Scholastic (NASDAQ:SCHL) Stock Price Up 4.9% – Still a Buy?

Scholastic Co. (NASDAQ:SCHL)’s share price was up 4.9% on Wednesday . The stock traded as high as $27.84 and last traded at $27.84. Approximately 114,998 shares traded hands during mid-day trading, a decline of 45% from the average daily volume of 209,213 shares. The stock had previously closed at $26.55.

Wall Street Analysts Forecast Growth

Separately, StockNews.com lowered Scholastic from a “buy” rating to a “hold” rating in a report on Saturday.

Scholastic Stock Performance

The firm’s 50-day moving average price is $30.46 and its two-hundred day moving average price is $33.72. The firm has a market capitalization of $780.89 million, a price-to-earnings ratio of 19.14 and a beta of 1.03. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.64 and a current ratio of 1.14.

Scholastic (NASDAQ:SCHL) last announced its quarterly earnings results 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 company had revenue of $237.20 million for the quarter, compared to analysts’ expectations of $233.49 million. Scholastic had a net margin of 1.49% and a return on equity of 4.32%. During the same period last year, the firm posted ($2.20) earnings per share. Sell-side analysts predict that Scholastic Co. will post 1.41 earnings per share for the current year.

Scholastic Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Shareholders 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 yield of 2.88%. Scholastic’s dividend payout ratio is presently 55.17%.

Insider Buying and Selling at Scholastic

In related news, CEO Warwick Peter bought 1,674 shares of the company’s stock in a transaction on Tuesday, July 23rd. The stock was acquired at an average cost of $30.46 per share, for a total transaction of $50,990.04. Following the completion of the transaction, the chief executive officer now directly owns 104,349 shares in the company, valued at $3,178,470.54. This trade represents a 0.00 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other news, EVP Iole Lucchese purchased 1,654 shares of the company’s stock in a transaction dated Tuesday, July 23rd. The shares were purchased at an average cost of $30.49 per share, for a total transaction of $50,430.46. Following the purchase, the executive vice president now directly owns 74,264 shares in the company, valued at approximately $2,264,309.36. This represents a 0.00 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Warwick Peter purchased 1,674 shares of the company’s stock in a transaction on Tuesday, July 23rd. The stock was purchased at an average price of $30.46 per share, with a total value of $50,990.04. Following the completion of the transaction, the chief executive officer now owns 104,349 shares of the company’s stock, valued at approximately $3,178,470.54. This trade represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 18.62% of the company’s stock.

Institutional Investors Weigh In On Scholastic

Several large investors have recently added to or reduced their stakes in the stock. Bragg Financial Advisors Inc grew its stake in Scholastic by 0.7% during the 4th quarter. Bragg Financial Advisors Inc now owns 372,999 shares of the company’s stock worth $14,062,000 after buying an additional 2,468 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its position in shares of Scholastic by 13.7% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 5,776 shares of the company’s stock worth $218,000 after purchasing an additional 697 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of Scholastic by 11.7% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 15,356 shares of the company’s stock valued at $579,000 after purchasing an additional 1,612 shares during the period. Quent Capital LLC acquired a new position in shares of Scholastic during the first quarter worth $215,000. Finally, LSV Asset Management raised its stake in Scholastic by 14.2% during the 1st quarter. LSV Asset Management now owns 33,000 shares of the company’s stock worth $1,244,000 after acquiring an additional 4,100 shares in the last quarter. 82.57% of the stock is owned by institutional investors.

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.