Los Angeles Capital Management & Equity Research Inc. lessened its holdings in Scholastic Corporation (NASDAQ:SCHL) by 28.5% during the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 42,552 shares of the company’s stock after selling 17,000 shares during the quarter. Los Angeles Capital Management & Equity Research Inc. owned about 0.12% of Scholastic worth $1,583,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also made changes to their positions in the company. Federated Investors Inc. PA purchased a new stake in Scholastic in the second quarter worth about $111,000. Public Employees Retirement System of Ohio grew its holdings in shares of Scholastic by 5.3% during the second quarter. Public Employees Retirement System of Ohio now owns 3,818 shares of the company’s stock valued at $166,000 after buying an additional 193 shares during the last quarter. Bessemer Group Inc. grew its holdings in shares of Scholastic by 11.5% during 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 last quarter. Cubist Systematic Strategies LLC purchased a new stake in shares of Scholastic during the second quarter valued at approximately $211,000. Finally, State of Alaska Department of Revenue grew its holdings in shares of Scholastic by 80.0% during the second quarter. State of Alaska Department of Revenue now owns 5,346 shares of the company’s stock valued at $233,000 after buying an additional 2,376 shares during the last quarter. Institutional investors and hedge funds own 79.88% of the company’s stock.
Shares of Scholastic Corporation (NASDAQ SCHL) opened at $39.17 on Friday. Scholastic Corporation has a fifty-two week low of $33.51 and a fifty-two week high of $49.38. The company has a market cap of $1,371.50, a P/E ratio of 30.84 and a beta of 0.76.
Scholastic (NASDAQ:SCHL) last posted its quarterly earnings results on Thursday, September 21st. The company reported ($1.67) EPS for the quarter, missing the Zacks’ consensus estimate of ($1.34) by ($0.33). Scholastic had a net margin of 1.71% and a return on equity of 3.57%. The firm had revenue of $189.20 million for the quarter, compared to analysts’ expectations of $208.00 million. During the same quarter in the previous year, the company earned ($1.15) EPS. The company’s quarterly revenue was down 33.1% compared to the same quarter last year. analysts expect that Scholastic Corporation will post 1.19 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, December 15th. Stockholders of record on Tuesday, October 31st will be 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 is Monday, October 30th. Scholastic’s payout ratio is 77.92%.
A number of equities research analysts have recently commented on the stock. Zacks Investment Research cut shares of Scholastic from a “hold” rating to a “sell” rating in a report on Wednesday, September 20th. Stifel Nicolaus reiterated a “hold” rating and set a $44.00 price target on shares of Scholastic in a report on Wednesday, August 16th. Finally, BidaskClub cut shares of Scholastic from a “sell” rating to a “strong sell” rating in a report on Monday, July 31st.
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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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