Royce & Associates LP Grows Stock Position in Scholastic Co. (NASDAQ:SCHL)

Royce & Associates LP boosted its position in shares of Scholastic Co. (NASDAQ:SCHL) by 83.9% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 42,194 shares of the company’s stock after buying an additional 19,255 shares during the quarter. Royce & Associates LP’s holdings in Scholastic were worth $1,351,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of the company. Inspire Investing LLC boosted its stake in shares of Scholastic by 6.4% during the 2nd quarter. Inspire Investing LLC now owns 11,222 shares of the company’s stock worth $398,000 after purchasing an additional 675 shares during the period. Creative Planning boosted its position in shares of Scholastic by 4.4% during the third quarter. Creative Planning now owns 16,135 shares of the company’s stock valued at $516,000 after buying an additional 679 shares during the period. Bessemer Group Inc. grew its stake in shares of Scholastic by 11.4% during the first quarter. Bessemer Group Inc. now owns 7,455 shares of the company’s stock valued at $281,000 after buying an additional 762 shares during the last quarter. nVerses Capital LLC purchased a new stake in shares of Scholastic in the second quarter worth approximately $35,000. Finally, WINTON GROUP Ltd lifted its stake in shares of Scholastic by 6.5% during the 2nd quarter. WINTON GROUP Ltd now owns 26,137 shares of the company’s stock worth $927,000 after acquiring an additional 1,605 shares during the last quarter. Institutional investors own 82.57% of the company’s stock.

Scholastic Price Performance

Scholastic stock opened at $24.27 on Wednesday. The stock has a market cap of $682.96 million, a price-to-earnings ratio of 43.34 and a beta of 1.06. The firm has a 50-day moving average of $27.40 and a two-hundred day moving average of $31.47. Scholastic Co. has a 1 year low of $23.69 and a 1 year high of $41.79. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.14 and a quick ratio of 0.64.

Scholastic (NASDAQ:SCHL) last released its quarterly earnings data on Thursday, September 26th. The company reported ($2.13) EPS for the quarter, topping the consensus estimate of ($2.48) by $0.35. Scholastic had a return on equity of 4.32% and a net margin of 1.49%. The company had revenue of $237.20 million for the quarter, compared to the consensus estimate of $233.49 million. During the same period last year, the business posted ($2.20) EPS. On average, research analysts forecast that Scholastic Co. will post 1.41 earnings per share for the current year.

Scholastic Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Thursday, October 31st will be paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 3.30%. The ex-dividend date is Thursday, October 31st. Scholastic’s dividend payout ratio (DPR) is presently 142.86%.

Analysts Set New Price Targets

Separately, StockNews.com downgraded Scholastic from a “buy” rating to a “hold” rating in a research report on Saturday, October 5th.

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.