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Scholastic (NASDAQ:SCHL) Upgraded to Buy at StockNews.com

Defense World · Dec 20, 2022 02:51

StockNews.com upgraded shares of Scholastic (NASDAQ:SCHL – Get Rating) from a hold rating to a buy rating in a report published on Monday morning.

Separately, TheStreet upgraded shares of Scholastic from a c rating to a b- rating in a report on Thursday, December 15th.

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Scholastic Price Performance

Shares of NASDAQ SCHL opened at $37.00 on Monday. Scholastic has a one year low of $28.22 and a one year high of $48.28. The firm's 50 day simple moving average is $37.68 and its two-hundred day simple moving average is $38.98. The stock has a market capitalization of $1.27 billion, a P/E ratio of 23.13 and a beta of 1.11.

Scholastic (NASDAQ:SCHL – Get Rating) last issued its earnings results on Thursday, September 22nd. The company reported ($1.33) earnings per share (EPS) for the quarter. Scholastic had a return on equity of 5.98% and a net margin of 3.62%. The firm had revenue of $262.90 million during the quarter.

Scholastic Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, March 15th. Investors of record on Tuesday, January 31st will be paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 2.16%. The ex-dividend date is Monday, January 30th. Scholastic's payout ratio is 50.00%.

Insider Buying and Selling

In other Scholastic news, CEO Warwick Peter purchased 3,245 shares of the company's stock in a transaction that occurred on Tuesday, September 27th. The stock was bought at an average price of $31.03 per share, with a total value of $100,692.35. Following the completion of the purchase, the chief executive officer now directly owns 71,218 shares of the company's stock, valued at approximately $2,209,894.54. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 16.67% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Scholastic

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Azarias Capital Management L.P. lifted its position in Scholastic by 23.8% during the second quarter. Azarias Capital Management L.P. now owns 141,456 shares of the company's stock valued at $5,088,000 after buying an additional 27,209 shares during the period. Ritholtz Wealth Management lifted its position in Scholastic by 143.2% during the second quarter. Ritholtz Wealth Management now owns 17,556 shares of the company's stock valued at $631,000 after buying an additional 10,338 shares during the period. Gladius Capital Management LP purchased a new position in shares of Scholastic in the 2nd quarter worth about $54,000. Brandywine Global Investment Management LLC raised its position in shares of Scholastic by 49.8% in the 2nd quarter. Brandywine Global Investment Management LLC now owns 84,303 shares of the company's stock worth $3,032,000 after purchasing an additional 28,020 shares during the last quarter. Finally, Bragg Financial Advisors Inc raised its position in shares of Scholastic by 0.5% in the 1st quarter. Bragg Financial Advisors Inc now owns 206,355 shares of the company's stock worth $8,312,000 after purchasing an additional 1,078 shares during the last quarter. Hedge funds and other institutional investors own 81.48% of the company's stock.

Scholastic Company Profile

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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 publishes and distributes children's books, e-books, media, and interactive products through its school book club and fair channels, as well as trade channels.