Scholastic (NASDAQ:SCHL) Stock Rating Upgraded by StockNews.com

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

Scholastic Price Performance

Shares of SCHL stock opened at $32.04 on Friday. Scholastic has a 1-year low of $28.47 and a 1-year high of $41.79. The firm has a market cap of $904.81 million, a PE ratio of 22.10 and a beta of 1.03. The company has a 50-day moving average of $30.89 and a two-hundred day moving average of $34.23.

Scholastic (NASDAQ:SCHL) last posted its quarterly earnings data on Thursday, September 26th. The company reported ($2.13) earnings per share for the quarter, topping analysts’ consensus estimates of ($2.48) by $0.35. The firm had revenue of $237.20 million during the quarter, compared to analysts’ expectations of $233.49 million. Scholastic had a net margin of 0.76% and a return on equity of 3.34%. During the same quarter last year, the company posted ($2.20) EPS. Sell-side analysts anticipate that Scholastic will post 1.52 EPS for the current fiscal 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 paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 2.50%. The ex-dividend date of this dividend is Thursday, October 31st. Scholastic’s payout ratio is 55.17%.

Insider Activity at Scholastic

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of SCHL. Inspire Investing LLC boosted its stake in shares of Scholastic by 6.4% in the 2nd quarter. Inspire Investing LLC now owns 11,222 shares of the company’s stock valued at $398,000 after buying an additional 675 shares during the period. Allspring Global Investments Holdings LLC lifted its stake in Scholastic by 13.7% in the first quarter. Allspring Global Investments Holdings LLC now owns 5,776 shares of the company’s stock worth $218,000 after acquiring an additional 697 shares during the last quarter. Bessemer Group Inc. grew its holdings in Scholastic by 11.4% during the 1st quarter. Bessemer Group Inc. now owns 7,455 shares of the company’s stock worth $281,000 after acquiring an additional 762 shares in the last quarter. nVerses Capital LLC purchased a new stake in shares of Scholastic in the 2nd quarter valued at approximately $35,000. Finally, WINTON GROUP Ltd raised its holdings in shares of Scholastic by 6.5% in the 2nd quarter. WINTON GROUP Ltd now owns 26,137 shares of the company’s stock valued at $927,000 after purchasing an additional 1,605 shares in the last quarter. 82.57% of the stock is owned by institutional investors and hedge funds.

Scholastic Company 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.