LSV Asset Management Takes Position in Scholastic Co. (NASDAQ:SCHL)

LSV Asset Management purchased a new stake in Scholastic Co. (NASDAQ:SCHL) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 28,900 shares of the company’s stock, valued at approximately $1,090,000. LSV Asset Management owned about 0.10% of Scholastic as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently bought and sold shares of SCHL. Cornercap Investment Counsel Inc. acquired a new position in Scholastic in the 4th quarter valued at $974,000. Oak Family Advisors LLC increased its position in Scholastic by 15.2% during the 4th quarter. Oak Family Advisors LLC now owns 27,728 shares of the company’s stock worth $1,045,000 after purchasing an additional 3,656 shares in the last quarter. SG Americas Securities LLC boosted its position in Scholastic by 14.3% in the fourth quarter. SG Americas Securities LLC now owns 4,517 shares of the company’s stock valued at $170,000 after buying an additional 566 shares in the last quarter. Illinois Municipal Retirement Fund acquired a new stake in Scholastic in the third quarter valued at approximately $672,000. Finally, Aviva PLC acquired a new position in shares of Scholastic during the third quarter worth $359,000. 82.57% of the stock is currently owned by institutional investors and hedge funds.

Scholastic Stock Performance

NASDAQ:SCHL opened at $36.10 on Friday. Scholastic Co. has a fifty-two week low of $32.50 and a fifty-two week high of $45.98. The company has a 50 day simple moving average of $36.80 and a two-hundred day simple moving average of $37.94. The company has a market capitalization of $1.03 billion, a PE ratio of 24.90 and a beta of 1.06.

Scholastic (NASDAQ:SCHL) last posted its quarterly earnings data on Thursday, March 21st. The company reported ($0.80) earnings per share for the quarter, hitting the consensus estimate of ($0.80). The company had revenue of $323.70 million during the quarter, compared to analysts’ expectations of $329.21 million. Scholastic had a net margin of 3.16% and a return on equity of 5.57%. During the same period in the prior year, the company posted ($0.57) earnings per share. Research analysts predict that Scholastic Co. will post 2.01 EPS for the current year.

Scholastic Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 17th. Shareholders of record on Tuesday, April 30th will be issued a $0.20 dividend. The ex-dividend date is Monday, April 29th. This represents a $0.80 dividend on an annualized basis and a yield of 2.22%. Scholastic’s payout ratio is currently 55.17%.

Insider Buying and Selling at Scholastic

In other news, EVP Iole Lucchese sold 400,000 shares of Scholastic stock in a transaction on Thursday, April 18th. The shares were sold at an average price of $33.51, for a total value of $13,404,000.00. Following the completion of the sale, the executive vice president now owns 579,247 shares in the company, valued at approximately $19,410,566.97. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 18.62% of the company’s stock.

Analysts Set New Price Targets

Separately, StockNews.com raised shares of Scholastic from a “hold” rating to a “buy” rating in a report on Friday, March 22nd.

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 books, eBooks, media, and interactive products through its school book clubs and fair channels, and trade channel.