OppenheimerFunds Inc. boosted its position in Scholastic Corp (NASDAQ:SCHL) by 19.0% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 22,499 shares of the company’s stock after acquiring an additional 3,593 shares during the period. OppenheimerFunds Inc.’s holdings in Scholastic were worth $895,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently made changes to their positions in SCHL. BlackRock Inc. boosted its stake in shares of Scholastic by 5.5% during the 4th quarter. BlackRock Inc. now owns 4,181,729 shares of the company’s stock valued at $168,356,000 after purchasing an additional 217,578 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in Scholastic by 0.4% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,811,985 shares of the company’s stock valued at $113,210,000 after acquiring an additional 9,980 shares during the period. Vanguard Group Inc. lifted its position in Scholastic by 3.1% during the 3rd quarter. Vanguard Group Inc. now owns 2,495,369 shares of the company’s stock valued at $116,509,000 after acquiring an additional 74,211 shares during the period. Royce & Associates LP lifted its position in Scholastic by 0.9% during the 1st quarter. Royce & Associates LP now owns 2,076,500 shares of the company’s stock valued at $82,562,000 after acquiring an additional 18,400 shares during the period. Finally, Northern Trust Corp lifted its position in Scholastic by 1.1% during the 4th quarter. Northern Trust Corp now owns 1,198,330 shares of the company’s stock valued at $48,245,000 after acquiring an additional 12,813 shares during the period. 79.53% of the stock is currently owned by institutional investors and hedge funds.
Shares of NASDAQ SCHL opened at $37.22 on Friday. Scholastic Corp has a 1 year low of $36.12 and a 1 year high of $47.94. The stock has a market cap of $1.31 billion, a P/E ratio of 25.15 and a beta of 0.74.
Scholastic (NASDAQ:SCHL) last issued its quarterly earnings results on Thursday, March 21st. The company reported ($0.32) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.27) by ($0.05). Scholastic had a net margin of 2.89% and a return on equity of 4.30%. The business had revenue of $360.10 million for the quarter, compared to analysts’ expectations of $371.10 million. During the same period last year, the business earned $1.60 earnings per share. The company’s revenue was up 4.5% on a year-over-year basis. As a group, equities analysts anticipate that Scholastic Corp will post 1.62 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Monday, June 17th. Shareholders of record on Tuesday, April 30th will be issued a $0.15 dividend. The ex-dividend date is Monday, April 29th. This represents a $0.60 annualized dividend and a yield of 1.61%. Scholastic’s dividend payout ratio (DPR) is presently 41.96%.
A number of research analysts recently issued reports on the stock. BidaskClub cut shares of Scholastic from a “sell” rating to a “strong sell” rating in a research report on Wednesday. Zacks Investment Research cut shares of Scholastic from a “buy” rating to a “hold” rating in a research report on Thursday, April 4th. Finally, ValuEngine cut shares of Scholastic from a “buy” rating to a “hold” rating in a research report on Tuesday, March 19th. Two analysts have rated the stock with a sell rating and three have given a hold rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $44.50.
In other Scholastic news, CEO Richard Robinson sold 1,000 shares of Scholastic stock in a transaction dated Tuesday, April 16th. The shares were sold at an average price of $40.69, for a total value of $40,690.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 21.79% of the stock is currently owned by insiders.
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Scholastic Corporation publishes and distributes children's books worldwide. It operates in three segments: Children's Book Publishing and Distribution, Education, and International. The Children's Book Publishing and Distribution segment publishes and distributes children's books, e-books, media, and interactive products through its school book club and school book fair channels, as well as through its trade channel.
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