Wellington Shields Capital Management LLC Purchases New Shares in Scholastic Corporation $SCHL

Wellington Shields Capital Management LLC acquired a new position in Scholastic Corporation (NASDAQ:SCHL) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 28,000 shares of the company’s stock, valued at approximately $767,000. Wellington Shields Capital Management LLC owned approximately 0.11% of Scholastic at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. AQR Capital Management LLC increased its position in shares of Scholastic by 160.5% during the first quarter. AQR Capital Management LLC now owns 157,436 shares of the company’s stock valued at $2,972,000 after buying an additional 96,998 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of Scholastic by 4.8% in the 1st 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. Empowered Funds LLC raised its position in shares of Scholastic by 4.2% in the 1st quarter. Empowered Funds LLC now owns 164,178 shares of the company’s stock worth $3,100,000 after acquiring an additional 6,628 shares in the last quarter. Jane Street Group LLC lifted its stake in shares of Scholastic by 457.8% in the 1st quarter. Jane Street Group LLC now owns 81,390 shares of the company’s stock valued at $1,537,000 after purchasing an additional 66,798 shares during the period. Finally, CWM LLC boosted its position in shares of Scholastic by 152.9% during the second quarter. CWM LLC now owns 10,607 shares of the company’s stock valued at $223,000 after purchasing an additional 6,413 shares in the last quarter. Institutional investors own 82.57% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have commented on the company. Weiss Ratings raised Scholastic from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Friday, January 30th. Zacks Research raised shares of Scholastic from a “hold” rating to a “strong-buy” rating in a research note on Wednesday. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of “Buy” and an average target price of $37.00.

Scholastic Price Performance

SCHL opened at $34.11 on Friday. The firm has a market cap of $867.76 million, a PE ratio of -170.55 and a beta of 1.19. The stock has a 50-day moving average price of $31.49 and a 200-day moving average price of $28.55. Scholastic Corporation has a 1 year low of $15.77 and a 1 year high of $35.79. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.67 and a quick ratio of 1.24.

Scholastic (NASDAQ:SCHL) last released its quarterly earnings data on Thursday, December 18th. The company reported $2.17 earnings per share for the quarter, beating analysts’ consensus estimates of $2.07 by $0.10. The business had revenue of $551.10 million during the quarter, compared to analyst estimates of $556.72 million. Scholastic had a negative net margin of 0.21% and a positive return on equity of 2.66%. During the same period last year, the business earned $1.82 EPS. Sell-side analysts predict that Scholastic Corporation will post 0.84 earnings per share for the current fiscal year.

Scholastic Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 16th. Investors of record on Friday, January 30th will be given a $0.20 dividend. The ex-dividend date of this dividend is Friday, January 30th. This represents a $0.80 annualized dividend and a yield of 2.3%. Scholastic’s dividend payout ratio is -400.00%.

About Scholastic

Scholastic Corporation (NASDAQ: SCHL) is a global company dedicated to children’s publishing, education technology and distribution services. The company’s core business encompasses three primary segments: Children’s Book Publishing and Distribution, Education Technology, and International operations. Through its publishing arm, Scholastic produces and distributes a wide range of children’s books, novels, nonfiction titles and classroom magazines under well-known imprints such as Scholastic Press, Graphix and Chicken House.