Allspring Global Investments Holdings LLC Reduces Position in Scholastic Co. (NASDAQ:SCHL)

Allspring Global Investments Holdings LLC lessened its position in shares of Scholastic Co. (NASDAQ:SCHL) by 9.9% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 13,284 shares of the company’s stock after selling 1,460 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Scholastic were worth $425,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in SCHL. Pacer Advisors Inc. grew its stake in Scholastic by 18.1% during the 2nd quarter. Pacer Advisors Inc. now owns 1,120,491 shares of the company’s stock worth $39,744,000 after buying an additional 171,775 shares during the last quarter. Azarias Capital Management L.P. grew its stake in shares of Scholastic by 32.7% in the 2nd quarter. Azarias Capital Management L.P. now owns 264,565 shares of the company’s stock valued at $9,384,000 after purchasing an additional 65,120 shares during the last quarter. American Century Companies Inc. grew its stake in shares of Scholastic by 13.2% in the 2nd quarter. American Century Companies Inc. now owns 488,259 shares of the company’s stock valued at $17,319,000 after purchasing an additional 56,835 shares during the last quarter. Millennium Management LLC grew its stake in shares of Scholastic by 45.0% in the 2nd quarter. Millennium Management LLC now owns 182,630 shares of the company’s stock valued at $6,478,000 after purchasing an additional 56,647 shares during the last quarter. Finally, Renaissance Technologies LLC purchased a new position in shares of Scholastic in the 2nd quarter valued at approximately $1,936,000. Hedge funds and other institutional investors own 82.57% of the company’s stock.

Wall Street Analyst Weigh In

Separately, StockNews.com downgraded Scholastic from a “buy” rating to a “hold” rating in a research note on Saturday, October 5th.

Scholastic Stock Down 0.8 %

SCHL opened at $24.64 on Friday. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.14 and a quick ratio of 0.64. The business has a 50 day simple moving average of $28.82 and a 200-day simple moving average of $32.39. The stock has a market capitalization of $693.37 million, a P/E ratio of 44.00 and a beta of 1.06. Scholastic Co. has a 12 month low of $24.47 and a 12 month high of $41.79.

Scholastic (NASDAQ:SCHL) last posted its quarterly earnings results on Thursday, September 26th. The company reported ($2.13) EPS for the quarter, beating the consensus estimate of ($2.48) by $0.35. The business had revenue of $237.20 million during the quarter, compared to analysts’ expectations of $233.49 million. Scholastic had a return on equity of 4.32% and a net margin of 1.49%. During the same period last year, the firm earned ($2.20) EPS. On average, equities analysts anticipate that Scholastic Co. will post 1.41 earnings per share for the current fiscal year.

Scholastic Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Thursday, October 31st will be issued a dividend of $0.20 per share. The ex-dividend date of this dividend is Thursday, October 31st. This represents a $0.80 annualized dividend and a yield of 3.25%. Scholastic’s dividend payout ratio is presently 142.86%.

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.