Corebridge Financial Inc. Reduces Position in Scholastic Co. (NASDAQ:SCHL)

Corebridge Financial Inc. lessened its stake in Scholastic Co. (NASDAQ:SCHL) by 7.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 12,421 shares of the company’s stock after selling 977 shares during the period. Corebridge Financial Inc.’s holdings in Scholastic were worth $265,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in SCHL. FMR LLC raised its position in shares of Scholastic by 58.8% during the 3rd quarter. FMR LLC now owns 2,346 shares of the company’s stock valued at $75,000 after acquiring an additional 869 shares in the last quarter. BNP Paribas Financial Markets lifted its holdings in shares of Scholastic by 99.6% in the 3rd quarter. BNP Paribas Financial Markets now owns 9,711 shares of the company’s stock worth $311,000 after purchasing an additional 4,845 shares during the last quarter. Jane Street Group LLC increased its position in Scholastic by 40.7% in the third quarter. Jane Street Group LLC now owns 52,509 shares of the company’s stock worth $1,681,000 after buying an additional 15,183 shares during the period. Barclays PLC increased its holdings in shares of Scholastic by 291.6% in the 3rd quarter. Barclays PLC now owns 41,228 shares of the company’s stock worth $1,319,000 after acquiring an additional 30,699 shares during the period. Finally, Inspire Investing LLC grew its position in Scholastic by 43.0% in the 4th quarter. Inspire Investing LLC now owns 20,270 shares of the company’s stock worth $432,000 after purchasing an additional 6,096 shares during the last quarter. 82.57% of the stock is owned by institutional investors and hedge funds.

Scholastic Stock Performance

Shares of NASDAQ SCHL opened at $16.39 on Friday. Scholastic Co. has a 12-month low of $16.24 and a 12-month high of $38.77. The company has a current ratio of 1.24, a quick ratio of 0.81 and a debt-to-equity ratio of 0.25. The company has a market cap of $460.58 million, a PE ratio of -91.05 and a beta of 1.08. The stock has a 50 day simple moving average of $19.44 and a 200-day simple moving average of $22.51.

Scholastic (NASDAQ:SCHL) last issued its quarterly earnings data on Thursday, March 20th. The company reported ($0.05) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.78) by $0.73. Scholastic had a negative net margin of 0.27% and a positive return on equity of 1.91%. The business had revenue of $335.40 million for the quarter, compared to analysts’ expectations of $347.68 million. On average, equities research analysts forecast that Scholastic Co. will post 0.84 EPS for the current year.

Scholastic Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Wednesday, April 30th will be paid a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 4.88%. The ex-dividend date is Wednesday, April 30th. Scholastic’s payout ratio is currently 133.33%.

Scholastic 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.