Scholastic Co. (NASDAQ:SCHL) Shares Bought by Pacer Advisors Inc.

Defense World · Dec 26, 2022 05:21

Pacer Advisors Inc. lifted its holdings in shares of Scholastic Co. (NASDAQ:SCHL – Get Rating) by 3.2% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 193,659 shares of the company's stock after buying an additional 6,053 shares during the quarter. Pacer Advisors Inc. owned approximately 0.56% of Scholastic worth $5,957,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Azarias Capital Management L.P. lifted its holdings 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 purchasing an additional 27,209 shares in the last quarter. Ritholtz Wealth Management boosted its stake in shares of Scholastic by 143.2% in the second quarter. Ritholtz Wealth Management now owns 17,556 shares of the company's stock worth $631,000 after acquiring an additional 10,338 shares during the last quarter. Gladius Capital Management LP purchased a new stake in shares of Scholastic during the second quarter worth approximately $54,000. Brandywine Global Investment Management LLC raised its stake in Scholastic by 49.8% in the 2nd quarter. Brandywine Global Investment Management LLC now owns 84,303 shares of the company's stock valued at $3,032,000 after purchasing an additional 28,020 shares during the last quarter. Finally, Exchange Traded Concepts LLC purchased a new position in Scholastic in the 3rd quarter valued at $411,000. Hedge funds and other institutional investors own 81.48% of the company's stock.

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Scholastic Price Performance

Shares of SCHL stock opened at $39.61 on Monday. Scholastic Co. has a 1-year low of $28.22 and a 1-year high of $48.28. The firm has a market cap of $1.35 billion, a PE ratio of 21.88 and a beta of 1.11. The company has a 50-day moving average of $38.26 and a two-hundred day moving average of $39.04.

Scholastic (NASDAQ:SCHL – Get Rating) last posted its quarterly earnings data on Thursday, September 22nd. The company reported ($1.33) earnings per share for the quarter. The company had revenue of $262.90 million for the quarter. Scholastic had a return on equity of 6.50% and a net margin of 3.90%.

Scholastic Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 15th. Stockholders of record on Tuesday, January 31st will be paid a $0.20 dividend. The ex-dividend date of this dividend is Monday, January 30th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.02%. Scholastic's payout ratio is presently 44.20%.

Insider Activity

In other news, CEO Warwick Peter bought 3,245 shares of the stock in a transaction that occurred on Tuesday, September 27th. The stock was bought at an average cost of $31.03 per share, for a total transaction of $100,692.35. Following the acquisition, 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 document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 16.67% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. TheStreet raised shares of Scholastic from a "c" rating to a "b-" rating in a research note on Thursday, December 15th. StockNews.com upgraded Scholastic from a "hold" rating to a "buy" rating in a report on Monday, December 19th.

Scholastic 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.