Insider Selling: Richard Robinson Sells 20,717 Shares of Scholastic Corp. Stock (SCHL)
Scholastic Corp. (NASDAQ:SCHL) CEO Richard Robinson unloaded 20,717 shares of Scholastic Corp. stock on the open market in a transaction dated Monday, August 25th. The shares were sold at an average price of $35.05, for a total transaction of $726,130.85. 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 $153,532,214. The sale was disclosed in a document filed with the Securities & Exchange Commission, 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 up 0.86% on Tuesday, hitting $35.38. The stock had a trading volume of 134,499 shares. 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 $34.93 and its 200-day moving average is $33.79. The company has a market cap of $1.142 billion and a price-to-earnings ratio of 25.74.
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. Analysts expect that Scholastic Corp. will post $2.07 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Monday, September 15th. Stockholders 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 1.71%. The ex-dividend date of this dividend 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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