Key Points
- Director Kaya Henderson sold 3,250 Scholastic shares for approximately $130,813 at an average price of $40.25, reducing her ownership by 31.36% to 7,113 shares.
- Scholastic exceeded quarterly EPS expectations, reporting $2.19 versus the $2.16 consensus estimate, although revenue of $476.1 million fell short of the $517.1 million forecast.
- The company raised its quarterly dividend to $0.25 per share, representing a 2.4% annualized yield, while analysts maintain a consensus “Reduce” rating and a $42 price target.
Scholastic Corporation (NASDAQ:SCHL - Get Free Report) Director Kaya Henderson sold 3,250 shares of the company's stock in a transaction that occurred on Thursday, August 6th. The stock was sold at an average price of $40.25, for a total value of $130,812.50. Following the completion of the sale, the director owned 7,113 shares of the company's stock, valued at $286,298.25. This trade represents a 31.36% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.
Scholastic Price Performance
Shares of NASDAQ SCHL opened at $41.98 on Friday. Scholastic Corporation has a twelve month low of $22.68 and a twelve month high of $48.07. The company has a current ratio of 1.23, a quick ratio of 0.78 and a debt-to-equity ratio of 0.10. The firm has a 50-day moving average of $43.99 and a two-hundred day moving average of $39.50. The company has a market capitalization of $791.87 million, a price-to-earnings ratio of 17.94, a PEG ratio of 1.92 and a beta of 1.01.
Scholastic (NASDAQ:SCHL - Get Free Report) last announced its quarterly earnings data on Thursday, July 23rd. The company reported $2.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.16 by $0.03. Scholastic had a net margin of 3.58% and a return on equity of 5.29%. The company had revenue of $476.10 million for the quarter, compared to analysts' expectations of $517.06 million. During the same quarter in the previous year, the company posted $0.59 EPS. As a group, analysts expect that Scholastic Corporation will post 1.6 earnings per share for the current fiscal year.
Scholastic Increases Dividend
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Investors of record on Monday, August 31st will be issued a dividend of $0.25 per share. The ex-dividend date is Monday, August 31st. This is a positive change from Scholastic's previous quarterly dividend of $0.20. This represents a $1.00 dividend on an annualized basis and a yield of 2.4%. Scholastic's payout ratio is 42.74%.
Institutional Inflows and Outflows
Several hedge funds and other institutional investors have recently made changes to their positions in the company. Meeder Asset Management Inc. purchased a new position in shares of Scholastic in the second quarter worth approximately $43,000. State of Wyoming purchased a new stake in shares of Scholastic in the 2nd quarter valued at approximately $115,000. Tower Research Capital LLC TRC lifted its position in shares of Scholastic by 458.1% in the 2nd quarter. Tower Research Capital LLC TRC now owns 3,159 shares of the company's stock valued at $66,000 after acquiring an additional 2,593 shares in the last quarter. BNP Paribas Financial Markets boosted its stake in Scholastic by 127.4% in the 3rd quarter. BNP Paribas Financial Markets now owns 5,197 shares of the company's stock worth $142,000 after purchasing an additional 2,912 shares during the period. Finally, Pallas Capital Advisors LLC acquired a new position in Scholastic in the 2nd quarter worth approximately $247,000. 82.57% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
SCHL has been the topic of several research reports. Weiss Ratings cut Scholastic from a "hold (c+)" rating to a "hold (c)" rating in a report on Tuesday, July 28th. B. Riley Financial raised their price objective on Scholastic from $40.00 to $42.00 and gave the stock a "neutral" rating in a research note on Wednesday, July 8th. Zacks Research cut Scholastic from a "hold" rating to a "strong sell" rating in a report on Monday, July 27th. Finally, Wall Street Zen lowered Scholastic from a "buy" rating to a "hold" rating in a research report on Saturday, April 25th. Two analysts have rated the stock with a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Reduce" and a consensus price target of $42.00.
Get Our Latest Research Report on SCHL
About Scholastic
(
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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.
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