First Trust Advisors LP lessened its stake in Scholastic Corporation (NASDAQ:SCHL) by 15.9% during the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 36,425 shares of the company’s stock after selling 6,908 shares during the quarter. First Trust Advisors LP owned approximately 0.10% of Scholastic Corporation worth $1,588,000 as of its most recent filing with the SEC.
Several other institutional investors also recently modified their holdings of SCHL. Teachers Advisors LLC raised its stake in shares of Scholastic Corporation by 2.7% in the 4th quarter. Teachers Advisors LLC now owns 44,161 shares of the company’s stock valued at $2,097,000 after purchasing an additional 1,144 shares in the last quarter. Bank of Montreal Can raised its stake in shares of Scholastic Corporation by 3.2% in the 1st quarter. Bank of Montreal Can now owns 6,571 shares of the company’s stock valued at $279,000 after purchasing an additional 201 shares in the last quarter. Louisiana State Employees Retirement System raised its stake in shares of Scholastic Corporation by 1.9% in the 1st quarter. Louisiana State Employees Retirement System now owns 11,000 shares of the company’s stock valued at $468,000 after purchasing an additional 200 shares in the last quarter. Nationwide Fund Advisors raised its stake in shares of Scholastic Corporation by 133.9% in the 1st quarter. Nationwide Fund Advisors now owns 46,754 shares of the company’s stock valued at $1,990,000 after purchasing an additional 26,764 shares in the last quarter. Finally, Russell Investments Group Ltd. raised its stake in shares of Scholastic Corporation by 76.6% in the 1st quarter. Russell Investments Group Ltd. now owns 130,610 shares of the company’s stock valued at $5,560,000 after purchasing an additional 56,648 shares in the last quarter. Institutional investors and hedge funds own 78.99% of the company’s stock.
Shares of Scholastic Corporation (NASDAQ:SCHL) opened at 39.23 on Friday. The company has a market cap of $1.38 billion, a P/E ratio of 26.61 and a beta of 0.75. Scholastic Corporation has a 12 month low of $35.20 and a 12 month high of $49.38. The company’s 50 day moving average is $39.54 and its 200-day moving average is $42.42.
Scholastic Corporation (NASDAQ:SCHL) last issued its quarterly earnings results on Thursday, July 20th. The company reported $1.31 earnings per share for the quarter, beating analysts’ consensus estimates of $1.09 by $0.22. Scholastic Corporation had a net margin of 3.00% and a return on equity of 5.10%. The firm had revenue of $499.60 million during the quarter, compared to the consensus estimate of $508.00 million. During the same period in the prior year, the firm earned $1.22 EPS. The business’s revenue was down 2.8% on a year-over-year basis. Analysts expect that Scholastic Corporation will post $1.21 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 15th. Stockholders of record on Thursday, August 31st were issued a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.53%. The ex-dividend date of this dividend was Tuesday, August 29th. Scholastic Corporation’s payout ratio is 41.96%.
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A number of equities research analysts have recently issued reports on SCHL shares. BidaskClub lowered shares of Scholastic Corporation from a “sell” rating to a “strong sell” rating in a research note on Monday, July 31st. Stifel Nicolaus restated a “hold” rating and issued a $44.00 target price on shares of Scholastic Corporation in a research note on Wednesday, August 16th. Finally, Zacks Investment Research lowered shares of Scholastic Corporation from a “hold” rating to a “sell” rating in a research note on Thursday, May 25th.
Scholastic Corporation Company Profile
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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