BNP Paribas Financial Markets Increases Stake in Scholastic Co. (NASDAQ:SCHL)

BNP Paribas Financial Markets raised its stake in Scholastic Co. (NASDAQ:SCHLFree Report) by 19.6% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 20,233 shares of the company’s stock after acquiring an additional 3,315 shares during the period. BNP Paribas Financial Markets owned approximately 0.07% of Scholastic worth $763,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Jacobs Levy Equity Management Inc. bought a new stake in shares of Scholastic in the 3rd quarter worth about $11,263,000. LSV Asset Management purchased a new stake in Scholastic during the fourth quarter valued at approximately $1,090,000. National Bank of Canada FI bought a new stake in shares of Scholastic in the 4th quarter valued at approximately $1,013,000. Cornercap Investment Counsel Inc. bought a new position in shares of Scholastic during the 4th quarter valued at approximately $974,000. Finally, Kennedy Capital Management LLC raised its holdings in Scholastic by 103.3% during the 3rd quarter. Kennedy Capital Management LLC now owns 50,000 shares of the company’s stock valued at $1,907,000 after buying an additional 25,403 shares during the period. Institutional investors own 82.57% of the company’s stock.

Scholastic Stock Down 0.4 %

SCHL stock opened at $36.00 on Friday. The firm has a market cap of $1.03 billion, a price-to-earnings ratio of 24.83 and a beta of 1.06. Scholastic Co. has a twelve month low of $32.50 and a twelve month high of $45.98. The business’s fifty day simple moving average is $36.42 and its two-hundred day simple moving average is $37.78.

Scholastic (NASDAQ:SCHLGet Free Report) last announced its quarterly earnings data on Thursday, March 21st. The company reported ($0.80) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.80). The company had revenue of $323.70 million during the quarter, compared to analyst estimates of $329.21 million. Scholastic had a net margin of 3.16% and a return on equity of 5.57%. During the same quarter last year, the business posted ($0.57) EPS. Research analysts expect that Scholastic Co. will post 2.01 EPS for the current year.

Scholastic Dividend Announcement

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

Wall Street Analyst Weigh In

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

Read Our Latest Research Report on Scholastic

Insiders Place Their Bets

In other news, EVP Iole Lucchese sold 400,000 shares of the stock in a transaction on Thursday, April 18th. The stock was sold at an average price of $33.51, for a total transaction of $13,404,000.00. Following the transaction, the executive vice president now owns 579,247 shares of the company’s stock, valued at approximately $19,410,566.97. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 18.62% of the stock is currently owned by company insiders.

About Scholastic

(Free Report)

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.

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Institutional Ownership by Quarter for Scholastic (NASDAQ:SCHL)

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