Salzhauer Michael Invests $524,000 in Scholastic Corporation $SCHL

Salzhauer Michael bought a new position in Scholastic Corporation (NASDAQ:SCHL) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 17,700 shares of the company’s stock, valued at approximately $524,000.

Other institutional investors have also recently made changes to their positions in the company. Allianz Asset Management GmbH boosted its stake in shares of Scholastic by 21.5% in the third quarter. Allianz Asset Management GmbH now owns 386,928 shares of the company’s stock worth $10,594,000 after acquiring an additional 68,562 shares during the last quarter. EVR Research LP raised its stake in Scholastic by 58.7% in the 3rd quarter. EVR Research LP now owns 190,000 shares of the company’s stock valued at $5,202,000 after purchasing an additional 70,270 shares during the last quarter. American Century Companies Inc. raised its stake in Scholastic by 6.4% in the 3rd quarter. American Century Companies Inc. now owns 739,366 shares of the company’s stock valued at $20,244,000 after purchasing an additional 44,558 shares during the last quarter. JGP Global Gestao de Recursos Ltda. acquired a new position in Scholastic in the 4th quarter valued at $1,044,000. Finally, Campbell & CO Investment Adviser LLC acquired a new position in Scholastic in the 3rd quarter valued at $396,000. Institutional investors own 82.57% of the company’s stock.

Scholastic Stock Performance

Shares of Scholastic stock opened at $40.36 on Friday. Scholastic Corporation has a one year low of $16.78 and a one year high of $43.39. The company has a market cap of $877.43 million, a price-to-earnings ratio of 16.27 and a beta of 1.08. The business’s 50 day moving average price is $37.29 and its 200 day moving average price is $32.94.

Scholastic (NASDAQ:SCHL) last announced its quarterly earnings data on Thursday, March 19th. The company reported ($0.15) EPS for the quarter, topping analysts’ consensus estimates of ($0.37) by $0.22. Scholastic had a return on equity of 2.47% and a net margin of 3.88%.The firm had revenue of $329.10 million for the quarter, compared to the consensus estimate of $331.53 million. On average, analysts predict that Scholastic Corporation will post 1.82 EPS for the current fiscal year.

Scholastic announced that its board has approved a share buyback plan on Friday, March 20th that allows the company to repurchase $200.00 million in outstanding shares. This repurchase authorization allows the company to buy up to 23% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s leadership believes its shares are undervalued.

Scholastic Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 15th. Shareholders of record on Thursday, April 30th will be paid a dividend of $0.20 per share. The ex-dividend date of this dividend is Thursday, April 30th. This represents a $0.80 dividend on an annualized basis and a yield of 2.0%. Scholastic’s payout ratio is 32.26%.

Analyst Ratings Changes

Several research analysts recently commented on SCHL shares. Weiss Ratings raised Scholastic from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Friday, January 30th. Wall Street Zen downgraded shares of Scholastic from a “buy” rating to a “hold” rating in a research note on Saturday, April 25th. B. Riley Financial raised their price target on shares of Scholastic from $37.00 to $40.00 and gave the stock a “neutral” rating in a research note on Friday, March 20th. Finally, Zacks Research raised shares of Scholastic from a “hold” rating to a “strong-buy” rating in a research note on Friday, April 3rd. One equities research analyst has rated the stock with a Strong Buy rating and two have given a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $40.00.

Scholastic Profile

Scholastic Corporation (NASDAQ: SCHL) is a global company dedicated to children’s publishing, education technology and distribution services. The company’s core business encompasses three primary segments: Children’s Book Publishing and Distribution, Education Technology, and International operations. Through its publishing arm, Scholastic produces and distributes a wide range of children’s books, novels, nonfiction titles and classroom magazines under well-known imprints such as Scholastic Press, Graphix and Chicken House.