $35.20 and a 1-year high of $49.38.
Scholastic Corp (NASDAQ:SCHL) last posted its quarterly earnings results on Thursday, March 23rd. The company reported ($0.36) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.25) by $0.11. The company earned $336.20 million during the quarter, compared to analysts’ expectations of $368 million. Scholastic Corp had a return on equity of 5.71% and a net margin of 2.98%. The company’s quarterly revenue was down 8.1% on a year-over-year basis. During the same period in the prior year, the business earned ($0.06) EPS. On average, equities research analysts forecast that Scholastic Corp will post $1.68 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, June 15th. Investors of record on Friday, April 28th will be paid a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 1.40%. The ex-dividend date of this dividend is Wednesday, April 26th. Scholastic Corp’s dividend payout ratio is presently 40.54%.
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A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Louisiana State Employees Retirement System increased its position in Scholastic Corp by 1.9% in the first quarter. Louisiana State Employees Retirement System now owns 11,000 shares of the company’s stock valued at $468,000 after buying an additional 200 shares in the last quarter. Bank of Montreal Can increased its position in Scholastic Corp by 3.2% in the first quarter. Bank of Montreal Can now owns 6,571 shares of the company’s stock valued at $279,000 after buying an additional 201 shares in the last quarter. Teachers Advisors LLC boosted its position in shares of Scholastic Corp by 2.7% in the fourth quarter. Teachers Advisors LLC now owns 44,161 shares of the company’s stock valued at $2,097,000 after buying an additional 1,144 shares during the last quarter. Norges Bank acquired a new position in shares of Scholastic Corp during the fourth quarter valued at about $19,316,000. Finally, Thrivent Financial for Lutherans boosted its position in shares of Scholastic Corp by 6.0% in the fourth quarter. Thrivent Financial for Lutherans now owns 14,460 shares of the company’s stock valued at $687,000 after buying an additional 820 shares during the last quarter. 80.34% of the stock is currently owned by institutional investors.
SCHL has been the subject of several research analyst reports. Zacks Investment Research upgraded shares of Scholastic Corp from a “hold” rating to a “buy” rating and set a $51.00 price target for the company in a report on Thursday, March 23rd. Stifel Nicolaus lowered their price target on shares of Scholastic Corp from $45.00 to $44.00 and set a “hold” rating for the company in a report on Tuesday, March 28th.
Scholastic Corp 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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