New York State Common Retirement Fund trimmed its stake in shares of Scholastic Co. (NASDAQ:SCHL – Get Rating) by 21.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 33,309 shares of the company’s stock after selling 9,354 shares during the period. New York State Common Retirement Fund owned about 0.10% of Scholastic worth $1,314,000 as of its most recent SEC filing.
Several other hedge funds have also modified their holdings of SCHL. Envestnet Asset Management Inc. lifted its holdings in shares of Scholastic by 43.2% during the first quarter. Envestnet Asset Management Inc. now owns 7,639 shares of the company’s stock valued at $308,000 after purchasing an additional 2,306 shares during the last quarter. Raymond James & Associates raised its position in Scholastic by 21.0% during the first quarter. Raymond James & Associates now owns 10,092 shares of the company’s stock valued at $407,000 after buying an additional 1,753 shares during the period. American Century Companies Inc. raised its position in Scholastic by 383.1% during the first quarter. American Century Companies Inc. now owns 41,763 shares of the company’s stock valued at $1,682,000 after buying an additional 33,119 shares during the period. Citigroup Inc. raised its position in Scholastic by 5.7% during the first quarter. Citigroup Inc. now owns 29,521 shares of the company’s stock valued at $1,189,000 after buying an additional 1,593 shares during the period. Finally, Bank of Montreal Can raised its position in Scholastic by 2.6% during the first quarter. Bank of Montreal Can now owns 14,576 shares of the company’s stock valued at $610,000 after buying an additional 363 shares during the period. 81.48% of the stock is owned by hedge funds and other institutional investors.
Scholastic Price Performance
Shares of SCHL stock opened at $38.47 on Friday. Scholastic Co. has a fifty-two week low of $28.22 and a fifty-two week high of $48.28. The stock’s 50-day moving average is $39.45 and its two-hundred day moving average is $39.81. The firm has a market cap of $1.27 billion, a P/E ratio of 22.90 and a beta of 1.10.
Scholastic (NASDAQ:SCHL – Get Rating) last issued its earnings results on Thursday, March 23rd. The company reported ($0.57) earnings per share for the quarter. Scholastic had a return on equity of 6.04% and a net margin of 3.71%. The firm had revenue of $324.90 million during the quarter.
Scholastic Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Thursday, June 15th. Shareholders of record on Friday, April 28th will be given a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 2.08%. The ex-dividend date of this dividend is Thursday, April 27th. Scholastic’s payout ratio is currently 47.62%.
Analyst Upgrades and Downgrades
Several research analysts recently weighed in on the company. StockNews.com lowered Scholastic from a “buy” rating to a “hold” rating in a research report on Friday, March 24th. TheStreet lowered Scholastic from a “b” rating to a “c+” rating in a research report on Thursday, March 23rd.
Scholastic Company Profile
Scholastic Corp. engages in the publication and distribution of children’s books, magazines, and teaching materials. It operates through the following segments: Children’s Book Publishing and Distribution, Education, and International. The Children’s Book Publishing and Distribution segment includes the publication and distribution of children’s books, e-books, media, and interactive products.
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