Scholastic Co. (NASDAQ:SCHL) CEO Richard Robinson sold 33,000 shares of Scholastic stock in a transaction that occurred on Monday, April 16th. The shares were sold at an average price of $40.31, for a total value of $1,330,230.00. Following the transaction, the chief executive officer now directly owns 4,371,728 shares in the company, valued at approximately $176,224,355.68. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.
Richard Robinson also recently made the following trade(s):
- On Thursday, April 12th, Richard Robinson sold 83,860 shares of Scholastic stock. The shares were sold at an average price of $39.61, for a total value of $3,321,694.60.
- On Monday, April 9th, Richard Robinson sold 37,077 shares of Scholastic stock. The shares were sold at an average price of $38.63, for a total value of $1,432,284.51.
- On Thursday, April 5th, Richard Robinson sold 41,745 shares of Scholastic stock. The shares were sold at an average price of $38.48, for a total value of $1,606,347.60.
- On Tuesday, April 3rd, Richard Robinson sold 8,769 shares of Scholastic stock. The shares were sold at an average price of $38.46, for a total value of $337,255.74.
- On Thursday, March 29th, Richard Robinson sold 1,200 shares of Scholastic stock. The shares were sold at an average price of $39.23, for a total value of $47,076.00.
Shares of Scholastic stock opened at $41.63 on Thursday. The firm has a market cap of $1,415.76, a P/E ratio of 22.75 and a beta of 0.76. Scholastic Co. has a 12 month low of $33.51 and a 12 month high of $46.59.
Scholastic (NASDAQ:SCHL) last issued its quarterly earnings results on Wednesday, March 21st. The company reported ($0.30) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.35) by $0.05. The business had revenue of $344.70 million for the quarter, compared to analyst estimates of $350.10 million. Scholastic had a positive return on equity of 3.58% and a negative net margin of 1.00%. Scholastic’s quarterly revenue was up 2.5% compared to the same quarter last year. During the same period last year, the company posted ($0.36) earnings per share. analysts anticipate that Scholastic Co. will post 1.45 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, June 15th. Investors of record on Monday, April 30th will be issued a dividend of $0.15 per share. The ex-dividend date is Friday, April 27th. This represents a $0.60 dividend on an annualized basis and a yield of 1.44%. Scholastic’s dividend payout ratio (DPR) is currently 32.79%.
Scholastic announced that its Board of Directors has approved a share buyback program on Wednesday, March 21st that allows the company to buyback $50.00 million in outstanding shares. This buyback authorization allows the company to repurchase shares of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s management believes its stock is undervalued.
Several brokerages recently issued reports on SCHL. BidaskClub raised Scholastic from a “sell” rating to a “hold” rating in a research report on Tuesday, April 3rd. Zacks Investment Research cut Scholastic from a “strong-buy” rating to a “hold” rating in a research report on Thursday, April 5th. Gabelli reaffirmed a “buy” rating on shares of Scholastic in a research report on Friday, March 23rd. Finally, TheStreet cut Scholastic from a “b-” rating to a “c” rating in a research report on Monday, January 22nd. Three equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $41.00.
A number of institutional investors have recently modified their holdings of the stock. BlackRock Inc. lifted its holdings in Scholastic by 2.3% during the fourth quarter. BlackRock Inc. now owns 3,585,366 shares of the company’s stock worth $143,809,000 after acquiring an additional 80,853 shares during the period. Dimensional Fund Advisors LP lifted its holdings in Scholastic by 0.7% during the third quarter. Dimensional Fund Advisors LP now owns 2,806,160 shares of the company’s stock worth $104,389,000 after acquiring an additional 19,627 shares during the period. Alliancebernstein L.P. lifted its holdings in Scholastic by 1.9% during the fourth quarter. Alliancebernstein L.P. now owns 1,983,802 shares of the company’s stock worth $79,570,000 after acquiring an additional 37,031 shares during the period. Zuckerman Investment Group LLC lifted its holdings in Scholastic by 2.8% during the fourth quarter. Zuckerman Investment Group LLC now owns 649,309 shares of the company’s stock worth $26,044,000 after acquiring an additional 17,396 shares during the period. Finally, Neuberger Berman Group LLC lifted its holdings in Scholastic by 28.3% during the third quarter. Neuberger Berman Group LLC now owns 489,971 shares of the company’s stock worth $18,227,000 after acquiring an additional 108,156 shares during the period. Institutional investors and hedge funds own 83.86% of the company’s stock.
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Scholastic Corporation, together with its subsidiaries, publishes and distributes children's books worldwide. It operates through three segments: Children's Book Publishing and Distribution, Education, and International. The Children's Book Publishing and Distribution segment engages in the publication and distribution of children's books, e-books, media, and interactive products through its school book clubs and book fairs, and trade channel.
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