Allspring Global Investments Holdings LLC Grows Stock Position in Scholastic Co. (NASDAQ:SCHL)

Allspring Global Investments Holdings LLC boosted its position in shares of Scholastic Co. (NASDAQ:SCHL) by 4,475.7% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 5,079 shares of the company’s stock after buying an additional 4,968 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Scholastic were worth $191,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also bought and sold shares of the company. SG Americas Securities LLC grew its holdings in Scholastic by 14.3% during the 4th quarter. SG Americas Securities LLC now owns 4,517 shares of the company’s stock valued at $170,000 after purchasing an additional 566 shares during the last quarter. Victory Capital Management Inc. grew its stake in shares of Scholastic by 20.0% during the third quarter. Victory Capital Management Inc. now owns 8,425 shares of the company’s stock valued at $321,000 after buying an additional 1,403 shares during the last quarter. Versor Investments LP purchased a new stake in shares of Scholastic in the third quarter worth approximately $354,000. Aviva PLC bought a new stake in shares of Scholastic during the 3rd quarter worth approximately $359,000. Finally, Trexquant Investment LP purchased a new position in Scholastic during the 3rd quarter valued at $373,000. Institutional investors own 82.57% of the company’s stock.

Analysts Set New Price Targets

Separately, StockNews.com upgraded Scholastic from a “hold” rating to a “buy” rating in a research report on Friday, March 22nd.

Scholastic Price Performance

Shares of SCHL stock opened at $36.42 on Friday. The company has a market capitalization of $1.04 billion, a P/E ratio of 25.12 and a beta of 1.05. The company’s 50-day simple moving average is $37.39 and its two-hundred day simple moving average is $38.02. Scholastic Co. has a one year low of $32.50 and a one year high of $45.98.

Scholastic (NASDAQ:SCHL) last announced its quarterly earnings data on Thursday, March 21st. The company reported ($0.80) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.80). The company had revenue of $323.70 million for the quarter, compared to analysts’ expectations of $329.21 million. Scholastic had a return on equity of 5.57% and a net margin of 3.16%. During the same quarter in the prior year, the firm earned ($0.57) earnings per share. On average, research analysts expect that Scholastic Co. will post 2.01 EPS for the current fiscal year.

Scholastic Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 17th. Investors of record on Tuesday, April 30th will be paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 2.20%. The ex-dividend date is Monday, April 29th. Scholastic’s dividend payout ratio (DPR) is presently 55.17%.

Insiders Place Their Bets

In other news, EVP Iole Lucchese sold 400,000 shares of the business’s stock in a transaction dated Thursday, April 18th. The shares were sold at an average price of $33.51, for a total value of $13,404,000.00. Following the completion of the sale, the executive vice president now owns 579,247 shares in the company, valued at approximately $19,410,566.97. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 18.62% of the stock is owned by company insiders.

Scholastic Company Profile

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 engages in publication and distribution of children's books, eBooks, media, and interactive products through its school book clubs and fair channels, and trade channel.