Brandes Investment Partners LP Reduces Stake in Scholastic Co. (NASDAQ:SCHL)

Brandes Investment Partners LP cut its holdings in shares of Scholastic Co. (NASDAQ:SCHL) by 13.3% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 7,997 shares of the company’s stock after selling 1,225 shares during the quarter. Brandes Investment Partners LP’s holdings in Scholastic were worth $284,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Jacobs Levy Equity Management Inc. raised its holdings in shares of Scholastic by 16.4% during the first quarter. Jacobs Levy Equity Management Inc. now owns 306,017 shares of the company’s stock worth $11,540,000 after purchasing an additional 43,199 shares during the last quarter. Acadian Asset Management LLC acquired a new position in shares of Scholastic in the 2nd quarter valued at about $1,295,000. Allianz Asset Management GmbH boosted its stake in shares of Scholastic by 55.6% in the fourth quarter. Allianz Asset Management GmbH now owns 64,154 shares of the company’s stock worth $2,419,000 after buying an additional 22,933 shares during the last quarter. Russell Investments Group Ltd. grew its holdings in Scholastic by 24.7% during the first quarter. Russell Investments Group Ltd. now owns 26,754 shares of the company’s stock worth $1,009,000 after acquiring an additional 5,299 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. raised its position in Scholastic by 11.7% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 15,356 shares of the company’s stock valued at $579,000 after acquiring an additional 1,612 shares in the last quarter. 82.57% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Separately, StockNews.com upgraded Scholastic from a “hold” rating to a “buy” rating in a research report on Friday.

Scholastic Stock Performance

SCHL stock opened at $32.01 on Tuesday. Scholastic Co. has a one year low of $28.47 and a one year high of $41.79. The firm’s fifty day moving average is $30.93 and its 200 day moving average is $34.14. The firm has a market cap of $915.49 million, a PE ratio of 22.08 and a beta of 1.03.

Scholastic (NASDAQ:SCHL) last posted its earnings results on Thursday, September 26th. The company reported ($2.13) EPS for the quarter, beating analysts’ consensus estimates of ($2.48) by $0.35. The firm had revenue of $237.20 million for the quarter, compared to analysts’ expectations of $233.49 million. Scholastic had a return on equity of 3.34% and a net margin of 0.76%. During the same period last year, the firm earned ($2.20) EPS. Research analysts predict that Scholastic Co. will post 1.52 earnings per share for the current fiscal year.

Scholastic Dividend Announcement

The firm 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 dividend of $0.20 per share. The ex-dividend date is Thursday, October 31st. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.50%. Scholastic’s dividend payout ratio (DPR) is 55.17%.

Insider Activity at Scholastic

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

Scholastic 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.