Allianz Asset Management GmbH Purchases 45,253 Shares of Scholastic Corporation (NASDAQ:SCHL)

Key Points

• Allianz Asset Management GmbH increased its stake in Scholastic Corporation by 21.6% during the first quarter, owning approximately 0.91% of the company, valued at $4.8 million.
• Scholastic announced a quarterly dividend of $0.20 per share, with a yield of 3.05%, payable on September 15th to investors of record.
• Wall Street analysts downgraded Scholastic's shares from a "buy" to a "hold" rating in a recent report.

Allianz Asset Management GmbH raised its position in shares of Scholastic Corporation (NASDAQ:SCHL - Free Report) by 21.6% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 254,340 shares of the company's stock after purchasing an additional 45,253 shares during the quarter. Allianz Asset Management GmbH owned 0.91% of Scholastic worth $4,802,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of Scholastic by 4.2% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 13,221 shares of the company's stock worth $282,000 after acquiring an additional 530 shares during the last quarter. Sterling Capital Management LLC increased its stake in shares of Scholastic by 7.5% in the fourth quarter. Sterling Capital Management LLC now owns 9,444 shares of the company's stock worth $201,000 after acquiring an additional 662 shares during the last quarter. GAMMA Investing LLC increased its stake in shares of Scholastic by 182.4% in the first quarter. GAMMA Investing LLC now owns 1,776 shares of the company's stock worth $34,000 after acquiring an additional 1,147 shares during the last quarter. Lazard Asset Management LLC acquired a new position in shares of Scholastic in the fourth quarter worth $33,000. Finally, BOKF NA increased its stake in shares of Scholastic by 17.7% in the fourth quarter. BOKF NA now owns 10,987 shares of the company's stock worth $234,000 after acquiring an additional 1,656 shares during the last quarter. 82.57% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Separately, Wall Street Zen downgraded shares of Scholastic from a "buy" rating to a "hold" rating in a research note on Saturday, July 26th.

Scholastic Stock Up 0.5%

Shares of NASDAQ SCHL traded up $0.12 during mid-day trading on Friday, reaching $24.79. The company had a trading volume of 172,507 shares, compared to its average volume of 347,385. The stock has a market capitalization of $696.46 million, a PE ratio of -617.50 and a beta of 1.08. Scholastic Corporation has a twelve month low of $15.77 and a twelve month high of $34.18. The stock's 50 day moving average is $20.54 and its 200-day moving average is $19.52. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.79 and a current ratio of 1.16.

Scholastic (NASDAQ:SCHL - Get Free Report) last issued its quarterly earnings data on Thursday, July 24th. The company reported $0.87 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.85 by $0.02. The firm had revenue of $508.30 million during the quarter, compared to analysts' expectations of $494.59 million. Scholastic had a negative net margin of 0.12% and a positive return on equity of 1.39%. As a group, equities analysts anticipate that Scholastic Corporation will post 0.84 earnings per share for the current fiscal year.

Scholastic Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Friday, August 29th will be issued a $0.20 dividend. The ex-dividend date is Friday, August 29th. This represents a $0.80 dividend on an annualized basis and a yield of 3.2%. Scholastic's dividend payout ratio is currently -2,000.00%.

Scholastic Company 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.