Caxton Associates LP Boosts Stake in Scholastic Co. (NASDAQ:SCHL)

Caxton Associates LP lifted its holdings in shares of Scholastic Co. (NASDAQ:SCHL) by 37.1% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 32,889 shares of the company’s stock after acquiring an additional 8,903 shares during the quarter. Caxton Associates LP owned 0.12% of Scholastic worth $1,167,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of the business. Pacer Advisors Inc. boosted its stake in Scholastic by 18.1% during the 2nd quarter. Pacer Advisors Inc. now owns 1,120,491 shares of the company’s stock valued at $39,744,000 after acquiring an additional 171,775 shares during the last quarter. American Century Companies Inc. grew its stake in Scholastic by 13.2% in the second quarter. American Century Companies Inc. now owns 488,259 shares of the company’s stock worth $17,319,000 after purchasing an additional 56,835 shares in the last quarter. Bragg Financial Advisors Inc increased its holdings in Scholastic by 0.7% in the fourth quarter. Bragg Financial Advisors Inc now owns 372,999 shares of the company’s stock valued at $14,062,000 after buying an additional 2,468 shares during the last quarter. Jacobs Levy Equity Management Inc. raised its stake in Scholastic by 16.4% during the first quarter. Jacobs Levy Equity Management Inc. now owns 306,017 shares of the company’s stock valued at $11,540,000 after buying an additional 43,199 shares in the last quarter. Finally, Azarias Capital Management L.P. lifted its holdings in Scholastic by 32.7% during the 2nd quarter. Azarias Capital Management L.P. now owns 264,565 shares of the company’s stock worth $9,384,000 after buying an additional 65,120 shares during the last quarter. Institutional investors and hedge funds own 82.57% of the company’s stock.

Scholastic Stock Performance

Shares of NASDAQ:SCHL opened at $30.18 on Friday. The company’s fifty day moving average is $30.83 and its two-hundred day moving average is $34.28. Scholastic Co. has a 1-year low of $28.47 and a 1-year high of $41.79. The stock has a market capitalization of $863.15 million, a price-to-earnings ratio of 20.81 and a beta of 1.03.

Scholastic (NASDAQ:SCHL) last issued its earnings results on Thursday, July 18th. The company reported $1.73 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.66 by ($0.93). The business had revenue of $474.90 million during the quarter, compared to the consensus estimate of $552.50 million. Scholastic had a return on equity of 3.34% and a net margin of 0.76%. Sell-side analysts expect that Scholastic Co. will post 1.52 EPS for the current fiscal year.

Scholastic Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Thursday, October 31st will be paid a dividend of $0.20 per share. The ex-dividend date is Thursday, October 31st. This represents a $0.80 dividend on an annualized basis and a yield of 2.65%. Scholastic’s payout ratio is currently 55.17%.

Insiders Place Their Bets

In other news, EVP Iole Lucchese purchased 1,654 shares of the stock in a transaction dated Tuesday, July 23rd. The stock was acquired at an average price of $30.49 per share, for a total transaction of $50,430.46. Following the completion of the transaction, the executive vice president now owns 74,264 shares of the company’s stock, valued at $2,264,309.36. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. In other Scholastic news, CEO Warwick Peter purchased 1,674 shares of the business’s stock in a transaction dated Tuesday, July 23rd. The shares were bought at an average price of $30.46 per share, with a total value of $50,990.04. Following the completion of the acquisition, the chief executive officer now owns 104,349 shares in the company, valued at approximately $3,178,470.54. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Iole Lucchese acquired 1,654 shares of Scholastic stock in a transaction dated Tuesday, July 23rd. The shares were acquired at an average price of $30.49 per share, with a total value of $50,430.46. Following the completion of the transaction, the executive vice president now owns 74,264 shares of the company’s stock, valued at approximately $2,264,309.36. The disclosure for this purchase can be found here. 18.62% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Separately, StockNews.com raised Scholastic from a “hold” rating to a “buy” rating in a research report on Tuesday, August 27th.

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 print, digital, and audio books, as well as media and interactive products through its school reading events and trade channel; and operation of school-based book clubs and book fairs in the United States.