Amundi Pioneer Asset Management Inc. purchased a new position in shares of Scholastic Corp (NASDAQ:SCHL) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 7,100 shares of the company’s stock, valued at approximately $286,000.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Sound Income Strategies LLC bought a new position in Scholastic in the fourth quarter valued at approximately $48,000. Quantamental Technologies LLC acquired a new position in shares of Scholastic in the 4th quarter valued at $61,000. United Services Automobile Association bought a new position in shares of Scholastic in the 3rd quarter worth $210,000. Vident Investment Advisory LLC bought a new position in shares of Scholastic in the 3rd quarter worth $317,000. Finally, Quantbot Technologies LP acquired a new stake in shares of Scholastic during the third quarter worth $322,000. 81.05% of the stock is owned by institutional investors and hedge funds.

Shares of NASDAQ SCHL opened at $39.93 on Wednesday. The company has a market cap of $1.45 billion, a P/E ratio of 27.92 and a beta of 0.75. Scholastic Corp has a 52-week low of $36.30 and a 52-week high of $47.94.

Scholastic (NASDAQ:SCHL) last posted its earnings results on Thursday, March 21st. The company reported ($0.32) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.27) by ($0.05). The firm had revenue of $360.10 million during the quarter, compared to analyst estimates of $371.10 million. Scholastic had a return on equity of 4.30% and a net margin of 2.89%. The company’s revenue for the quarter was up 4.5% on a year-over-year basis. During the same quarter last year, the business posted $1.60 earnings per share. Equities analysts forecast that Scholastic Corp will post 1.62 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 17th. Investors of record on Tuesday, April 30th will be given a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.50%. The ex-dividend date of this dividend is Monday, April 29th. Scholastic’s dividend payout ratio is currently 41.96%.

In related news, EVP Judith Newman sold 3,587 shares of the firm’s stock in a transaction on Friday, January 18th. The stock was sold at an average price of $41.65, for a total transaction of $149,398.55. Following the sale, the executive vice president now owns 12,748 shares of the company’s stock, valued at approximately $530,954.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 21.79% of the stock is owned by corporate insiders.

A number of equities research analysts recently commented on the company. Zacks Investment Research upgraded Scholastic from a “hold” rating to a “buy” rating and set a $50.00 price objective for the company in a report on Saturday, December 15th. BidaskClub upgraded Scholastic from a “hold” rating to a “buy” rating in a report on Tuesday, December 18th. Finally, ValuEngine lowered Scholastic from a “buy” rating to a “hold” rating in a research report on Tuesday, March 19th. Two research analysts have rated the stock with a sell rating and three have assigned a hold rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $44.50.

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Scholastic Company Profile

Scholastic Corporation publishes and distributes children's books worldwide. It operates in three segments: Children's Book Publishing and Distribution, Education, 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 school book fair channels, as well as through its trade channel.

Further Reading: Quiet Period

Institutional Ownership by Quarter for Scholastic (NASDAQ:SCHL)

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