JPMorgan Chase & Co. Buys 209,524 Shares of Scholastic Co. (NASDAQ:SCHL)

JPMorgan Chase & Co. raised its stake in shares of Scholastic Co. (NASDAQ:SCHL) by 248.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 293,754 shares of the company’s stock after purchasing an additional 209,524 shares during the quarter. JPMorgan Chase & Co. owned 1.05% of Scholastic worth $6,266,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently made changes to their positions in the stock. Barclays PLC lifted its holdings in shares of Scholastic by 291.6% during 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 last quarter. Pacer Advisors Inc. raised its position in Scholastic by 2.0% during the fourth quarter. Pacer Advisors Inc. now owns 838,366 shares of the company’s stock valued at $17,882,000 after purchasing an additional 16,379 shares in the last quarter. Principal Financial Group Inc. lifted its stake in Scholastic by 2.5% during the fourth quarter. Principal Financial Group Inc. now owns 120,446 shares of the company’s stock worth $2,569,000 after purchasing an additional 2,882 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in shares of Scholastic by 13.1% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 568,206 shares of the company’s stock worth $12,120,000 after purchasing an additional 66,027 shares in the last quarter. Finally, Rhumbline Advisers increased its position in shares of Scholastic by 1.1% during the 4th quarter. Rhumbline Advisers now owns 81,637 shares of the company’s stock valued at $1,741,000 after purchasing an additional 860 shares during the last quarter. Institutional investors own 82.57% of the company’s stock.

Scholastic Stock Performance

NASDAQ:SCHL opened at $16.30 on Friday. The company has a market capitalization of $458.05 million, a price-to-earnings ratio of -90.55 and a beta of 1.08. The business has a 50 day moving average of $19.25 and a 200 day moving average of $22.15. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.24 and a quick ratio of 0.81. Scholastic Co. has a 1-year low of $15.77 and a 1-year high of $38.77.

Scholastic (NASDAQ:SCHL) last announced its quarterly earnings data on Thursday, March 20th. The company reported ($0.05) earnings per share for the quarter, topping 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 firm had revenue of $335.40 million during the quarter, compared to analyst estimates of $347.68 million. On average, sell-side analysts predict that Scholastic Co. will post 0.84 earnings per share for the current fiscal year.

Scholastic Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Wednesday, April 30th will be given a dividend of $0.20 per share. The ex-dividend date of this dividend is Wednesday, April 30th. This represents a $0.80 annualized dividend and a yield of 4.91%. Scholastic’s payout ratio is 133.33%.

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.