Scholastic Co. (NASDAQ:SCHL) Shares Acquired by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. grew its holdings in Scholastic Co. (NASDAQ:SCHL) by 9.1% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 502,179 shares of the company’s stock after acquiring an additional 41,864 shares during the quarter. Charles Schwab Investment Management Inc. owned 1.78% of Scholastic worth $16,075,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the business. nVerses Capital LLC acquired a new stake in shares of Scholastic during the second quarter worth about $35,000. Meeder Asset Management Inc. acquired a new stake in shares of Scholastic during the third quarter worth about $46,000. Innealta Capital LLC acquired a new stake in shares of Scholastic during the second quarter worth about $64,000. Commonwealth Equity Services LLC acquired a new stake in shares of Scholastic during the second quarter worth about $279,000. Finally, BOKF NA acquired a new stake in shares of Scholastic during the second quarter worth about $299,000. Institutional investors and hedge funds own 82.57% of the company’s stock.

Analysts Set New Price Targets

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

Scholastic Stock Up 0.5 %

Scholastic stock opened at $26.57 on Friday. The business has a 50 day simple moving average of $26.13 and a 200-day simple moving average of $30.59. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.14 and a quick ratio of 0.64. Scholastic Co. has a 12 month low of $23.69 and a 12 month high of $41.79. The stock has a market capitalization of $747.68 million, a PE ratio of 47.45 and a beta of 1.07.

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

Scholastic Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Thursday, October 31st will be given a $0.20 dividend. The ex-dividend date is Thursday, October 31st. This represents a $0.80 dividend on an annualized basis and a dividend yield of 3.01%. Scholastic’s dividend payout ratio (DPR) is presently 142.86%.

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.