Scholastic (NASDAQ:SCHL) Raised to Buy at StockNews.com

StockNews.com upgraded shares of Scholastic (NASDAQ:SCHL) from a hold rating to a buy rating in a research report report published on Friday.

Scholastic Trading Up 6.2 %

SCHL stock opened at $32.04 on Friday. The firm has a market cap of $904.81 million, a PE ratio of 22.10 and a beta of 1.03. The stock has a 50-day moving average price of $30.89 and a 200-day moving average price of $34.18. Scholastic has a 1-year low of $28.47 and a 1-year high of $41.79.

Scholastic (NASDAQ:SCHL) last announced its quarterly earnings data on Thursday, September 26th. The company reported ($2.13) EPS for the quarter, topping the consensus estimate of ($2.48) by $0.35. Scholastic had a net margin of 0.76% and a return on equity of 3.34%. The company had revenue of $237.20 million during the quarter, compared to the consensus estimate of $233.49 million. During the same quarter last year, the firm posted ($2.20) EPS. On average, analysts forecast that Scholastic will post 1.52 earnings per share for the current year.

Scholastic Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Thursday, October 31st will be given a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 2.50%. The ex-dividend date is Thursday, October 31st. Scholastic’s payout ratio is 55.17%.

Insiders Place Their Bets

In other Scholastic news, CEO Warwick Peter acquired 1,674 shares of the company’s stock in a transaction on Tuesday, July 23rd. The shares were purchased at an average cost of $30.46 per share, with a total value of $50,990.04. Following the completion of the purchase, the chief executive officer now owns 104,349 shares of the company’s stock, valued at $3,178,470.54. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, CEO Warwick Peter bought 1,674 shares of the company’s stock in a transaction dated Tuesday, July 23rd. The shares were bought at an average price of $30.46 per share, for a total transaction of $50,990.04. Following the completion of the acquisition, the chief executive officer now directly owns 104,349 shares of the company’s stock, valued at $3,178,470.54. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Iole Lucchese purchased 1,654 shares of the firm’s stock in a transaction that occurred on Tuesday, July 23rd. The shares were bought at an average price of $30.49 per share, with a total value of $50,430.46. Following the acquisition, the executive vice president now directly 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. Corporate insiders own 18.62% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in SCHL. Jacobs Levy Equity Management Inc. raised its stake in shares of Scholastic by 16.4% during the 1st quarter. Jacobs Levy Equity Management Inc. now owns 306,017 shares of the company’s stock worth $11,540,000 after purchasing an additional 43,199 shares during the period. Acadian Asset Management LLC bought a new position in Scholastic during the second quarter valued at $1,295,000. Allianz Asset Management GmbH increased its position in Scholastic by 55.6% in the fourth quarter. Allianz Asset Management GmbH now owns 64,154 shares of the company’s stock worth $2,419,000 after buying an additional 22,933 shares during the last quarter. Russell Investments Group Ltd. raised its stake in shares of Scholastic by 24.7% in the first quarter. Russell Investments Group Ltd. now owns 26,754 shares of the company’s stock valued at $1,009,000 after buying an additional 5,299 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. lifted its position in shares of Scholastic by 11.7% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 15,356 shares of the company’s stock valued at $579,000 after buying an additional 1,612 shares during the last quarter. 82.57% of the stock is owned by institutional investors.

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.