Insider Selling: Scholastic Corp. CEO Sells $1,204,089 in Stock (SCHL)
Scholastic Corp. (NASDAQ:SCHL) CEO Richard Robinson sold 33,382 shares of the company’s stock on the open market in a transaction that occurred on Thursday, August 14th. The stock was sold at an average price of $36.07, for a total value of $1,204,088.74. Following the transaction, the chief executive officer now directly owns 4,380,377 shares in the company, valued at approximately $158,000,198. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.
Shares of Scholastic Corp. (NASDAQ:SCHL) traded down 1.20% on Friday, hitting $35.54. 114,474 shares of the company’s stock traded hands. 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 $34.71 and its 200-day moving average is $33.65. The company has a market cap of $1.147 billion and a P/E ratio of 26.39.
Scholastic Corp. (NASDAQ:SCHL) last issued its quarterly earnings data on Thursday, July 24th. The company reported $1.24 EPS for the quarter, beating the Thomson Reuters 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 prior 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. On average, analysts predict that Scholastic Corp. will post $2.07 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Monday, September 15th. Shareholders 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 1.69%. The ex-dividend date 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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