Schwab Charles Investment Management Inc. grew its stake in Scholastic Corp (NASDAQ:SCHL) by 3.1% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 260,720 shares of the company’s stock after acquiring an additional 7,738 shares during the period. Schwab Charles Investment Management Inc. owned about 0.74% of Scholastic worth $9,699,000 as of its most recent filing with the SEC.

Several other institutional investors also recently added to or reduced their stakes in the company. Wells Fargo & Company MN raised its stake in shares of Scholastic by 70.6% in the 3rd quarter. Wells Fargo & Company MN now owns 33,179 shares of the company’s stock valued at $1,234,000 after acquiring an additional 13,729 shares during the period. JPMorgan Chase & Co. raised its stake in shares of Scholastic by 160.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 196,461 shares of the company’s stock valued at $7,277,000 after acquiring an additional 120,967 shares during the period. Teachers Retirement System of The State of Kentucky raised its stake in shares of Scholastic by 19.7% in the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 9,100 shares of the company’s stock valued at $339,000 after acquiring an additional 1,500 shares during the period. Quantbot Technologies LP purchased a new stake in shares of Scholastic in the 3rd quarter valued at approximately $141,000. Finally, Bank of New York Mellon Corp raised its stake in shares of Scholastic by 3.0% in the 3rd quarter. Bank of New York Mellon Corp now owns 871,565 shares of the company’s stock valued at $32,422,000 after acquiring an additional 25,536 shares during the period. 79.36% of the stock is currently owned by institutional investors and hedge funds.

Scholastic Corp (NASDAQ:SCHL) opened at $40.11 on Friday. The firm has a market cap of $1,416.78, a P/E ratio of 89.13 and a beta of 0.78. Scholastic Corp has a twelve month low of $33.51 and a twelve month high of $48.20.

Scholastic (NASDAQ:SCHL) last announced its quarterly earnings data on Thursday, December 14th. The company reported $1.92 earnings per share for the quarter, beating analysts’ consensus estimates of $1.75 by $0.17. The firm had revenue of $598.30 million during the quarter, compared to analysts’ expectations of $601.40 million. Scholastic had a net margin of 1.07% and a return on equity of 3.41%. The business’s quarterly revenue was down 4.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.92 earnings per share. research analysts forecast that Scholastic Corp will post 1.27 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 15th. Investors of record on Wednesday, January 31st will be issued a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.50%. The ex-dividend date of this dividend is Tuesday, January 30th. Scholastic’s dividend payout ratio (DPR) is currently 133.33%.

In other Scholastic news, insider Alan J. Boyko sold 13,100 shares of the business’s stock in a transaction that occurred on Wednesday, November 29th. The shares were sold at an average price of $40.79, for a total transaction of $534,349.00. Following the completion of the transaction, the insider now owns 44,146 shares in the company, valued at approximately $1,800,715.34. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Richard Robinson sold 3,500 shares of the business’s stock in a transaction that occurred on Monday, December 18th. The stock was sold at an average price of $40.33, for a total transaction of $141,155.00. The disclosure for this sale can be found here. Insiders sold 26,600 shares of company stock valued at $1,095,638 in the last 90 days. Company insiders own 22.30% of the company’s stock.

A number of equities research analysts have recently issued reports on SCHL shares. TheStreet raised shares of Scholastic from a “c” rating to a “b-” rating in a research note on Thursday, December 14th. BidaskClub raised shares of Scholastic from a “hold” rating to a “buy” rating in a research note on Wednesday, December 6th. Zacks Investment Research raised shares of Scholastic from a “strong sell” rating to a “hold” rating in a research note on Tuesday, September 26th. Finally, Stifel Nicolaus restated a “hold” rating on shares of Scholastic in a report on Thursday, September 21st.

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About Scholastic

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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Institutional Ownership by Quarter for Scholastic (NASDAQ:SCHL)

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