Teachers Retirement System of The State of Kentucky maintained its stake in shares of Scholastic Corporation (NASDAQ:SCHL) during the first quarter, Holdings Channel reports. The fund owned 7,600 shares of the company’s stock at the end of the first quarter. Teachers Retirement System of The State of Kentucky’s holdings in Scholastic Corporation were worth $324,000 at the end of the most recent reporting period.
A number of other large investors have also made changes to their positions in the company. Goldman Sachs Group Inc. raised its stake in shares of Scholastic Corporation by 39.6% in the first quarter. Goldman Sachs Group Inc. now owns 60,789 shares of the company’s stock worth $2,588,000 after buying an additional 17,231 shares during the last quarter. Tudor Investment Corp ET AL raised its stake in shares of Scholastic Corporation by 62.1% in the first quarter. Tudor Investment Corp ET AL now owns 20,578 shares of the company’s stock worth $876,000 after buying an additional 7,883 shares during the last quarter. AQR Capital Management LLC raised its stake in shares of Scholastic Corporation by 392.6% in the first quarter. AQR Capital Management LLC now owns 30,094 shares of the company’s stock worth $1,281,000 after buying an additional 23,985 shares during the last quarter. Gotham Asset Management LLC acquired a new stake in shares of Scholastic Corporation during the first quarter worth approximately $2,261,000. Finally, State Street Corp raised its stake in shares of Scholastic Corporation by 3.3% in the first quarter. State Street Corp now owns 676,451 shares of the company’s stock worth $28,798,000 after buying an additional 21,560 shares during the last quarter. Hedge funds and other institutional investors own 79.05% of the company’s stock.
Shares of Scholastic Corporation (NASDAQ SCHL) traded down 0.32% during midday trading on Tuesday, reaching $40.23. The company’s stock had a trading volume of 46,552 shares. The stock has a 50-day moving average of $43.38 and a 200 day moving average of $43.91. Scholastic Corporation has a 12 month low of $35.20 and a 12 month high of $49.38. The company has a market cap of $1.41 billion, a price-to-earnings ratio of 27.29 and a beta of 0.74.
Scholastic Corporation (NASDAQ:SCHL) last posted its quarterly earnings data on Thursday, July 20th. The company reported $1.31 earnings per share for the quarter, topping the consensus estimate of $1.09 by $0.22. The company had revenue of $499.60 million during the quarter, compared to analysts’ expectations of $508 million. Scholastic Corporation had a return on equity of 5.10% and a net margin of 3.00%. Scholastic Corporation’s revenue for the quarter was down 2.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.22 earnings per share. On average, analysts predict that Scholastic Corporation will post $1.21 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 15th. Stockholders of record on Thursday, August 31st will be given a dividend of $0.15 per share. The ex-dividend date is Tuesday, August 29th. This represents a $0.60 annualized dividend and a dividend yield of 1.49%. Scholastic Corporation’s dividend payout ratio is currently 41.96%.
A number of equities research analysts have commented on the company. BidaskClub lowered Scholastic Corporation from a “sell” rating to a “strong sell” rating in a research report on Monday, July 31st. Zacks Investment Research lowered Scholastic Corporation from a “buy” rating to a “hold” rating in a research report on Wednesday, July 26th.
In other news, EVP Judith Newman sold 5,000 shares of the company’s stock in a transaction dated Monday, June 12th. The stock was sold at an average price of $45.04, for a total transaction of $225,200.00. Following the completion of the transaction, the executive vice president now directly owns 18,894 shares of the company’s stock, valued at $850,985.76. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Richard Robinson sold 67,993 shares of the company’s stock in a transaction dated Friday, June 2nd. The stock was sold at an average price of $43.08, for a total value of $2,929,138.44. Following the transaction, the chief executive officer now directly owns 4,350,943 shares of the company’s stock, valued at $187,438,624.44. The disclosure for this sale can be found here. Insiders have sold 73,094 shares of company stock valued at $3,159,010 over the last ninety days. 24.16% of the stock is owned by insiders.
About Scholastic Corporation
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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