Chartwell Investment Partners LLC decreased its stake in shares of Scholastic Corporation (NASDAQ:SCHL) by 4.1% during the second quarter, according to its most recent 13F filing with the SEC. The fund owned 428,129 shares of the company’s stock after selling 18,425 shares during the period. Chartwell Investment Partners LLC owned about 1.22% of Scholastic Corporation worth $18,662,000 as of its most recent filing with the SEC.
A number of other institutional investors have also added to or reduced their stakes in SCHL. Sei Investments Co. boosted its position in Scholastic Corporation by 69.6% in the first 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 period. Quantbot Technologies LP acquired a new position in Scholastic Corporation during the first quarter valued at $110,000. State of Alaska Department of Revenue boosted its position in Scholastic Corporation by 2.4% in the first 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 period. Bessemer Group Inc. boosted its position in Scholastic Corporation by 11.5% in the second 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 period. Finally, 1st Global Advisors Inc. boosted its position in Scholastic Corporation by 1.5% in the first quarter. 1st Global Advisors Inc. now owns 5,419 shares of the company’s stock valued at $231,000 after buying an additional 80 shares during the period. 79.29% of the stock is currently owned by institutional investors.
Shares of Scholastic Corporation (SCHL) opened at 38.67 on Friday. The company has a 50 day moving average price of $41.69 and a 200 day moving average price of $43.43. Scholastic Corporation has a 52 week low of $35.20 and a 52 week high of $49.38. The company has a market cap of $1.36 billion, a PE ratio of 26.23 and a beta of 0.74.
Scholastic Corporation (NASDAQ:SCHL) last released its quarterly earnings results on Thursday, July 20th. The company reported $1.31 EPS for the quarter, topping the Zacks’ consensus estimate of $1.09 by $0.22. The company had revenue of $499.60 million for the quarter, compared to analyst estimates of $508 million. Scholastic Corporation had a return on equity of 5.10% and a net margin of 3.00%. Scholastic Corporation’s revenue was down 2.8% compared to the same quarter last year. During the same quarter last year, the firm posted $1.22 earnings per share. On average, equities analysts expect that Scholastic Corporation will post $1.21 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 15th. Stockholders of record on Thursday, August 31st will be given a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.55%. The ex-dividend date is Tuesday, August 29th. Scholastic Corporation’s dividend payout ratio is currently 41.96%.
Several equities analysts have weighed in on the company. Zacks Investment Research raised Scholastic Corporation from a “hold” rating to a “buy” rating and set a $50.00 target price on the stock in a research note on Friday, July 21st. BidaskClub cut Scholastic Corporation from a “hold” rating to a “sell” rating in a research note on Tuesday, July 25th. Finally, Stifel Nicolaus reaffirmed a “hold” rating and set a $44.00 target price on shares of Scholastic Corporation in a research note on Wednesday.
In other news, CEO Richard Robinson sold 67,993 shares of the firm’s stock in a transaction dated Friday, June 2nd. The stock was sold at an average price of $43.08, for a total transaction of $2,929,138.44. Following the sale, the chief executive officer now owns 4,350,943 shares of the company’s stock, valued at $187,438,624.44. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP Judith Newman sold 5,000 shares of the firm’s stock in a transaction dated Monday, June 12th. The stock was sold at an average price of $45.04, for a total value of $225,200.00. Following the sale, the executive vice president now directly owns 18,894 shares in the company, valued at approximately $850,985.76. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 73,094 shares of company stock worth $3,159,010. 22.30% of the stock is currently owned by insiders.
About Scholastic Corporation
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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