Victory Capital Management Inc. Trims Stock Holdings in Scholastic Co. (NASDAQ:SCHL)

Victory Capital Management Inc. cut its holdings in shares of Scholastic Co. (NASDAQ:SCHL) by 18.1% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 7,149 shares of the company’s stock after selling 1,582 shares during the period. Victory Capital Management Inc.’s holdings in Scholastic were worth $254,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of SCHL. Charles Schwab Investment Management Inc. grew its position in Scholastic by 5.1% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 430,679 shares of the company’s stock valued at $16,237,000 after buying an additional 20,961 shares during the last quarter. BNP Paribas Financial Markets increased its stake in shares of Scholastic by 19.6% during the fourth quarter. BNP Paribas Financial Markets now owns 20,233 shares of the company’s stock worth $763,000 after acquiring an additional 3,315 shares during the period. Quest Partners LLC purchased a new position in Scholastic during the fourth quarter worth about $172,000. Allianz Asset Management GmbH lifted 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 valued at $2,419,000 after purchasing an additional 22,933 shares during the period. Finally, Bragg Financial Advisors Inc boosted its holdings in Scholastic by 0.7% in the 4th quarter. Bragg Financial Advisors Inc now owns 372,999 shares of the company’s stock valued at $14,062,000 after purchasing an additional 2,468 shares in the last quarter. 82.57% of the stock is owned by institutional investors and hedge funds.

Scholastic Stock Down 0.3 %

Shares of SCHL stock opened at $31.30 on Tuesday. The stock has a market cap of $895.18 million, a P/E ratio of 21.59 and a beta of 1.03. Scholastic Co. has a fifty-two week low of $28.47 and a fifty-two week high of $41.79. The business has a fifty day simple moving average of $31.28 and a 200-day simple moving average of $34.40.

Scholastic (NASDAQ:SCHL) last announced its earnings results on Thursday, July 18th. The company reported $1.73 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.66 by ($0.93). The business had revenue of $474.90 million for the quarter, compared to analyst estimates of $552.50 million. Scholastic had a return on equity of 3.34% and a net margin of 0.76%. On average, sell-side analysts anticipate that Scholastic Co. will post 1.52 earnings per share for the current year.

Scholastic Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Thursday, October 31st will be given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 2.56%. The ex-dividend date of this dividend is Thursday, October 31st. Scholastic’s payout ratio is 55.17%.

Analysts Set New Price Targets

Separately, StockNews.com raised Scholastic from a “hold” rating to a “buy” rating in a report on Tuesday, August 27th.

Insider Transactions at Scholastic

In related news, CEO Warwick Peter acquired 1,674 shares of the firm’s stock in a transaction that occurred on Tuesday, July 23rd. The shares were acquired at an average price of $30.46 per share, with a total value of $50,990.04. Following the completion of the purchase, the chief executive officer now directly owns 104,349 shares in the company, valued at $3,178,470.54. The purchase was disclosed in a document filed with the SEC, which is available through this link. In other news, CEO Warwick Peter acquired 1,674 shares of Scholastic stock in a transaction that occurred on Tuesday, July 23rd. The shares were acquired at an average price 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 approximately $3,178,470.54. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Iole Lucchese bought 1,654 shares of the stock in a transaction on Tuesday, July 23rd. The stock was purchased at an average cost of $30.49 per share, with a total value of $50,430.46. Following the completion of the purchase, the executive vice president now directly owns 74,264 shares in the company, valued at approximately $2,264,309.36. The disclosure for this purchase can be found here. Insiders own 18.62% of the company’s stock.

Scholastic 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.