Allianz Asset Management GmbH Buys 68,562 Shares of Scholastic Corporation $SCHL

Allianz Asset Management GmbH increased its stake in Scholastic Corporation (NASDAQ:SCHL) by 21.5% in the 3rd quarter, Holdings Channel reports. The fund owned 386,928 shares of the company’s stock after buying an additional 68,562 shares during the quarter. Allianz Asset Management GmbH’s holdings in Scholastic were worth $10,594,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in SCHL. American Century Companies Inc. lifted its stake in Scholastic by 2.8% during the second quarter. American Century Companies Inc. now owns 694,808 shares of the company’s stock worth $14,577,000 after purchasing an additional 19,225 shares during the last quarter. AQR Capital Management LLC raised its holdings in shares of Scholastic by 58.6% during the 2nd quarter. AQR Capital Management LLC now owns 249,683 shares of the company’s stock valued at $5,238,000 after buying an additional 92,247 shares in the last quarter. Acadian Asset Management LLC lifted its position in Scholastic by 286.6% in the 2nd quarter. Acadian Asset Management LLC now owns 184,666 shares of the company’s stock worth $3,873,000 after buying an additional 136,903 shares during the last quarter. Empowered Funds LLC boosted its stake in Scholastic by 2.7% in the second quarter. Empowered Funds LLC now owns 168,628 shares of the company’s stock worth $3,538,000 after buying an additional 4,450 shares in the last quarter. Finally, Ameriprise Financial Inc. boosted its stake in Scholastic by 3.5% in the second quarter. Ameriprise Financial Inc. now owns 161,941 shares of the company’s stock worth $3,398,000 after buying an additional 5,451 shares in the last quarter. Hedge funds and other institutional investors own 82.57% of the company’s stock.

Scholastic Stock Up 0.1%

Shares of Scholastic stock opened at $34.11 on Monday. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.24 and a current ratio of 1.67. Scholastic Corporation has a 52-week low of $15.77 and a 52-week high of $35.79. The company’s 50 day moving average price is $31.49 and its 200-day moving average price is $28.64. The stock has a market capitalization of $867.76 million, a price-to-earnings ratio of -170.55 and a beta of 1.19.

Scholastic (NASDAQ:SCHL) last announced its quarterly earnings results on Thursday, December 18th. The company reported $2.17 earnings per share for the quarter, beating the consensus estimate of $2.07 by $0.10. Scholastic had a negative net margin of 0.21% and a positive return on equity of 2.66%. The business had revenue of $551.10 million during the quarter, compared to analysts’ expectations of $556.72 million. During the same quarter in the prior year, the company posted $1.82 EPS. Equities research analysts forecast that Scholastic Corporation will post 0.84 EPS for the current year.

Scholastic Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 16th. Investors of record on Friday, January 30th will be issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 2.3%. The ex-dividend date is Friday, January 30th. Scholastic’s payout ratio is currently -400.00%.

Wall Street Analysts Forecast Growth

SCHL has been the subject of a number of recent research reports. Weiss Ratings upgraded shares of Scholastic from a “sell (d+)” rating to a “hold (c-)” rating in a report on Friday, January 30th. Zacks Research upgraded shares of Scholastic from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, February 4th. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat, Scholastic currently has an average rating of “Buy” and a consensus price target of $37.00.

Scholastic Company Profile

Scholastic Corporation (NASDAQ: SCHL) is a global company dedicated to children’s publishing, education technology and distribution services. The company’s core business encompasses three primary segments: Children’s Book Publishing and Distribution, Education Technology, and International operations. Through its publishing arm, Scholastic produces and distributes a wide range of children’s books, novels, nonfiction titles and classroom magazines under well-known imprints such as Scholastic Press, Graphix and Chicken House.