American International Group Inc. cut its position in shares of Scholastic Corporation (NASDAQ:SCHL) by 15.9% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 16,651 shares of the company’s stock after selling 3,155 shares during the period. American International Group Inc.’s holdings in Scholastic Corporation were worth $709,000 as of its most recent filing with the SEC.
Several other large investors have also modified their holdings of SCHL. Sei Investments Co. increased its stake in shares of Scholastic Corporation by 69.6% in the first quarter. Sei Investments Co. now owns 2,454 shares of the company’s stock worth $105,000 after buying an additional 1,007 shares in the last quarter. Quantbot Technologies LP acquired a new stake in shares of Scholastic Corporation during the first quarter worth $110,000. State of Alaska Department of Revenue increased its stake in shares of 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 worth $126,000 after buying an additional 70 shares in the last quarter. 1st Global Advisors Inc. increased its stake in shares of Scholastic Corporation by 1.5% in the first quarter. 1st Global Advisors Inc. now owns 5,419 shares of the company’s stock worth $231,000 after buying an additional 80 shares in the last quarter. Finally, Mason Street Advisors LLC increased its stake in shares of Scholastic Corporation by 6.9% in the first quarter. Mason Street Advisors LLC now owns 6,295 shares of the company’s stock worth $268,000 after buying an additional 407 shares in the last quarter. 79.09% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Scholastic Corporation (NASDAQ SCHL) opened at 42.15 on Monday. The company’s 50 day moving average price is $43.76 and its 200 day moving average price is $44.23. Scholastic Corporation has a 12-month low of $35.20 and a 12-month high of $49.38. The firm has a market cap of $1.47 billion, a P/E ratio of 28.60 and a beta of 0.75.
Scholastic Corporation (NASDAQ:SCHL) last released its earnings results on Thursday, July 20th. The company reported $1.31 EPS for the quarter, beating the Zacks’ consensus estimate of $1.09 by $0.22. The business had revenue of $499.60 million for the quarter, compared to analysts’ expectations of $508 million. Scholastic Corporation had a return on equity of 5.16% and a net margin of 3.00%. The firm’s revenue was down 2.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.22 earnings per share. Equities research analysts forecast that Scholastic Corporation will post $1.42 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, September 15th. Investors of record on Thursday, August 31st will be paid a $0.15 dividend. The ex-dividend date is Tuesday, August 29th. This represents a $0.60 dividend on an annualized basis and a yield of 1.42%. Scholastic Corporation’s dividend payout ratio is presently 41.96%.
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A number of brokerages have weighed in on SCHL. 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 report on Friday. BidaskClub downgraded Scholastic Corporation from a “hold” rating to a “sell” rating in a report on Saturday, July 8th. Finally, Stifel Nicolaus reduced their target price on Scholastic Corporation from $45.00 to $44.00 and set a “hold” rating on the stock in a report on Tuesday, March 28th.
In related news, EVP Judith Newman sold 5,000 shares of the stock in a transaction on Monday, June 12th. The stock was sold at an average price of $45.04, for a total value of $225,200.00. Following the transaction, the executive vice president now owns 18,894 shares of the company’s stock, valued at $850,985.76. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Richard Robinson sold 98,681 shares of the stock in a transaction on Tuesday, April 25th. The shares were sold at an average price of $43.56, for a total value of $4,298,544.36. Following the completion of the transaction, the chief executive officer now directly owns 4,363,261 shares in the company, valued at approximately $190,063,649.16. The disclosure for this sale can be found here. In the last three months, insiders sold 225,884 shares of company stock worth $9,792,144. 24.16% of the stock is 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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