Scholastic Co. Plans Quarterly Dividend of $0.20 (NASDAQ:SCHL)

Scholastic Co. (NASDAQ:SCHLGet Rating) declared a quarterly dividend on Thursday, September 22nd, Wall Street Journal reports. Stockholders of record on Monday, October 31st will be paid a dividend of 0.20 per share on Thursday, December 15th. This represents a $0.80 annualized dividend and a dividend yield of 1.98%. The ex-dividend date of this dividend is Friday, October 28th.

Scholastic Stock Down 3.4 %

Shares of NASDAQ:SCHL opened at $40.34 on Friday. The firm’s 50 day moving average price is $44.42 and its 200-day moving average price is $39.85. The stock has a market capitalization of $1.39 billion, a PE ratio of 18.09 and a beta of 0.88. Scholastic has a twelve month low of $32.68 and a twelve month high of $48.28.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the stock. StockNews.com raised shares of Scholastic from a “buy” rating to a “strong-buy” rating in a report on Monday, July 25th. TheStreet raised shares of Scholastic from a “c” rating to a “b” rating in a report on Thursday, July 21st.

Insider Buying and Selling at Scholastic

In other Scholastic news, insider Sasha Quinton sold 2,599 shares of the stock in a transaction that occurred on Thursday, August 11th. The shares were sold at an average price of $47.21, for a total transaction of $122,698.79. Following the completion of the sale, the insider now directly owns 31,307 shares of the company’s stock, valued at approximately $1,478,003.47. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 16.67% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of SCHL. Envestnet Asset Management Inc. grew its holdings in shares of Scholastic by 43.2% in the first quarter. Envestnet Asset Management Inc. now owns 7,639 shares of the company’s stock valued at $308,000 after purchasing an additional 2,306 shares in the last quarter. Raymond James & Associates lifted its position in shares of Scholastic by 21.0% during the first quarter. Raymond James & Associates now owns 10,092 shares of the company’s stock worth $407,000 after purchasing an additional 1,753 shares during the last quarter. American Century Companies Inc. increased its stake in shares of Scholastic by 383.1% during the first quarter. American Century Companies Inc. now owns 41,763 shares of the company’s stock valued at $1,682,000 after buying an additional 33,119 shares during the period. Citigroup Inc. increased its stake in shares of Scholastic by 5.7% during the first quarter. Citigroup Inc. now owns 29,521 shares of the company’s stock valued at $1,189,000 after buying an additional 1,593 shares during the period. Finally, Bank of Montreal Can grew its stake in Scholastic by 2.6% in the first quarter. Bank of Montreal Can now owns 14,576 shares of the company’s stock valued at $610,000 after purchasing an additional 363 shares during the last quarter. 81.48% of the stock is owned by hedge funds and other institutional investors.

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.

See Also

Dividend History for Scholastic (NASDAQ:SCHL)

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