Scholastic Corp. (SCHL) Declares Quarterly Dividend of $0.15
Scholastic Corp. (NASDAQ:SCHL) declared a quarterly dividend on Wednesday, September 21st. Stockholders of record on Monday, October 31st will be paid a dividend of 0.15 per share on Thursday, December 15th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.55%.
Several brokerages recently issued reports on SCHL. Zacks Investment Research lowered Scholastic Corp. from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, July 26th. TheStreet raised Scholastic Corp. from a “hold” rating to a “buy” rating in a research report on Thursday, July 21st.
In other news, CFO Maureen Oconnell sold 56,526 shares of the company’s stock in a transaction dated Monday, July 11th. The shares were sold at an average price of $40.00, for a total transaction of $2,261,040.00. Following the completion of the transaction, the chief financial officer now directly owns 51,818 shares of the company’s stock, valued at $2,072,720. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Richard Robinson sold 18,158 shares of the company’s stock in a transaction dated Monday, August 22nd. The shares were sold at an average price of $40.68, for a total transaction of $738,667.44. Following the transaction, the chief executive officer now directly owns 4,390,978 shares of the company’s stock, valued at $178,624,985.04. The disclosure for this sale can be found here. 24.16% of the stock is currently owned by company insiders.
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Institutional investors have recently modified their holdings of the stock. Arizona State Retirement System increased its position in shares of Scholastic Corp. by 1.5% in the second quarter. Arizona State Retirement System now owns 13,862 shares of the company’s stock valued at $549,000 after buying an additional 200 shares during the period. Guggenheim Capital LLC increased its position in shares of Scholastic Corp. by 4.1% in the second quarter. Guggenheim Capital LLC now owns 17,717 shares of the company’s stock valued at $702,000 after buying an additional 690 shares during the period. Citadel Advisors LLC purchased a new position in shares of Scholastic Corp. during the second quarter valued at approximately $236,000. State Street Corp increased its position in shares of Scholastic Corp. by 3.8% in the second quarter. State Street Corp now owns 555,155 shares of the company’s stock valued at $21,991,000 after buying an additional 20,202 shares during the period. Finally, Hsbc Holdings PLC increased its position in shares of Scholastic Corp. by 0.8% in the second quarter. Hsbc Holdings PLC now owns 8,502 shares of the company’s stock valued at $337,000 after buying an additional 71 shares during the period. 82.58% of the stock is owned by hedge funds and other institutional investors.
Scholastic Corp. (NASDAQ:SCHL) traded down 0.77% during trading on Wednesday, reaching $38.50. The company’s stock had a trading volume of 56,803 shares. The company has a 50-day moving average of $40.17 and a 200 day moving average of $38.56. The firm has a market cap of $1.32 billion, a PE ratio of 33.19 and a beta of 0.59. Scholastic Corp. has a one year low of $30.34 and a one year high of $44.24.
Scholastic Corp. (NASDAQ:SCHL) last posted its quarterly earnings results on Thursday, July 21st. The company reported $1.22 earnings per share for the quarter, topping the consensus estimate of $0.95 by $0.27. The business earned $513.80 million during the quarter, compared to the consensus estimate of $501.60 million. Scholastic Corp. had a net margin of 2.42% and a return on equity of 4.85%. The firm’s revenue for the quarter was up 5.4% on a year-over-year basis. During the same period in the previous year, the firm posted $0.93 earnings per share. Analysts expect that Scholastic Corp. will post $1.67 EPS for the current fiscal year.
Scholastic Corp. Company Profile
Scholastic Corporation is a publisher and distributor of children’s books. The Company has three segments: Children’s Book Publishing and Distribution, Education and International. The Company’s Children’s Book Publishing and Distribution segment includes the publication and distribution of children’s books, e-books, media and interactive products in the United States through its book clubs and book fairs in its school channels and through the trade channel.
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