Scholastic (NASDAQ:SCHL) Reaches New 1-Year Low at $26.72

Shares of Scholastic Co. (NASDAQ:SCHL) reached a new 52-week low during trading on Thursday . The stock traded as low as $26.72 and last traded at $26.79, with a volume of 20211 shares changing hands. The stock had previously closed at $27.84.

Analysts Set New Price Targets

Separately, StockNews.com upgraded shares of Scholastic from a “hold” rating to a “buy” rating in a research report on Friday, September 27th.

Scholastic Stock Down 4.0 %

The business has a 50-day simple moving average of $30.85 and a 200-day simple moving average of $34.05. The company has a market cap of $754.86 million, a PE ratio of 18.27 and a beta of 1.03.

Scholastic (NASDAQ:SCHL) last announced its earnings results on Thursday, September 26th. The company reported ($2.13) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($2.48) by $0.35. Scholastic had a return on equity of 4.25% and a net margin of 1.49%. The firm had revenue of $237.20 million for the quarter, compared to analyst estimates of $233.49 million. During the same quarter last year, the firm posted ($2.20) EPS. On average, research analysts forecast that Scholastic Co. will post 1.23 EPS for the current fiscal 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 2.99%. Scholastic’s dividend payout ratio (DPR) is 55.17%.

Insider Transactions at Scholastic

In other news, CEO Warwick Peter bought 1,674 shares of Scholastic stock in a transaction on Tuesday, July 23rd. The stock was acquired at an average price of $30.46 per share, with a total value of $50,990.04. Following the completion of the acquisition, the chief executive officer now directly owns 104,349 shares of the company’s stock, valued at $3,178,470.54. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other Scholastic news, CEO Warwick Peter bought 1,674 shares of the company’s stock in a transaction dated Tuesday, July 23rd. The stock was acquired at an average price of $30.46 per share, with a total value of $50,990.04. Following the completion of the acquisition, the chief executive officer now directly owns 104,349 shares of the company’s stock, valued at $3,178,470.54. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Iole Lucchese purchased 1,654 shares of the firm’s stock in a transaction dated Tuesday, July 23rd. The stock was acquired 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 of the company’s stock, valued at approximately $2,264,309.36. The disclosure for this purchase can be found here. Corporate insiders own 18.62% of the company’s stock.

Hedge Funds Weigh In On Scholastic

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. nVerses Capital LLC acquired a new stake in shares of Scholastic in the 2nd quarter worth $35,000. Innealta Capital LLC acquired a new stake in Scholastic during the second quarter worth about $64,000. EntryPoint Capital LLC purchased a new position in Scholastic during the first quarter worth about $129,000. Quent Capital LLC purchased a new position in Scholastic during the first quarter worth about $215,000. Finally, Allspring Global Investments Holdings LLC boosted its holdings in 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 purchasing an additional 697 shares during the last quarter. Institutional investors and hedge funds own 82.57% of the company’s stock.

Scholastic Company 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.