Geode Capital Management LLC Sells 28,825 Shares of Scholastic Corporation $SCHL

Geode Capital Management LLC lessened its stake in shares of Scholastic Corporation (NASDAQ:SCHL) by 4.9% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 560,415 shares of the company’s stock after selling 28,825 shares during the quarter. Geode Capital Management LLC owned 2.24% of Scholastic worth $11,760,000 at the end of the most recent reporting period.

Other institutional investors have also bought and sold shares of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in Scholastic by 4.8% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 13,851 shares of the company’s stock worth $262,000 after acquiring an additional 630 shares in the last quarter. US Bancorp DE grew its holdings in shares of Scholastic by 6.2% in the 1st quarter. US Bancorp DE now owns 11,137 shares of the company’s stock worth $210,000 after purchasing an additional 654 shares during the last quarter. Signaturefd LLC increased its position in shares of Scholastic by 819.5% during the 2nd quarter. Signaturefd LLC now owns 1,223 shares of the company’s stock worth $26,000 after purchasing an additional 1,090 shares in the last quarter. Nisa Investment Advisors LLC increased its position in shares of Scholastic by 13.6% during the 2nd quarter. Nisa Investment Advisors LLC now owns 20,259 shares of the company’s stock worth $425,000 after purchasing an additional 2,423 shares in the last quarter. Finally, Teacher Retirement System of Texas lifted its holdings in Scholastic by 28.4% during the 2nd quarter. Teacher Retirement System of Texas now owns 17,510 shares of the company’s stock valued at $367,000 after purchasing an additional 3,876 shares during the last quarter. Institutional investors and hedge funds own 82.57% of the company’s stock.

Analyst Ratings Changes

Several analysts have weighed in on the stock. Wall Street Zen cut shares of Scholastic from a “buy” rating to a “hold” rating in a research note on Friday, September 5th. Zacks Research raised Scholastic from a “strong sell” rating to a “hold” rating in a report on Friday, November 7th. Weiss Ratings restated a “sell (d)” rating on shares of Scholastic in a research report on Wednesday, October 8th. Finally, B. Riley initiated coverage on Scholastic in a report on Wednesday, September 3rd. They set a “buy” rating and a $37.00 price target for the company. One research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $37.00.

Scholastic Stock Performance

Shares of Scholastic stock opened at $30.08 on Wednesday. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.16 and a quick ratio of 0.65. The firm has a 50 day simple moving average of $28.49 and a 200 day simple moving average of $24.65. Scholastic Corporation has a fifty-two week low of $15.77 and a fifty-two week high of $31.86. The firm has a market cap of $756.18 million, a P/E ratio of -45.58 and a beta of 1.24.

Scholastic (NASDAQ:SCHL) last posted its quarterly earnings data on Thursday, September 18th. The company reported ($2.52) earnings per share (EPS) for the quarter, missing the consensus estimate of ($2.44) by ($0.08). The firm had revenue of $225.60 million for the quarter, compared to analyst estimates of $240.41 million. Scholastic had a positive return on equity of 1.10% and a negative net margin of 0.65%.During the same period in the prior year, the company posted ($2.13) EPS. Sell-side analysts predict that Scholastic Corporation will post 0.84 earnings per share for the current fiscal year.

Scholastic Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, December 15th. Investors of record on Friday, October 31st will be issued a $0.20 dividend. The ex-dividend date is Friday, October 31st. This represents a $0.80 annualized dividend and a yield of 2.7%. Scholastic’s dividend payout ratio (DPR) is currently -121.21%.

About Scholastic

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.