16,030 Shares in Scholastic Corporation $SCHL Purchased by Ibex Wealth Advisors

Ibex Wealth Advisors acquired a new position in shares of Scholastic Corporation (NASDAQ:SCHL) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 16,030 shares of the company’s stock, valued at approximately $439,000. Ibex Wealth Advisors owned 0.06% of Scholastic at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Acadian Asset Management LLC raised its holdings in shares of Scholastic by 286.6% during the second quarter. Acadian Asset Management LLC now owns 184,666 shares of the company’s stock valued at $3,873,000 after acquiring an additional 136,903 shares during the period. AQR Capital Management LLC grew its position in Scholastic by 160.5% during the 1st quarter. AQR Capital Management LLC now owns 157,436 shares of the company’s stock worth $2,972,000 after purchasing an additional 96,998 shares in the last quarter. Allianz Asset Management GmbH grew its position in Scholastic by 21.5% during the 3rd quarter. Allianz Asset Management GmbH now owns 386,928 shares of the company’s stock worth $10,594,000 after purchasing an additional 68,562 shares in the last quarter. Jane Street Group LLC raised its stake in Scholastic by 457.8% during the 1st quarter. Jane Street Group LLC now owns 81,390 shares of the company’s stock valued at $1,537,000 after purchasing an additional 66,798 shares during the period. Finally, Brandes Investment Partners LP lifted its holdings in shares of Scholastic by 124.0% in the second quarter. Brandes Investment Partners LP now owns 97,149 shares of the company’s stock valued at $2,038,000 after purchasing an additional 53,784 shares in the last quarter. 82.57% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on SCHL. Weiss Ratings upgraded Scholastic from a “sell (d+)” rating to a “hold (c-)” rating in a report on Friday, January 30th. Zacks Research raised Scholastic from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, February 4th. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of $37.00.

Scholastic Trading Up 1.5%

Shares of NASDAQ SCHL opened at $34.77 on Friday. The business has a 50 day simple moving average of $32.98 and a 200 day simple moving average of $29.53. Scholastic Corporation has a 52 week low of $15.77 and a 52 week high of $35.98. The stock has a market cap of $884.55 million, a price-to-earnings ratio of -173.85 and a beta of 1.19. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.24 and a current ratio of 1.67.

Scholastic (NASDAQ:SCHL) last issued its quarterly earnings data on Thursday, December 18th. The company reported $2.17 earnings per share for the quarter, beating the consensus estimate of $2.07 by $0.10. The firm had revenue of $551.10 million for the quarter, compared to analyst estimates of $556.72 million. Scholastic had a negative net margin of 0.21% and a positive return on equity of 2.66%. During the same quarter last year, the firm earned $1.82 earnings per share. On average, research analysts predict that Scholastic Corporation will post 0.84 earnings per share for the current fiscal year.

Scholastic Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 16th. Investors of record on Friday, January 30th will be issued a $0.20 dividend. The ex-dividend date is Friday, January 30th. This represents a $0.80 dividend on an annualized basis and a yield of 2.3%. Scholastic’s dividend payout ratio is currently -400.00%.

Scholastic Profile

Scholastic Corporation (NASDAQ: SCHL) is a global company dedicated to children’s publishing, education technology and distribution services. The company’s core business encompasses three primary segments: Children’s Book Publishing and Distribution, Education Technology, and International operations. Through its publishing arm, Scholastic produces and distributes a wide range of children’s books, novels, nonfiction titles and classroom magazines under well-known imprints such as Scholastic Press, Graphix and Chicken House.