Bank of America Corp DE Reduces Stake in Scholastic Co. (NASDAQ:SCHL)

Bank of America Corp DE lessened its position in shares of Scholastic Co. (NASDAQ:SCHL - Free Report) by 69.7% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 79,983 shares of the company's stock after selling 183,902 shares during the period. Bank of America Corp DE owned 0.28% of Scholastic worth $1,706,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the company. KBC Group NV increased its stake in Scholastic by 125.4% in the fourth quarter. KBC Group NV now owns 2,443 shares of the company's stock valued at $52,000 after purchasing an additional 1,359 shares in the last quarter. KLP Kapitalforvaltning AS bought a new stake in Scholastic in the fourth quarter valued at $96,000. Sterling Capital Management LLC increased its stake in Scholastic by 7.5% in the fourth quarter. Sterling Capital Management LLC now owns 9,444 shares of the company's stock valued at $201,000 after purchasing an additional 662 shares in the last quarter. Y Intercept Hong Kong Ltd increased its stake in Scholastic by 127.7% in the fourth quarter. Y Intercept Hong Kong Ltd now owns 14,762 shares of the company's stock valued at $315,000 after purchasing an additional 8,278 shares in the last quarter. Finally, State of Tennessee Department of Treasury increased its stake in Scholastic by 13.1% in the fourth quarter. State of Tennessee Department of Treasury now owns 16,384 shares of the company's stock valued at $349,000 after purchasing an additional 1,902 shares in the last quarter. Institutional investors own 82.57% of the company's stock.

Scholastic Stock Down 1.0%

SCHL traded down $0.19 during midday trading on Friday, hitting $18.06. The company had a trading volume of 221,426 shares, compared to its average volume of 285,920. Scholastic Co. has a 52 week low of $15.77 and a 52 week high of $38.77. The company has a quick ratio of 0.81, a current ratio of 1.24 and a debt-to-equity ratio of 0.25. The company has a market capitalization of $507.50 million, a price-to-earnings ratio of -100.33 and a beta of 1.03. The stock's 50 day moving average price is $17.56 and its 200 day moving average price is $20.06.

Scholastic (NASDAQ:SCHL - Get Free Report) last posted its earnings results on Thursday, March 20th. The company reported ($0.05) EPS for the quarter, topping the consensus estimate of ($0.78) by $0.73. The company had revenue of $335.40 million during the quarter, compared to the consensus estimate of $347.68 million. Scholastic had a negative net margin of 0.27% and a positive return on equity of 1.91%. On average, research analysts anticipate that Scholastic Co. will post 0.84 earnings per share for the current fiscal year.

Scholastic Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Wednesday, April 30th will be given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 4.43%. The ex-dividend date is Wednesday, April 30th. Scholastic's payout ratio is presently 133.33%.

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.