Scholastic (NASDAQ:SCHL) Trading 4.9% Higher – Still a Buy?

Scholastic Co. (NASDAQ:SCHL) shares rose 4.9% during mid-day trading on Wednesday . The company traded as high as $27.84 and last traded at $27.84. Approximately 114,998 shares changed hands during mid-day trading, a decline of 45% from the average daily volume of 209,213 shares. The stock had previously closed at $26.55.

Analysts Set New Price Targets

Separately, StockNews.com lowered shares of Scholastic from a “buy” rating to a “hold” rating in a research report on Saturday.

Scholastic Stock Up 4.5 %

The stock has a market capitalization of $780.89 million, a P/E ratio of 19.14 and a beta of 1.03. The firm’s 50-day simple moving average is $30.46 and its 200 day simple moving average is $33.72. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.64 and a current ratio of 1.14.

Scholastic (NASDAQ:SCHL) last announced 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 net margin of 1.49% and a return on equity of 4.32%. The company had revenue of $237.20 million for the quarter, compared to analysts’ expectations of $233.49 million. During the same period last year, the firm earned ($2.20) earnings per share. As a group, research analysts expect that Scholastic Co. will post 1.41 EPS for the current year.

Scholastic Dividend Announcement

The business also recently disclosed 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. This represents a $0.80 annualized dividend and a dividend yield of 2.88%. The ex-dividend date is Thursday, October 31st. Scholastic’s dividend payout ratio (DPR) is 55.17%.

Insider Activity

In other Scholastic news, CEO Warwick Peter acquired 1,674 shares of the business’s stock in a transaction on Tuesday, July 23rd. The shares were acquired at an average price of $30.46 per share, with a total value of $50,990.04. Following the completion of the transaction, the chief executive officer now owns 104,349 shares in the company, valued at approximately $3,178,470.54. This trade represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. In other Scholastic news, CEO Warwick Peter bought 1,674 shares of Scholastic stock in a transaction that occurred on Tuesday, July 23rd. The shares were bought 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 owns 104,349 shares in the company, valued at approximately $3,178,470.54. This trade represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Iole Lucchese purchased 1,654 shares of the company’s stock in a transaction that occurred on Tuesday, July 23rd. The stock was acquired at an average cost of $30.49 per share, with a total value of $50,430.46. Following the purchase, the executive vice president now directly owns 74,264 shares of the company’s stock, valued at $2,264,309.36. This trade represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 18.62% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in SCHL. SG Americas Securities LLC acquired a new stake in shares of Scholastic during the third quarter worth about $413,000. Algert Global LLC raised its holdings in Scholastic by 16.7% in the 2nd quarter. Algert Global LLC now owns 28,263 shares of the company’s stock valued at $1,002,000 after buying an additional 4,040 shares during the period. Mackenzie Financial Corp acquired a new stake in shares of Scholastic in the second quarter valued at $363,000. Millennium Management LLC raised its stake in shares of Scholastic by 45.0% in the second quarter. Millennium Management LLC now owns 182,630 shares of the company’s stock valued at $6,478,000 after acquiring an additional 56,647 shares in the last quarter. Finally, AQR Capital Management LLC raised its holdings in shares of Scholastic by 62.6% in the 2nd quarter. AQR Capital Management LLC now owns 67,417 shares of the company’s stock valued at $2,391,000 after purchasing an additional 25,958 shares in the last quarter. Institutional investors own 82.57% of the company’s stock.

About Scholastic

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.