Scholastic Co. (NASDAQ:SCHL) Shares Sold by Mercer Global Advisors Inc. ADV

Mercer Global Advisors Inc. ADV decreased its stake in Scholastic Co. (NASDAQ:SCHL) by 6.8% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 7,070 shares of the company’s stock after selling 516 shares during the quarter. Mercer Global Advisors Inc. ADV’s holdings in Scholastic were worth $251,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. nVerses Capital LLC purchased a new stake in shares of Scholastic in the 2nd quarter valued at approximately $35,000. Innealta Capital LLC acquired a new position in shares of Scholastic in the 2nd quarter valued at $64,000. EntryPoint Capital LLC acquired a new position in shares of Scholastic in the 1st quarter valued at $129,000. Quent Capital LLC acquired a new position in shares of Scholastic in the 1st quarter valued at $215,000. Finally, Allspring Global Investments Holdings LLC boosted its holdings in shares of Scholastic by 13.7% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 5,776 shares of the company’s stock valued at $218,000 after buying an additional 697 shares in the last quarter. 82.57% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

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

Insiders Place Their Bets

In other news, CEO Warwick Peter acquired 1,674 shares of the business’s stock in a transaction on Tuesday, July 23rd. The stock was bought at an average price of $30.46 per share, for a total transaction of $50,990.04. Following the transaction, the chief executive officer now owns 104,349 shares in the company, valued at $3,178,470.54. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CEO Warwick Peter purchased 1,674 shares of the stock in a transaction dated Tuesday, July 23rd. The shares were acquired at an average cost of $30.46 per share, with a total value of $50,990.04. Following the purchase, the chief executive officer now directly owns 104,349 shares in the company, valued at approximately $3,178,470.54. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Iole Lucchese purchased 1,654 shares of the stock in a transaction dated Tuesday, July 23rd. The shares were bought at an average cost of $30.49 per share, for a total transaction of $50,430.46. Following the completion of the purchase, 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 owned by insiders.

Scholastic Price Performance

SCHL stock opened at $32.01 on Tuesday. The company has a fifty day moving average price of $30.93 and a 200 day moving average price of $34.14. Scholastic Co. has a 12 month low of $28.47 and a 12 month high of $41.79. The company has a market cap of $915.49 million, a price-to-earnings ratio of 22.08 and a beta of 1.03.

Scholastic (NASDAQ:SCHL) last announced its quarterly earnings data on Thursday, September 26th. The company reported ($2.13) EPS for the quarter, topping analysts’ consensus estimates of ($2.48) by $0.35. The company had revenue of $237.20 million during the quarter, compared to the consensus estimate of $233.49 million. Scholastic had a net margin of 0.76% and a return on equity of 3.34%. During the same quarter in the prior year, the firm earned ($2.20) EPS. As a group, analysts anticipate that Scholastic Co. will post 1.52 earnings per share for the current year.

Scholastic Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Thursday, October 31st will be given a dividend of $0.20 per share. The ex-dividend date of this dividend is Thursday, October 31st. This represents a $0.80 dividend on an annualized basis and a yield of 2.50%. Scholastic’s payout ratio is currently 55.17%.

About Scholastic

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.