Texas Permanent School Fund Buys 529 Shares of Scholastic Co. (NASDAQ:SCHL)

Texas Permanent School Fund grew its stake in shares of Scholastic Co. (NASDAQ:SCHLGet Rating) by 2.5% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 22,023 shares of the company’s stock after acquiring an additional 529 shares during the period. Texas Permanent School Fund’s holdings in Scholastic were worth $792,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Ritholtz Wealth Management lifted its holdings in Scholastic by 143.2% during the 2nd quarter. Ritholtz Wealth Management now owns 17,556 shares of the company’s stock worth $631,000 after purchasing an additional 10,338 shares during the last quarter. SG Americas Securities LLC acquired a new stake in Scholastic during the 1st quarter worth approximately $177,000. Victory Capital Management Inc. lifted its holdings in Scholastic by 28.7% during the 1st quarter. Victory Capital Management Inc. now owns 33,839 shares of the company’s stock worth $1,247,000 after purchasing an additional 7,538 shares during the last quarter. New York State Common Retirement Fund lifted its holdings in Scholastic by 5.9% during the 1st quarter. New York State Common Retirement Fund now owns 42,911 shares of the company’s stock worth $1,728,000 after purchasing an additional 2,378 shares during the last quarter. Finally, Comerica Bank lifted its holdings in Scholastic by 9.3% during the 1st quarter. Comerica Bank now owns 28,852 shares of the company’s stock worth $1,110,000 after purchasing an additional 2,465 shares during the last quarter. 81.48% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other Scholastic news, CEO Warwick Peter purchased 3,245 shares of the firm’s stock in a transaction dated Tuesday, September 27th. The shares were bought at an average price of $31.03 per share, for a total transaction of $100,692.35. Following the purchase, the chief executive officer now owns 71,218 shares in the company, valued at approximately $2,209,894.54. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 16.67% of the company’s stock.

Scholastic Price Performance

Scholastic stock opened at $40.00 on Monday. The stock’s fifty day moving average price is $36.35 and its two-hundred day moving average price is $38.61. Scholastic Co. has a one year low of $28.22 and a one year high of $48.28. The firm has a market cap of $1.38 billion, a PE ratio of 25.00 and a beta of 1.11.

Scholastic (NASDAQ:SCHLGet Rating) last posted its quarterly earnings data on Thursday, September 22nd. The company reported ($1.33) EPS for the quarter. Scholastic had a return on equity of 5.98% and a net margin of 3.62%. The company had revenue of $262.90 million for the quarter.

Scholastic Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 15th. Shareholders of record on Monday, October 31st will be paid a dividend of $0.20 per share. The ex-dividend date of this dividend is Friday, October 28th. This represents a $0.80 dividend on an annualized basis and a yield of 2.00%. Scholastic’s dividend payout ratio (DPR) is presently 50.00%.

Analysts Set New Price Targets

Several analysts recently weighed in on the company. TheStreet cut Scholastic from a “b” rating to a “c+” rating in a report on Friday, September 23rd. StockNews.com initiated coverage on Scholastic in a research note on Wednesday, October 12th. They set a “hold” rating on the stock.

Scholastic Company Profile

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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 publishes and distributes children's books, e-books, media, and interactive products through its school book club and fair channels, as well as trade channels.

Further Reading

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Institutional Ownership by Quarter for Scholastic (NASDAQ:SCHL)

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