Insider Selling: Richard Robinson Sells 51,618 Shares of Scholastic Corp. Stock (SCHL)
Scholastic Corp. (NASDAQ:SCHL) CEO Richard Robinson sold 51,618 shares of the company’s stock on the open market in a transaction that occurred on Monday, August 18th. The stock was sold at an average price of $35.84, for a total transaction of $1,849,989.12. Following the sale, the chief executive officer now directly owns 4,380,377 shares of the company’s stock, valued at approximately $156,992,712. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.
Scholastic Corp. (NASDAQ:SCHL) traded down 0.22% during mid-day trading on Tuesday, hitting $35.81. 97,596 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’s 50-day moving average is $34.80 and its 200-day moving average is $33.68. The company has a market cap of $1.156 billion and a P/E ratio of 26.33.
Scholastic Corp. (NASDAQ:SCHL) last announced its earnings results 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 quarterly revenue 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 announced a quarterly dividend, which is scheduled for Monday, September 15th. Investors 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 1.67%. 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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