California Public Employees Retirement System cut its stake in Scholastic Corp (NASDAQ:SCHL) by 1.2% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 122,148 shares of the company’s stock after selling 1,482 shares during the period. California Public Employees Retirement System owned 0.35% of Scholastic worth $4,899,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds also recently added to or reduced their stakes in SCHL. Quantbot Technologies LP acquired a new stake in Scholastic in the 3rd quarter worth approximately $141,000. Public Employees Retirement System of Ohio boosted its stake in Scholastic by 5.3% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 3,818 shares of the company’s stock worth $166,000 after purchasing an additional 193 shares in the last quarter. Bessemer Group Inc. boosted its stake in Scholastic by 33.4% in the 3rd quarter. Bessemer Group Inc. now owns 5,995 shares of the company’s stock worth $223,000 after purchasing an additional 1,500 shares in the last quarter. Crossmark Global Holdings Inc. acquired a new stake in Scholastic in the 3rd quarter worth approximately $314,000. Finally, Sei Investments Co. boosted its stake in Scholastic by 32.0% in the 3rd quarter. Sei Investments Co. now owns 8,661 shares of the company’s stock worth $322,000 after purchasing an additional 2,102 shares in the last quarter. Institutional investors own 83.47% of the company’s stock.
Shares of Scholastic Corp (NASDAQ:SCHL) opened at $37.79 on Tuesday. The company has a market cap of $1,306.51, a P/E ratio of 83.98 and a beta of 0.75. Scholastic Corp has a 12 month low of $33.51 and a 12 month high of $46.59.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 15th. Shareholders of record on Wednesday, January 31st will be paid a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 1.59%. The ex-dividend date of this dividend is Tuesday, January 30th. Scholastic’s payout ratio is 133.33%.
In other Scholastic news, CEO Richard Robinson sold 3,500 shares of Scholastic stock in a transaction that occurred on Monday, December 18th. The shares were sold at an average price of $40.33, for a total transaction of $141,155.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Judith Newman sold 2,500 shares of Scholastic stock in a transaction that occurred on Tuesday, January 16th. The shares were sold at an average price of $39.36, for a total transaction of $98,400.00. Following the sale, the executive vice president now owns 17,269 shares of the company’s stock, valued at $679,707.84. The disclosure for this sale can be found here. Insiders own 22.30% of the company’s stock.
A number of analysts recently commented on the stock. BidaskClub upgraded shares of Scholastic from a “strong sell” rating to a “sell” rating in a research note on Monday, February 5th. TheStreet upgraded shares of Scholastic from a “c” rating to a “b-” rating in a research note on Thursday, December 14th. Stifel Nicolaus lifted their target price on shares of Scholastic from $38.00 to $41.00 and gave the stock a “hold” rating in a research note on Wednesday, December 13th. Finally, Zacks Investment Research cut shares of Scholastic from a “hold” rating to a “sell” rating in a research note on Friday, December 15th.
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Scholastic Company Profile
Scholastic Corporation is a publisher and distributor of children’s books, a provider of print and digital instructional materials for pre-kindergarten (pre-K) to grade 12, and a producer of educational and entertaining children’s media. The Company operates through three segments: Children’s Book Publishing and Distribution, Education and International.
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