Scholastic Corp (NASDAQ:SCHL) EVP Andrews S. Hedden sold 30,500 shares of Scholastic stock in a transaction on Tuesday, April 10th. The shares were sold at an average price of $39.03, for a total value of $1,190,415.00. Following the completion of the sale, the executive vice president now owns 61,118 shares in the company, valued at approximately $2,385,435.54. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.
Shares of NASDAQ SCHL traded up $0.18 during trading on Thursday, reaching $39.92. The stock had a trading volume of 178,339 shares, compared to its average volume of 133,811. Scholastic Corp has a fifty-two week low of $33.51 and a fifty-two week high of $46.59. The stock has a market capitalization of $1,377.90, a PE ratio of 21.81 and a beta of 0.76.
Scholastic (NASDAQ:SCHL) last issued its quarterly earnings data on Wednesday, March 21st. The company reported ($0.30) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.35) by $0.05. Scholastic had a positive return on equity of 3.58% and a negative net margin of 1.00%. The business had revenue of $344.70 million during the quarter, compared to analysts’ expectations of $350.10 million. During the same period in the previous year, the firm posted ($0.36) earnings per share. The company’s revenue was up 2.5% on a year-over-year basis. analysts expect that Scholastic Corp will post 1.45 EPS for the current year.
Scholastic announced that its Board of Directors has authorized a share buyback plan on Wednesday, March 21st that permits the company to repurchase $50.00 million in shares. This repurchase authorization permits the company to purchase shares of its stock through open market purchases. Shares repurchase plans are usually a sign that the company’s management believes its stock is undervalued.
The company also recently disclosed 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 is Friday, April 27th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.50%. Scholastic’s payout ratio is presently 32.79%.
Several hedge funds and other institutional investors have recently modified their holdings of the company. BlackRock Inc. grew its stake in shares of Scholastic by 2.3% in the fourth quarter. BlackRock Inc. now owns 3,585,366 shares of the company’s stock valued at $143,809,000 after buying an additional 80,853 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in Scholastic by 0.7% during the 3rd quarter. Dimensional Fund Advisors LP now owns 2,806,160 shares of the company’s stock worth $104,389,000 after purchasing an additional 19,627 shares in the last quarter. Alliancebernstein L.P. grew its stake in Scholastic by 1.9% during the 4th quarter. Alliancebernstein L.P. now owns 1,983,802 shares of the company’s stock worth $79,570,000 after purchasing an additional 37,031 shares in the last quarter. Zuckerman Investment Group LLC grew its stake in Scholastic by 2.8% during the 4th quarter. Zuckerman Investment Group LLC now owns 649,309 shares of the company’s stock worth $26,044,000 after purchasing an additional 17,396 shares in the last quarter. Finally, Neuberger Berman Group LLC grew its stake in 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 in the last quarter. 83.86% of the stock is owned by institutional investors and hedge funds.
A number of research firms have commented on SCHL. Zacks Investment Research upgraded Scholastic from a “hold” rating to a “buy” rating and set a $41.00 target price on the stock in a research report on Tuesday, March 27th. Gabelli reaffirmed a “buy” rating on shares of Scholastic in a research note on Friday, March 23rd. BidaskClub raised Scholastic from a “strong sell” rating to a “sell” rating in a research note on Monday, February 5th. TheStreet raised Scholastic from a “c” rating to a “b-” rating in a research note on Thursday, December 14th. Finally, Stifel Nicolaus lifted their price objective on Scholastic from $38.00 to $41.00 and gave the company a “hold” rating in a research note on Wednesday, December 13th. Three analysts have rated the stock with a hold rating and one has given a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $41.00.
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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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