Scholastic Corp. CEO Richard Robinson Sells 52,004 Shares (SCHL)
Scholastic Corp. (NASDAQ:SCHL) CEO Richard Robinson sold 52,004 shares of Scholastic Corp. stock on the open market in a transaction that occurred on Friday, August 22nd. The stock was sold at an average price of $35.28, for a total transaction of $1,834,701.12. Following the completion of the sale, the chief executive officer now directly owns 4,380,377 shares of the company’s stock, valued at approximately $154,539,701. The transaction was disclosed in a legal filing 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.
Shares of Scholastic Corp. (NASDAQ:SCHL) traded down 0.23% on Monday, hitting $35.08. 86,720 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 has a 50-day moving average of $34.91 and a 200-day moving average of $33.74. The company has a market cap of $1.132 billion and a price-to-earnings ratio of 25.80.
Scholastic Corp. (NASDAQ:SCHL) last issued its quarterly 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. Analysts expect 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 1.71%. 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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