Scholastic Co. (NASDAQ:SCHL) Declares $0.20 Quarterly Dividend

Scholastic Co. (NASDAQ:SCHLGet Rating) announced a quarterly dividend on Thursday, September 22nd, Wall Street Journal reports. Stockholders of record on Monday, October 31st will be paid a dividend of 0.20 per share on Thursday, December 15th. This represents a $0.80 annualized dividend and a dividend yield of 1.98%. The ex-dividend date of this dividend is Friday, October 28th.

Scholastic Trading Down 3.4 %

Shares of NASDAQ:SCHL traded down $1.43 on Thursday, reaching $40.34. 295,516 shares of the company were exchanged, compared to its average volume of 147,670. Scholastic has a 1-year low of $32.68 and a 1-year high of $48.28. The firm has a market cap of $1.39 billion, a price-to-earnings ratio of 18.45 and a beta of 0.88. The company has a 50-day moving average of $44.29 and a 200-day moving average of $39.86.

Insiders Place Their Bets

In related news, insider Sasha Quinton sold 7,204 shares of the business’s stock in a transaction that occurred on Monday, August 15th. The shares were sold at an average price of $47.30, for a total value of $340,749.20. Following the sale, the insider now directly owns 26,026 shares in the company, valued at approximately $1,231,029.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 16.67% of the stock is owned by insiders.

Institutional Trading of Scholastic

Hedge funds have recently made changes to their positions in the stock. Goldman Sachs Group Inc. raised its holdings in Scholastic by 84.0% in the 2nd quarter. Goldman Sachs Group Inc. now owns 213,682 shares of the company’s stock worth $7,686,000 after acquiring an additional 97,540 shares during the period. Invesco Ltd. boosted its position in shares of Scholastic by 36.7% in the first quarter. Invesco Ltd. now owns 352,310 shares of the company’s stock valued at $14,191,000 after acquiring an additional 94,623 shares during the period. FMR LLC grew its stake in shares of Scholastic by 12.2% in the second quarter. FMR LLC now owns 541,063 shares of the company’s stock worth $19,463,000 after acquiring an additional 58,879 shares during the last quarter. State Street Corp increased its position in Scholastic by 3.6% during the second quarter. State Street Corp now owns 1,059,880 shares of the company’s stock worth $38,124,000 after acquiring an additional 37,032 shares during the period. Finally, Vanguard Group Inc. raised its stake in Scholastic by 1.5% during the 1st quarter. Vanguard Group Inc. now owns 2,476,435 shares of the company’s stock valued at $99,751,000 after purchasing an additional 36,427 shares during the last quarter. 81.48% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on SCHL. TheStreet upgraded Scholastic from a “c” rating to a “b” rating in a report on Thursday, July 21st. raised Scholastic from a “buy” rating to a “strong-buy” rating in a research report on Monday, July 25th.

Scholastic Company Profile

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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 publishes and distributes children's books, e-books, media, and interactive products through its school book club and fair channels, as well as trade channels.

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Dividend History for Scholastic (NASDAQ:SCHL)

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