Scholastic Corp (SCHL) Shares Sold by California State Teachers Retirement System
California State Teachers Retirement System lessened its stake in Scholastic Corp (NASDAQ:SCHL) by 9.7% in the 3rd quarter, HoldingsChannel reports. The fund owned 45,302 shares of the company’s stock after selling 4,881 shares during the period. California State Teachers Retirement System’s holdings in Scholastic were worth $1,685,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in SCHL. Federated Investors Inc. PA acquired a new position in Scholastic in the second quarter valued at $111,000. Quantbot Technologies LP acquired a new position in Scholastic in the third quarter valued at $141,000. Public Employees Retirement System of Ohio boosted its stake in Scholastic by 5.3% in the second quarter. Public Employees Retirement System of Ohio now owns 3,818 shares of the company’s stock valued at $166,000 after acquiring an additional 193 shares in the last quarter. Cubist Systematic Strategies LLC acquired a new position in Scholastic in the second quarter valued at $211,000. Finally, Bessemer Group Inc. boosted its stake in Scholastic by 33.4% in the third quarter. Bessemer Group Inc. now owns 5,995 shares of the company’s stock valued at $223,000 after acquiring an additional 1,500 shares in the last quarter. Institutional investors own 79.76% of the company’s stock.
In other news, insider Alan J. Boyko sold 13,100 shares of the company’s stock in a transaction dated Wednesday, November 29th. The shares were sold at an average price of $40.79, for a total value of $534,349.00. Following the completion of the sale, the insider now directly owns 44,146 shares of the company’s stock, valued at $1,800,715.34. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Judith Newman sold 2,500 shares of the company’s stock in a transaction dated Tuesday, January 16th. The shares were sold at an average price of $39.36, for a total transaction of $98,400.00. Following the completion of the sale, the executive vice president now directly owns 17,269 shares of the company’s stock, valued at $679,707.84. The disclosure for this sale can be found here. Insiders sold 29,100 shares of company stock valued at $1,194,038 over the last ninety days. Corporate insiders own 22.30% of the company’s stock.
Scholastic (NASDAQ:SCHL) last announced its earnings results on Thursday, December 14th. The company reported $1.92 EPS for the quarter, beating analysts’ consensus estimates of $1.75 by $0.17. Scholastic had a net margin of 1.07% and a return on equity of 3.41%. The business had revenue of $598.30 million during the quarter, compared to analysts’ expectations of $601.40 million. During the same period in the prior year, the company earned $1.92 earnings per share. The business’s revenue was down 4.0% compared to the same quarter last year. analysts predict that Scholastic Corp will post 1.27 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 15th. Stockholders of record on Wednesday, January 31st will be issued a $0.15 dividend. The ex-dividend date is Tuesday, January 30th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.52%. Scholastic’s payout ratio is 130.43%.
SCHL has been the subject of several research analyst reports. BidaskClub downgraded shares of Scholastic from a “sell” rating to a “strong sell” rating in a research note on Saturday. Zacks Investment Research downgraded shares of Scholastic from a “hold” rating to a “sell” rating in a research note on Friday, December 15th. Stifel Nicolaus upped their price objective on shares of Scholastic from $38.00 to $41.00 and gave the company a “hold” rating in a research note on Wednesday, December 13th. Finally, TheStreet upgraded shares of Scholastic from a “c” rating to a “b-” rating in a research note on Thursday, December 14th.
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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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