Scholastic (NASDAQ:SCHL) Lifted to “Buy” at StockNews.com

StockNews.com upgraded shares of Scholastic (NASDAQ:SCHL) from a hold rating to a buy rating in a report issued on Friday morning.

Scholastic Stock Performance

Shares of NASDAQ:SCHL opened at $32.04 on Friday. The company has a 50-day simple moving average of $30.89 and a 200 day simple moving average of $34.18. The company has a market capitalization of $904.81 million, a P/E ratio of 22.10 and a beta of 1.03. Scholastic has a 52-week low of $28.47 and a 52-week high of $41.79.

Scholastic (NASDAQ:SCHL) last issued its earnings results on Thursday, September 26th. The company reported ($2.13) EPS for the quarter, topping the consensus estimate of ($2.48) by $0.35. Scholastic had a return on equity of 3.34% and a net margin of 0.76%. The company had revenue of $237.20 million during the quarter, compared to the consensus estimate of $233.49 million. During the same period in the previous year, the company posted ($2.20) EPS. As a group, equities analysts forecast that Scholastic will post 1.52 earnings per share for the current year.

Scholastic Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Thursday, October 31st will be given a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 2.50%. The ex-dividend date is Thursday, October 31st. Scholastic’s payout ratio is 55.17%.

Insider Transactions at Scholastic

In other Scholastic news, CEO Warwick Peter acquired 1,674 shares of the business’s stock in a transaction on Tuesday, July 23rd. The stock was purchased at an average price of $30.46 per share, with a total value of $50,990.04. Following the acquisition, the chief executive officer now directly owns 104,349 shares of the company’s stock, valued at approximately $3,178,470.54. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, CEO Warwick Peter purchased 1,674 shares of the company’s stock in a transaction that occurred on Tuesday, July 23rd. The stock was acquired at an average price of $30.46 per share, with a total value of $50,990.04. Following the completion of the purchase, the chief executive officer now directly owns 104,349 shares in the company, valued at $3,178,470.54. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Iole Lucchese acquired 1,654 shares of Scholastic stock in a transaction on Tuesday, July 23rd. The shares were purchased at an average price of $30.49 per share, for a total transaction of $50,430.46. Following the completion of the purchase, the executive vice president now directly owns 74,264 shares of the company’s stock, valued at $2,264,309.36. The disclosure for this purchase can be found here. Insiders own 18.62% of the company’s stock.

Institutional Investors Weigh In On Scholastic

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. BNP Paribas Financial Markets boosted its stake in Scholastic by 19.6% in the fourth quarter. BNP Paribas Financial Markets now owns 20,233 shares of the company’s stock valued at $763,000 after buying an additional 3,315 shares in the last quarter. Allianz Asset Management GmbH lifted its stake in shares of Scholastic by 55.6% in the 4th quarter. Allianz Asset Management GmbH now owns 64,154 shares of the company’s stock valued at $2,419,000 after acquiring an additional 22,933 shares during the last quarter. Bragg Financial Advisors Inc boosted its holdings in shares of Scholastic by 0.7% during the 4th quarter. Bragg Financial Advisors Inc now owns 372,999 shares of the company’s stock valued at $14,062,000 after acquiring an additional 2,468 shares in the last quarter. Allspring Global Investments Holdings LLC grew its position in Scholastic by 13.7% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 5,776 shares of the company’s stock worth $218,000 after acquiring an additional 697 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. increased its holdings in Scholastic by 11.7% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 15,356 shares of the company’s stock worth $579,000 after purchasing an additional 1,612 shares in the last quarter. 82.57% of the stock is currently owned by institutional investors.

Scholastic Company Profile

Scholastic Corporation publishes and distributes children’s books worldwide. It operates in three segments: Children’s Book Publishing and Distribution, Education Solutions, and International. The Children’s Book Publishing and Distribution segment engages in publication and distribution of children’s print, digital, and audio books, as well as media and interactive products through its school reading events and trade channel; and operation of school-based book clubs and book fairs in the United States.