Scholastic Corp (NASDAQ:SCHL) EVP Judith Newman sold 1,000 shares of the company’s stock in a transaction dated Thursday, April 12th. The shares were sold at an average price of $40.10, for a total transaction of $40,100.00. Following the sale, the executive vice president now directly owns 16,269 shares of the company’s stock, valued at approximately $652,386.90. The sale was disclosed in a filing with the SEC, which is available at this link.
Judith Newman also recently made the following trade(s):
- On Tuesday, January 16th, Judith Newman sold 2,500 shares of Scholastic stock. The shares were sold at an average price of $39.36, for a total transaction of $98,400.00.
Scholastic stock opened at $40.76 on Tuesday. Scholastic Corp has a 1-year low of $33.51 and a 1-year high of $46.59. The company has a market capitalization of $1,390.06, a PE ratio of 22.27 and a beta of 0.76.
Scholastic announced that its board has authorized a stock repurchase plan on Wednesday, March 21st that permits the company to repurchase $50.00 million in shares. This repurchase authorization permits the company to reacquire shares of its stock through open market purchases. Shares repurchase plans are generally an indication that the company’s board of directors believes its stock is undervalued.
The company also recently declared a quarterly dividend, which will be paid on Friday, June 15th. Stockholders of record on Monday, April 30th will be paid a $0.15 dividend. The ex-dividend date of this dividend is Friday, April 27th. This represents a $0.60 annualized dividend and a dividend yield of 1.47%. Scholastic’s dividend payout ratio (DPR) is 32.79%.
Several analysts recently issued reports on SCHL shares. BidaskClub cut shares of Scholastic from a “sell” rating to a “strong sell” rating in a research note on Saturday, January 20th. TheStreet cut shares of Scholastic from a “b-” rating to a “c” rating in a research note on Monday, January 22nd. Zacks Investment Research cut shares of Scholastic from a “strong-buy” rating to a “hold” rating in a research note on Thursday, April 5th. Finally, Gabelli reissued a “buy” rating on shares of Scholastic in a research note on Friday, March 23rd. Three equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. Scholastic presently has a consensus rating of “Hold” and an average target price of $41.00.
Several institutional investors have recently bought and sold shares of SCHL. Granite Investment Partners LLC purchased a new stake in shares of Scholastic in the 4th quarter valued at approximately $12,740,000. JPMorgan Chase & Co. boosted its position in shares of Scholastic by 160.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 196,461 shares of the company’s stock worth $7,277,000 after purchasing an additional 120,967 shares during the period. Neuberger Berman Group LLC boosted its position in shares of Scholastic by 28.3% during the 3rd quarter. Neuberger Berman Group LLC now owns 489,971 shares of the company’s stock worth $18,227,000 after purchasing an additional 108,156 shares during the period. Deutsche Bank AG boosted its position in shares of Scholastic by 128.6% during the 4th quarter. Deutsche Bank AG now owns 188,288 shares of the company’s stock worth $7,549,000 after purchasing an additional 105,908 shares during the period. Finally, BlackRock Inc. boosted its position in shares of Scholastic by 2.3% during the 4th quarter. BlackRock Inc. now owns 3,585,366 shares of the company’s stock worth $143,809,000 after purchasing an additional 80,853 shares during the period. 83.86% of the stock is owned by institutional investors and hedge funds.
Scholastic Company Profile
Scholastic Corporation, together with its subsidiaries, publishes and distributes children's books worldwide. It operates through three segments: Children's Book Publishing and Distribution, Education, and International. The Children's Book Publishing and Distribution segment engages in the publication and distribution of children's books, e-books, media, and interactive products through its school book clubs and book fairs, and trade channel.
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