Goldman Sachs Group Inc. cut its stake in shares of Scholastic Corporation (NASDAQ:SCHL) by 43.7% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 34,235 shares of the company’s stock after selling 26,554 shares during the period. Goldman Sachs Group Inc. owned 0.10% of Scholastic Corporation worth $1,492,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently made changes to their positions in SCHL. BlackRock Inc. grew its stake in shares of Scholastic Corporation by 47,605.6% during the 1st quarter. BlackRock Inc. now owns 3,344,642 shares of the company’s stock valued at $142,381,000 after buying an additional 3,337,631 shares during the period. Acadian Asset Management LLC grew its stake in shares of Scholastic Corporation by 51.3% during the 2nd quarter. Acadian Asset Management LLC now owns 554,380 shares of the company’s stock valued at $24,164,000 after buying an additional 187,938 shares during the period. Alliancebernstein L.P. grew its stake in shares of Scholastic Corporation by 5.6% during the 2nd quarter. Alliancebernstein L.P. now owns 2,007,484 shares of the company’s stock valued at $87,506,000 after buying an additional 107,349 shares during the period. Neuberger Berman Group LLC grew its stake in shares of Scholastic Corporation by 28.4% during the 2nd quarter. Neuberger Berman Group LLC now owns 381,815 shares of the company’s stock valued at $16,643,000 after buying an additional 84,451 shares during the period. Finally, Northern Trust Corp grew its stake in shares of Scholastic Corporation by 6.7% during the 2nd quarter. Northern Trust Corp now owns 1,196,201 shares of the company’s stock valued at $52,143,000 after buying an additional 75,333 shares during the period. 78.93% of the stock is owned by institutional investors.
Scholastic Corporation (NASDAQ:SCHL) last released its earnings results on Thursday, September 21st. The company reported ($1.67) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.34) by ($0.33). Scholastic Corporation had a return on equity of 3.57% and a net margin of 1.71%. The company had revenue of $189.20 million during the quarter, compared to analysts’ expectations of $208.00 million. During the same quarter in the previous year, the company earned ($1.15) EPS. The firm’s quarterly revenue was down 33.1% compared to the same quarter last year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, December 15th. Stockholders of record on Tuesday, October 31st will be paid a dividend of $0.15 per share. The ex-dividend date is Monday, October 30th. This represents a $0.60 annualized dividend and a dividend yield of 1.62%. Scholastic Corporation’s dividend payout ratio (DPR) is 77.92%.
Several analysts have recently issued reports on the stock. BidaskClub cut shares of Scholastic Corporation from a “hold” rating to a “sell” rating in a research note on Tuesday, July 25th. Stifel Nicolaus reissued a “hold” rating and set a $44.00 price objective on shares of Scholastic Corporation in a research note on Wednesday, August 16th. Finally, Zacks Investment Research cut shares of Scholastic Corporation from a “hold” rating to a “sell” rating in a research note on Wednesday, September 20th.
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About Scholastic Corporation
Scholastic Corporation is a publisher and distributor of children’s books, a provider of print and digital instructional materials for pre-kindergarten (pre-K) to grade 12, and a producer of educational and entertaining children’s media. The Company operates through three segments: Children’s Book Publishing and Distribution, Education and International.
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