Comerica Bank trimmed its position in Scholastic Co. (NASDAQ:SCHL – Get Rating) by 11.1% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 23,137 shares of the company's stock after selling 2,900 shares during the quarter. Comerica Bank owned 0.07% of Scholastic worth $859,000 at the end of the most recent reporting period.
Several other hedge funds have also made changes to their positions in the company. BlackRock Inc. lifted its holdings in shares of Scholastic by 0.4% in the 1st quarter. BlackRock Inc. now owns 4,749,630 shares of the company's stock worth $191,317,000 after buying an additional 18,400 shares during the period. Vanguard Group Inc. raised its position in shares of Scholastic by 1.5% in the 1st quarter. Vanguard Group Inc. now owns 2,476,435 shares of the company's stock worth $99,751,000 after acquiring an additional 36,427 shares in the last quarter. Dimensional Fund Advisors LP raised its position in shares of Scholastic by 1.0% in the 1st quarter. Dimensional Fund Advisors LP now owns 2,337,229 shares of the company's stock worth $94,145,000 after acquiring an additional 22,518 shares in the last quarter. State Street Corp raised its position in shares of Scholastic by 3.6% in the 2nd quarter. State Street Corp now owns 1,059,880 shares of the company's stock worth $38,124,000 after acquiring an additional 37,032 shares in the last quarter. Finally, FMR LLC raised its position in shares of Scholastic by 12.2% in the 2nd quarter. FMR LLC now owns 541,063 shares of the company's stock worth $19,463,000 after acquiring an additional 58,879 shares in the last quarter. 81.48% of the stock is currently owned by hedge funds and other institutional investors.
Get Scholastic alerts:Scholastic Price Performance
Shares of NASDAQ:SCHL opened at $43.37 on Thursday. The business's 50-day moving average is $40.09 and its 200 day moving average is $39.96. Scholastic Co. has a 1 year low of $28.22 and a 1 year high of $48.28. The firm has a market capitalization of $1.48 billion, a P/E ratio of 23.96 and a beta of 1.10.
Scholastic (NASDAQ:SCHL – Get Rating) last announced its earnings results on Thursday, December 15th. The company reported $2.12 earnings per share (EPS) for the quarter. Scholastic had a return on equity of 6.50% and a net margin of 3.90%. The company had revenue of $587.90 million for the quarter.Scholastic Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Wednesday, March 15th. Shareholders of record on Tuesday, January 31st will be paid a dividend of $0.20 per share. The ex-dividend date is Monday, January 30th. This represents a $0.80 annualized dividend and a yield of 1.84%. Scholastic's payout ratio is presently 44.20%.
Wall Street Analyst Weigh In
Several research firms have recently commented on SCHL. TheStreet raised Scholastic from a "c" rating to a "b-" rating in a research report on Thursday, December 15th. StockNews.com raised Scholastic from a "hold" rating to a "buy" rating in a research report on Monday, December 19th.
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.
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