Scholastic Co. (NASDAQ:SCHL) Stake Lessened by Millennium Management LLC

Millennium Management LLC trimmed its position in shares of Scholastic Co. (NASDAQ:SCHL - Free Report) by 74.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 38,980 shares of the company's stock after selling 115,923 shares during the period. Millennium Management LLC owned approximately 0.14% of Scholastic worth $831,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. J. Goldman & Co LP purchased a new position in Scholastic in the fourth quarter valued at about $18,892,000. American Century Companies Inc. grew its stake in shares of Scholastic by 10.4% in the fourth quarter. American Century Companies Inc. now owns 621,852 shares of the company's stock valued at $13,264,000 after buying an additional 58,483 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of Scholastic by 13.1% in the fourth 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 in the last quarter. Azarias Capital Management L.P. raised its holdings in shares of Scholastic by 71.8% during the 4th quarter. Azarias Capital Management L.P. now owns 467,783 shares of the company's stock valued at $9,978,000 after buying an additional 195,507 shares during the period. Finally, D. E. Shaw & Co. Inc. lifted its position in Scholastic by 24.6% during the 4th quarter. D. E. Shaw & Co. Inc. now owns 434,357 shares of the company's stock worth $9,265,000 after acquiring an additional 85,882 shares in the last quarter. 82.57% of the stock is currently owned by institutional investors and hedge funds.

Scholastic Stock Down 1.0%

NASDAQ SCHL traded down $0.20 on Tuesday, reaching $19.08. The company had a trading volume of 224,299 shares, compared to its average volume of 287,362. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.24 and a quick ratio of 0.81. Scholastic Co. has a 1 year low of $15.77 and a 1 year high of $38.77. The firm has a 50-day moving average of $17.59 and a 200-day moving average of $20.01. The firm has a market capitalization of $536.17 million, a PE ratio of -105.99 and a beta of 1.03.

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

Scholastic Announces Dividend

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 dividend on an annualized basis and a dividend yield of 4.19%. The ex-dividend date of this dividend is Wednesday, April 30th. Scholastic's payout ratio is 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.