QRG Capital Management Inc. Sells 2,557 Shares of Scholastic Co. (NASDAQ:SCHL)

QRG Capital Management Inc. decreased its holdings in Scholastic Co. (NASDAQ:SCHL) by 21.6% in the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 9,260 shares of the company’s stock after selling 2,557 shares during the period. QRG Capital Management Inc.’s holdings in Scholastic were worth $296,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Jacobs Levy Equity Management Inc. lifted its stake in shares of Scholastic by 16.4% in the 1st quarter. Jacobs Levy Equity Management Inc. now owns 306,017 shares of the company’s stock valued at $11,540,000 after acquiring an additional 43,199 shares during the last quarter. Renaissance Technologies LLC bought a new stake in Scholastic in the second quarter valued at approximately $1,936,000. Acadian Asset Management LLC purchased a new stake in shares of Scholastic during the second quarter valued at approximately $1,295,000. Russell Investments Group Ltd. grew its holdings in shares of Scholastic by 24.7% in the first quarter. Russell Investments Group Ltd. now owns 26,754 shares of the company’s stock worth $1,009,000 after purchasing an additional 5,299 shares during the last quarter. Finally, AQR Capital Management LLC grew its holdings in shares of Scholastic by 62.6% in the second quarter. AQR Capital Management LLC now owns 67,417 shares of the company’s stock worth $2,391,000 after purchasing an additional 25,958 shares during the last quarter. Institutional investors own 82.57% of the company’s stock.

Scholastic Stock Performance

Scholastic stock opened at $26.64 on Tuesday. Scholastic Co. has a 1-year low of $23.69 and a 1-year high of $41.79. The firm has a market cap of $749.65 million, a P/E ratio of 47.57 and a beta of 1.06. The company has a current ratio of 1.14, a quick ratio of 0.64 and a debt-to-equity ratio of 0.24. The firm has a 50-day moving average of $28.08 and a 200-day moving average of $31.92.

Scholastic (NASDAQ:SCHL) last issued its quarterly earnings data on Thursday, September 26th. The company reported ($2.13) earnings per share for the quarter, topping analysts’ consensus estimates of ($2.48) by $0.35. The firm had revenue of $237.20 million for the quarter, compared to analyst estimates of $233.49 million. Scholastic had a return on equity of 4.32% and a net margin of 1.49%. During the same period last year, the company earned ($2.20) EPS. Sell-side analysts expect that Scholastic Co. will post 1.41 EPS for the current year.

Scholastic Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Thursday, October 31st will be given a $0.20 dividend. The ex-dividend date is Thursday, October 31st. This represents a $0.80 annualized dividend and a dividend yield of 3.00%. Scholastic’s dividend payout ratio is 142.86%.

Analyst Upgrades and Downgrades

Separately, StockNews.com cut shares of 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.