Goldman Sachs Group Inc. Sells 37,225 Shares of Scholastic Corporation $SCHL

Key Points

• Goldman Sachs Group Inc. reduced its stake in Scholastic Corporation by 16% during Q1 2023, now owning approximately 195,539 shares valued at $3.69 million.
• Scholastic reported a quarterly loss of ($2.52) EPS, missing expectations, and had revenue of $225.60 million, below the forecast of $240.41 million.
• The company declared a $0.20 quarterly dividend to be paid on December 15th, with a current annualized dividend yield of 2.9%.

Goldman Sachs Group Inc. lowered its stake in Scholastic Corporation (NASDAQ:SCHL - Free Report) by 16.0% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 195,539 shares of the company's stock after selling 37,225 shares during the period. Goldman Sachs Group Inc. owned approximately 0.70% of Scholastic worth $3,692,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position 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 buying an additional 530 shares during the last quarter. US Bancorp DE lifted its position in shares of Scholastic by 6.2% during the 1st quarter. US Bancorp DE now owns 11,137 shares of the company's stock worth $210,000 after purchasing an additional 654 shares during the last quarter. GAMMA Investing LLC lifted its position in shares of Scholastic by 182.4% during the 1st quarter. GAMMA Investing LLC now owns 1,776 shares of the company's stock worth $34,000 after purchasing an additional 1,147 shares during the last quarter. Lazard Asset Management LLC acquired a new position in shares of Scholastic during the 4th quarter worth about $33,000. Finally, Principal Financial Group Inc. lifted its position in shares of Scholastic by 2.6% during the 1st quarter. Principal Financial Group Inc. now owns 123,522 shares of the company's stock worth $2,332,000 after purchasing an additional 3,076 shares during the last quarter. Institutional investors and hedge funds own 82.57% of the company's stock.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the company. B. Riley assumed coverage on Scholastic in a research report on Wednesday, September 3rd. They set a "buy" rating and a $37.00 price objective for the company. Wall Street Zen cut Scholastic from a "buy" rating to a "hold" rating in a research report on Friday, September 5th. One analyst has rated the stock with a Buy rating, According to MarketBeat.com, the stock currently has an average rating of "Buy" and an average target price of $37.00.

Scholastic Stock Performance

SCHL traded down $3.31 on Friday, hitting $24.23. 2,114,106 shares of the stock traded hands, compared to its average volume of 266,026. Scholastic Corporation has a 52 week low of $15.77 and a 52 week high of $34.18. The company has a current ratio of 1.16, a quick ratio of 0.76 and a debt-to-equity ratio of 0.26. The firm has a market capitalization of $606.96 million, a PE ratio of -36.71 and a beta of 1.24. The business has a fifty day moving average price of $24.97 and a two-hundred day moving average price of $20.92.

Scholastic (NASDAQ:SCHL - Get Free Report) last issued its quarterly earnings results on Thursday, September 18th. The company reported ($2.52) earnings per share (EPS) for the quarter, missing the consensus estimate of ($2.44) by ($0.08). Scholastic had a negative net margin of 0.65% and a positive return on equity of 1.08%. The firm had revenue of $225.60 million for the quarter, compared to the consensus estimate of $240.41 million. During the same quarter in the prior year, the firm earned ($2.13) earnings per share. Scholastic has set its FY 2026 guidance at EPS. On average, research analysts predict that Scholastic Corporation will post 0.84 EPS for the current fiscal year.

Scholastic Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 15th. Stockholders of record on Friday, October 31st will be paid a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 3.3%. The ex-dividend date is Friday, October 31st. Scholastic's dividend payout ratio is currently -2,000.00%.

About Scholastic

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.