Insider Selling: Scholastic Corp. CEO Sells 34,000 Shares of Stock (SCHL)
Scholastic Corp. (NASDAQ:SCHL) CEO Richard Robinson sold 34,000 shares of the company’s stock on the open market in a transaction that occurred on Monday, August 11th. The stock was sold at an average price of $36.30, for a total transaction of $1,234,200.00. Following the transaction, the chief executive officer now directly owns 4,380,377 shares of the company’s stock, valued at approximately $159,007,685. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.
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 Corp. (NASDAQ:SCHL) traded down 0.11% on Wednesday, hitting $36.10. The stock had a trading volume of 76,702 shares. Scholastic Corp. has a 1-year low of $27.40 and a 1-year high of $36.87. The stock’s 50-day moving average is $34.5 and its 200-day moving average is $33.62. The company has a market cap of $1.165 billion and a price-to-earnings ratio of 26.52.
Scholastic Corp. (NASDAQ:SCHL) last issued its quarterly earnings data on Thursday, July 24th. The company reported $1.24 earnings per share for the quarter, beating the analysts’ 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 last year, the company posted $0.76 earnings per share. Scholastic Corp.’s revenue was up 8.4% compared to the same quarter last year. Analysts expect that Scholastic Corp. will post $2.07 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Monday, September 15th. Shareholders of record on Friday, August 29th will be paid a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 1.66%. The ex-dividend date is Wednesday, August 27th.
Scholastic Corporation (NASDAQ:SCHL) together with its subsidiaries is a global children’s publishing, education and media company.
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