Public Sector Pension Investment Board Has $1.69 Million Position in Scholastic Co. (NASDAQ:SCHL)

Public Sector Pension Investment Board lessened its holdings in shares of Scholastic Co. (NASDAQ:SCHL) by 5.5% in the 3rd quarter, Holdings Channel.com reports. The firm owned 52,928 shares of the company’s stock after selling 3,100 shares during the quarter. Public Sector Pension Investment Board’s holdings in Scholastic were worth $1,694,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently added to or reduced their stakes in the business. nVerses Capital LLC acquired a new position in shares of Scholastic during the second quarter worth approximately $35,000. Meeder Asset Management Inc. bought a new position in shares of Scholastic during the 3rd quarter worth about $46,000. Innealta Capital LLC bought a new stake in shares of Scholastic in the second quarter valued at about $64,000. FMR LLC grew its position in Scholastic by 58.8% during the third quarter. FMR LLC now owns 2,346 shares of the company’s stock worth $75,000 after buying an additional 869 shares in the last quarter. Finally, Commonwealth Equity Services LLC bought a new position in Scholastic during the second quarter valued at about $279,000. Institutional investors own 82.57% of the company’s stock.

Wall Street Analyst Weigh In

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

Scholastic Trading Up 0.6 %

SCHL stock opened at $26.45 on Friday. 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 market cap of $744.30 million, a P/E ratio of 46.97 and a beta of 1.07. Scholastic Co. has a 1-year low of $23.69 and a 1-year high of $41.79. The business’s 50 day moving average is $26.32 and its 200-day moving average is $30.74.

Scholastic (NASDAQ:SCHL) last issued its quarterly earnings data 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 4.32% and a net margin of 1.49%. The company had revenue of $237.20 million during the quarter, compared to analysts’ expectations of $233.49 million. During the same period last year, the business earned ($2.20) earnings per share. Equities analysts anticipate that Scholastic Co. will post 1.41 earnings per share for the current fiscal year.

Scholastic Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Thursday, October 31st will be issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 3.02%. The ex-dividend date is Thursday, October 31st. Scholastic’s payout ratio is 142.86%.

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.