Insider Selling: Scholastic Corp. CEO Sells 59,000 Shares of Stock (SCHL)
Scholastic Corp. (NASDAQ:SCHL) CEO Richard Robinson unloaded 59,000 shares of the stock in a transaction dated Friday, August 8th. The shares were sold at an average price of $35.96, for a total value of $2,121,640.00. Following the completion of the transaction, the chief executive officer now directly owns 4,380,377 shares in the company, valued at approximately $157,518,357. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.
Shares of Scholastic Corp. (NASDAQ:SCHL) traded up 1.11% during mid-day trading on Monday, hitting $36.37. 125,332 shares of the company’s stock traded hands. Scholastic Corp. has a 52-week low of $27.40 and a 52-week high of $36.87. The stock has a 50-day moving average of $34.40 and a 200-day moving average of $33.58. The company has a market cap of $1.174 billion and a price-to-earnings ratio of 26.39.
Scholastic Corp. (NASDAQ:SCHL) last announced its earnings results on Thursday, July 24th. The company reported $1.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.91 by $0.33. The company had revenue of $549.30 million for the quarter, compared to the consensus estimate of $516.00 million. During the same quarter in the previous year, the company posted $0.76 earnings per share. The company’s revenue for the quarter was up 8.4% on a year-over-year basis. Analysts expect that Scholastic Corp. will post $2.07 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Monday, September 15th. Investors of record on Friday, August 29th will be given a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 1.67%. The ex-dividend date of this dividend is Wednesday, August 27th.
Separately, analysts at Zacks upgraded shares of Scholastic Corp. from a “neutral” rating to an “outperform” rating in a research note on Friday, July 25th. They now have a $37.40 price target on the stock.
Scholastic Corporation (NASDAQ:SCHL) together with its subsidiaries is a global children’s publishing, education and media company.
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