State Street Corp Decreases Holdings in Scholastic Co. (NASDAQ:SCHL)

State Street Corp reduced its position in Scholastic Co. (NASDAQ:SCHL) by 2.2% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 950,817 shares of the company’s stock after selling 21,229 shares during the quarter. State Street Corp’s holdings in Scholastic were worth $30,436,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. nVerses Capital LLC acquired a new stake in Scholastic in the second quarter worth about $35,000. Meeder Asset Management Inc. purchased a new position in shares of Scholastic in the 3rd quarter valued at approximately $46,000. Innealta Capital LLC acquired a new stake in Scholastic in the 2nd quarter worth approximately $64,000. FMR LLC grew its position in Scholastic by 58.8% during the 3rd quarter. FMR LLC now owns 2,346 shares of the company’s stock worth $75,000 after purchasing an additional 869 shares during the last quarter. Finally, Paloma Partners Management Co acquired a new position in Scholastic during the 3rd quarter valued at approximately $243,000. 82.57% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Separately, StockNews.com downgraded shares of Scholastic from a “buy” rating to a “hold” rating in a research note on Saturday, October 5th.

Scholastic Stock Performance

Shares of SCHL opened at $19.81 on Friday. The stock has a 50-day moving average of $25.61 and a two-hundred day moving average of $29.83. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.64 and a current ratio of 1.14. The stock has a market cap of $557.39 million, a P/E ratio of 35.38 and a beta of 1.07. Scholastic Co. has a one year low of $19.74 and a one year high of $40.74.

Scholastic (NASDAQ:SCHL) last issued its earnings results on Thursday, December 19th. The company reported $1.82 EPS for the quarter, missing analysts’ consensus estimates of $2.30 by ($0.48). Scholastic had a net margin of 1.49% and a return on equity of 4.32%. As a group, research analysts predict that Scholastic Co. will post 1.41 EPS for the current year.

Scholastic Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Friday, January 31st will be given a dividend of $0.20 per share. The ex-dividend date is Friday, January 31st. This represents a $0.80 dividend on an annualized basis and a yield of 4.04%. Scholastic’s dividend payout ratio is presently 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.