State of Tennessee Treasury Department Buys 7,835 Shares of Scholastic Corp (NASDAQ:SCHL)

State of Tennessee Treasury Department boosted its stake in Scholastic Corp (NASDAQ:SCHL) by 48.4% in the third quarter, HoldingsChannel reports. The firm owned 24,022 shares of the company’s stock after acquiring an additional 7,835 shares during the period. State of Tennessee Treasury Department’s holdings in Scholastic were worth $907,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Tower Research Capital LLC TRC grew its stake in Scholastic by 764.8% in the second quarter. Tower Research Capital LLC TRC now owns 1,522 shares of the company’s stock valued at $51,000 after acquiring an additional 1,346 shares during the period. Pathstone Family Office LLC grew its stake in Scholastic by 6,457.4% in the second quarter. Pathstone Family Office LLC now owns 4,000 shares of the company’s stock valued at $133,000 after acquiring an additional 3,939 shares during the period. Jefferies Group LLC acquired a new position in Scholastic in the second quarter valued at about $229,000. WINTON GROUP Ltd acquired a new position in Scholastic in the second quarter valued at about $248,000. Finally, Bank of Montreal Can grew its stake in Scholastic by 43.8% in the second quarter. Bank of Montreal Can now owns 8,455 shares of the company’s stock valued at $281,000 after acquiring an additional 2,577 shares during the period. Institutional investors and hedge funds own 79.81% of the company’s stock.

SCHL stock opened at $37.29 on Thursday. The company has a debt-to-equity ratio of 0.05, a current ratio of 1.50 and a quick ratio of 0.86. The stock has a market capitalization of $1.32 billion, a P/E ratio of 28.80 and a beta of 0.82. The business has a 50-day moving average of $37.63 and a 200-day moving average of $35.95. Scholastic Corp has a fifty-two week low of $31.38 and a fifty-two week high of $46.99.

Scholastic (NASDAQ:SCHL) last posted its quarterly earnings data on Thursday, September 19th. The company reported ($1.59) earnings per share for the quarter, topping the consensus estimate of ($1.80) by $0.21. The company had revenue of $232.60 million during the quarter, compared to analysts’ expectations of $217.60 million. Scholastic had a return on equity of 3.93% and a net margin of 1.10%. Scholastic’s revenue for the quarter was up 6.5% compared to the same quarter last year. During the same period in the prior year, the firm earned ($1.74) earnings per share. Equities analysts expect that Scholastic Corp will post 1.2 EPS for the current year.

The company also recently disclosed a — dividend, which will be paid on Monday, December 16th. Stockholders of record on Thursday, October 31st will be given a dividend of $0.15 per share. The ex-dividend date is Wednesday, October 30th. This represents a dividend yield of 1.6%. Scholastic’s dividend payout ratio is currently 55.56%.

A number of research analysts have issued reports on the company. Zacks Investment Research cut Scholastic from a “strong-buy” rating to a “sell” rating in a research note on Saturday, September 28th. ValuEngine cut Scholastic from a “buy” rating to a “hold” rating in a research note on Friday, November 1st. Finally, BidaskClub cut Scholastic from a “hold” rating to a “sell” rating in a research note on Tuesday.

Scholastic Company Profile

Scholastic Corporation publishes and distributes children's books worldwide. It operates in three segments: Children's Book Publishing and Distribution, Education, and International. The Children's Book Publishing and Distribution segment publishes and distributes children's books, e-books, media, and interactive products through its school book club and school book fair channels, as well as through its trade channel.

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Institutional Ownership by Quarter for Scholastic (NASDAQ:SCHL)

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