Round Hill Asset Management Lowers Holdings in Scholastic Corporation (SCHL)
Round Hill Asset Management lessened its stake in Scholastic Corporation (NASDAQ:SCHL) by 0.9% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 15,281 shares of the company’s stock after selling 137 shares during the quarter. Round Hill Asset Management’s holdings in Scholastic Corporation were worth $666,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors and hedge funds also recently bought and sold shares of SCHL. BlackRock Inc. increased its position in Scholastic Corporation by 47,605.6% in the 1st quarter. BlackRock Inc. now owns 3,344,642 shares of the company’s stock valued at $142,381,000 after acquiring an additional 3,337,631 shares in the last quarter. Acadian Asset Management LLC increased its position in Scholastic Corporation by 51.3% in the 2nd quarter. Acadian Asset Management LLC now owns 554,380 shares of the company’s stock valued at $24,164,000 after acquiring an additional 187,938 shares in the last quarter. Alliancebernstein L.P. increased its position in Scholastic Corporation by 5.6% in the 2nd quarter. Alliancebernstein L.P. now owns 2,007,484 shares of the company’s stock valued at $87,506,000 after acquiring an additional 107,349 shares in the last quarter. Barrow Hanley Mewhinney & Strauss LLC acquired a new stake in Scholastic Corporation in the 1st quarter valued at about $4,240,000. Finally, Neuberger Berman Group LLC increased its position in Scholastic Corporation by 28.4% in the 2nd quarter. Neuberger Berman Group LLC now owns 381,815 shares of the company’s stock valued at $16,643,000 after acquiring an additional 84,451 shares in the last quarter. Hedge funds and other institutional investors own 78.99% of the company’s stock.
Scholastic Corporation (NASDAQ:SCHL) traded down 0.20% during midday trading on Friday, reaching $38.97. 101,103 shares of the company’s stock traded hands. The company has a market cap of $1.37 billion, a P/E ratio of 26.44 and a beta of 0.75. The stock has a 50-day moving average of $39.59 and a 200 day moving average of $42.46. Scholastic Corporation has a 52-week low of $35.20 and a 52-week high of $49.38.
Scholastic Corporation (NASDAQ:SCHL) last issued its earnings results on Thursday, July 20th. The company reported $1.31 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.09 by $0.22. The firm had revenue of $499.60 million during the quarter, compared to the consensus estimate of $508.00 million. Scholastic Corporation had a return on equity of 5.10% and a net margin of 3.00%. The business’s quarterly revenue was down 2.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.22 earnings per share. On average, analysts anticipate that Scholastic Corporation will post $1.21 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 15th. Shareholders of record on Thursday, August 31st will be paid a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 1.54%. The ex-dividend date of this dividend is Tuesday, August 29th. Scholastic Corporation’s payout ratio is 41.96%.
SCHL has been the subject of several research reports. Zacks Investment Research upgraded shares of Scholastic Corporation from a “hold” rating to a “buy” rating and set a $50.00 price objective for the company in a research report on Friday, July 21st. Stifel Nicolaus restated a “hold” rating and issued a $44.00 price objective on shares of Scholastic Corporation in a research report on Wednesday, August 16th. Finally, BidaskClub upgraded shares of Scholastic Corporation from a “sell” rating to a “hold” rating in a research report on Saturday, June 10th.
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Scholastic Corporation 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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