State of Alaska Department of Revenue Reduces Position in Scholastic Co. (NASDAQ:SCHL)

State of Alaska Department of Revenue lowered its holdings in Scholastic Co. (NASDAQ:SCHL) by 4.7% in the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 14,249 shares of the company’s stock after selling 700 shares during the period. State of Alaska Department of Revenue owned about 0.05% of Scholastic worth $456,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of SCHL. nVerses Capital LLC bought a new stake in shares of Scholastic in the 2nd quarter worth about $35,000. Innealta Capital LLC acquired a new stake in Scholastic during the second quarter valued at approximately $64,000. EntryPoint Capital LLC bought a new position in Scholastic during the 1st quarter worth approximately $129,000. Quent Capital LLC acquired a new position in shares of Scholastic in the 1st quarter worth approximately $215,000. Finally, Allspring Global Investments Holdings LLC increased its holdings in shares of Scholastic by 13.7% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 5,776 shares of the company’s stock valued at $218,000 after acquiring an additional 697 shares during the last quarter. Institutional investors and hedge funds own 82.57% of the company’s stock.

Scholastic Trading Down 1.0 %

NASDAQ SCHL opened at $26.17 on Friday. 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 Co. has a one year low of $23.69 and a one year high of $41.79. The company has a 50-day simple moving average of $28.18 and a 200-day simple moving average of $32.05. The firm has a market capitalization of $736.42 million, a PE ratio of 46.73 and a beta of 1.06.

Scholastic (NASDAQ:SCHL) last issued 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 company had revenue of $237.20 million during the quarter, compared to the consensus estimate of $233.49 million. Scholastic had a return on equity of 4.32% and a net margin of 1.49%. During the same period in the previous year, the firm posted ($2.20) earnings per share. On average, equities analysts forecast that Scholastic Co. will post 1.41 earnings per share for the current year.

Scholastic Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Thursday, October 31st will be paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 3.06%. The ex-dividend date of this dividend is Thursday, October 31st. Scholastic’s payout ratio is 142.86%.

Wall Street Analyst Weigh In

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

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.