Scholastic Corporation (NASDAQ:SCHL) Shares Sold by Corton Capital Inc.

Key Points

• Corton Capital Inc. reduced its holdings in Scholastic Corporation by 66.0%, now owning 10,188 shares valued at approximately $192,000.
• Scholastic recently declared a quarterly dividend of $0.20 per share, resulting in a 3.00% yield and an annualized payout of $0.80.
• Institutional investors and hedge funds own 82.57% of Scholastic's shares, with significant increases in holdings reported by firms like JPMorgan Chase & Co. and American Century Companies Inc.

Corton Capital Inc. decreased its holdings in Scholastic Corporation (NASDAQ:SCHL - Free Report) by 66.0% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 10,188 shares of the company's stock after selling 19,774 shares during the quarter. Corton Capital Inc.'s holdings in Scholastic were worth $192,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in SCHL. Teacher Retirement System of Texas grew its position in Scholastic by 2.8% in the fourth quarter. Teacher Retirement System of Texas now owns 73,753 shares of the company's stock worth $1,573,000 after buying an additional 2,012 shares during the last quarter. American Century Companies Inc. grew its position in Scholastic by 10.4% in the fourth quarter. American Century Companies Inc. now owns 621,852 shares of the company's stock worth $13,264,000 after buying an additional 58,483 shares during the last quarter. Sei Investments Co. grew its position in Scholastic by 65.0% in the fourth quarter. Sei Investments Co. now owns 111,703 shares of the company's stock worth $2,383,000 after buying an additional 44,004 shares during the last quarter. KLP Kapitalforvaltning AS acquired a new position in Scholastic in the fourth quarter worth approximately $96,000. Finally, JPMorgan Chase & Co. grew its position in 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 in the last quarter. Institutional investors and hedge funds own 82.57% of the company's stock.

Scholastic Trading Up 23.9%

NASDAQ SCHL opened at $26.70 on Friday. Scholastic Corporation has a twelve month low of $15.77 and a twelve month high of $34.18. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.79 and a current ratio of 1.23. The stock has a market cap of $750.27 million, a price-to-earnings ratio of -667.50 and a beta of 1.08. The firm's 50 day moving average price is $19.95 and its two-hundred day moving average price is $19.36.

Scholastic (NASDAQ:SCHL - Get Free Report) last posted its quarterly earnings data on Thursday, July 24th. The company reported $0.87 earnings per share for the quarter, topping the consensus estimate of $0.85 by $0.02. Scholastic had a negative net margin of 0.12% and a positive return on equity of 1.38%. The firm had revenue of $508.30 million for the quarter, compared to analysts' expectations of $494.59 million. Equities analysts anticipate that Scholastic Corporation will post 0.84 EPS for the current year.

Scholastic Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Friday, August 29th will be given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 3.00%. The ex-dividend date of this dividend is Friday, August 29th. Scholastic's payout ratio is 133.33%.

Analysts Set New Price Targets

Separately, Wall Street Zen cut shares of Scholastic from a "buy" rating to a "hold" rating in a research report on Saturday.

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.

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