Insider Selling: Scholastic Corp. CEO Sells $800,707 in Stock (SCHL)
Scholastic Corp. (NASDAQ:SCHL) CEO Richard Robinson sold 22,279 shares of Scholastic Corp. stock on the open market in a transaction dated Wednesday, August 20th. The stock was sold at an average price of $35.94, for a total transaction of $800,707.26. Following the sale, the chief executive officer now directly owns 4,380,377 shares of the company’s stock, valued at approximately $157,430,749. The transaction was disclosed in a document filed with the SEC, which is available at 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) remained flat at $35.42 during trading on Thursday. The stock had a trading volume of 144,626 shares. Scholastic Corp. has a one year low of $27.40 and a one year high of $36.87. The stock’s 50-day moving average is $34.85 and its 200-day moving average is $33.70. The company has a market cap of $1.143 billion and a price-to-earnings ratio of 25.99.
Scholastic Corp. (NASDAQ:SCHL) last released its earnings data 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. 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. 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 1.69%. 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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