Scholastic Corp. (NASDAQ:SCHL) announced a quarterly dividend on Wednesday, September 21st. Stockholders of record on Monday, October 31st will be given a dividend of 0.15 per share on Thursday, December 15th. This represents a $0.60 annualized dividend and a dividend yield of 1.56%.
SCHL has been the topic of several recent analyst reports. TheStreet upgraded shares of Scholastic Corp. from a “hold” rating to a “buy” rating in a research report on Thursday, July 21st. Zacks Investment Research upgraded shares of Scholastic Corp. from a “hold” rating to a “buy” rating and set a $44.00 price target on the stock in a research report on Wednesday, June 8th.
Shares of Scholastic Corp. (NASDAQ:SCHL) opened at 38.365 on Thursday. The company has a 50-day moving average of $40.10 and a 200 day moving average of $38.56. The company has a market cap of $1.32 billion, a PE ratio of 33.073 and a beta of 0.59. Scholastic Corp. has a 12 month low of $30.34 and a 12 month high of $44.24.
Scholastic Corp. (NASDAQ:SCHL) last posted its earnings results on Thursday, July 21st. The company reported $1.22 earnings per share for the quarter, topping the consensus estimate of $0.95 by $0.27. The firm earned $513.80 million during the quarter, compared to analysts’ expectations of $501.60 million. Scholastic Corp. had a return on equity of 4.85% and a net margin of 2.42%. The firm’s revenue was up 5.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.93 earnings per share. On average, analysts anticipate that Scholastic Corp. will post $1.66 earnings per share for the current year.
In related news, CFO Maureen Oconnell sold 56,526 shares of the business’s stock in a transaction that occurred on Monday, July 11th. The stock was sold at an average price of $40.00, for a total transaction of $2,261,040.00. Following the completion of the sale, the chief financial officer now owns 51,818 shares in the company, valued at $2,072,720. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Richard Robinson sold 18,158 shares of the business’s stock in a transaction that occurred on Monday, August 22nd. The stock was sold at an average price of $40.68, for a total value of $738,667.44. Following the sale, the chief executive officer now owns 4,390,978 shares of the company’s stock, valued at approximately $178,624,985.04. The disclosure for this sale can be found here. Corporate insiders own 24.16% of the company’s stock.
Large investors have recently bought and sold shares of the company. Arizona State Retirement System boosted its stake in Scholastic Corp. by 1.5% in the second quarter. Arizona State Retirement System now owns 13,862 shares of the company’s stock valued at $549,000 after buying an additional 200 shares during the last quarter. Guggenheim Capital LLC raised its position in Scholastic Corp. by 4.1% in the second quarter. Guggenheim Capital LLC now owns 17,717 shares of the company’s stock valued at $702,000 after buying an additional 690 shares during the period. Citadel Advisors LLC purchased a new position in Scholastic Corp. during the second quarter valued at approximately $236,000. State Street Corp raised its position in Scholastic Corp. by 3.8% in the second quarter. State Street Corp now owns 555,155 shares of the company’s stock valued at $21,991,000 after buying an additional 20,202 shares during the period. Finally, Hsbc Holdings PLC raised its position in Scholastic Corp. by 0.8% in the second quarter. Hsbc Holdings PLC now owns 8,502 shares of the company’s stock valued at $337,000 after buying an additional 71 shares during the period. Hedge funds and other institutional investors own 82.58% of the company’s stock.
About Scholastic Corp.
Scholastic Corporation is a publisher and distributor of children’s books. The Company has three segments: Children’s Book Publishing and Distribution, Education and International. The Company’s Children’s Book Publishing and Distribution segment includes the publication and distribution of children’s books, e-books, media and interactive products in the United States through its book clubs and book fairs in its school channels and through the trade channel.
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