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

Bank of America Corp DE cut its position in Scholastic Co. (NASDAQ:SCHL - Free Report) by 69.7% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). 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 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently made changes to their positions in SCHL. JPMorgan Chase & Co. boosted its holdings in shares of Scholastic by 248.8% during the 4th quarter. JPMorgan Chase & Co. now owns 293,754 shares of the company's stock worth $6,266,000 after purchasing an additional 209,524 shares during the last quarter. Principal Financial Group Inc. raised its position in shares of Scholastic by 2.5% during the 4th quarter. Principal Financial Group Inc. now owns 120,446 shares of the company's stock valued at $2,569,000 after buying an additional 2,882 shares during the period. Charles Schwab Investment Management Inc. raised its position in shares of Scholastic by 13.1% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 568,206 shares of the company's stock valued at $12,120,000 after buying an additional 66,027 shares during the period. Rhumbline Advisers lifted its holdings in Scholastic by 1.1% in the fourth quarter. Rhumbline Advisers now owns 81,637 shares of the company's stock valued at $1,741,000 after acquiring an additional 860 shares during the last quarter. Finally, Brandes Investment Partners LP grew its position in Scholastic by 288.5% in the fourth quarter. Brandes Investment Partners LP now owns 35,162 shares of the company's stock worth $750,000 after acquiring an additional 26,111 shares during the period. 82.57% of the stock is owned by institutional investors and hedge funds.

Scholastic Trading Down 1.0%

SCHL stock traded down $0.19 during midday trading on Friday, hitting $18.06. 221,426 shares of the company's stock were exchanged, compared to its average volume of 284,499. Scholastic Co. has a 1-year low of $15.77 and a 1-year high of $38.77. The company has a current ratio of 1.24, a quick ratio of 0.81 and a debt-to-equity ratio of 0.25. The stock has a market capitalization of $507.50 million, a PE ratio of -100.33 and a beta of 1.06. The business has a 50-day simple moving average of $17.58 and a two-hundred day simple moving average of $20.18.

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

Scholastic Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Wednesday, April 30th will be paid a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 4.43%. The ex-dividend date of this dividend is Wednesday, April 30th. Scholastic's dividend payout ratio (DPR) is 133.33%.

Scholastic 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.