Segall Bryant & Hamill LLC Makes New Investment in Scholastic Corporation $SCHL

Key Points

• Segall Bryant & Hamill LLC acquired 34,619 Scholastic shares worth approximately $1.35 million, while institutional investors collectively owned 82.57% of the company.
• Scholastic beat quarterly EPS expectations, reporting $2.19 versus the $2.16 consensus, but revenue of $476.1 million fell short of the $517.06 million estimate.
• The company raised its quarterly dividend to $0.25 per share from $0.20, implying a $1.00 annual payout and a 2.4% yield. Analysts remain cautious, with an average “Reduce” rating and a $42 consensus price target.

Segall Bryant & Hamill LLC acquired a new position in Scholastic Corporation (NASDAQ:SCHL - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 34,619 shares of the company's stock, valued at approximately $1,352,000. Segall Bryant & Hamill LLC owned approximately 0.16% of Scholastic at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of Scholastic by 4.8% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 13,851 shares of the company's stock worth $262,000 after acquiring an additional 630 shares during the period. Quantinno Capital Management LP boosted its stake in Scholastic by 3.2% in the 1st quarter. Quantinno Capital Management LP now owns 23,186 shares of the company's stock worth $906,000 after purchasing an additional 729 shares during the period. Deutsche Bank AG raised its position in shares of Scholastic by 4.1% during the fourth quarter. Deutsche Bank AG now owns 20,829 shares of the company's stock valued at $617,000 after buying an additional 824 shares during the last quarter. SG Americas Securities LLC lifted its holdings in shares of Scholastic by 8.3% in the fourth quarter. SG Americas Securities LLC now owns 15,690 shares of the company's stock worth $465,000 after buying an additional 1,201 shares in the last quarter. Finally, Public Sector Pension Investment Board grew its stake in Scholastic by 1.9% during the second quarter. Public Sector Pension Investment Board now owns 80,195 shares of the company's stock valued at $1,682,000 after acquiring an additional 1,509 shares in the last quarter. Institutional investors own 82.57% of the company's stock.

Scholastic Price Performance

SCHL opened at $42.48 on Thursday. The company has a current ratio of 1.23, a quick ratio of 0.78 and a debt-to-equity ratio of 0.10. The business's fifty day simple moving average is $43.98 and its 200-day simple moving average is $39.44. The company has a market capitalization of $801.17 million, a price-to-earnings ratio of 18.15, a PEG ratio of 2.09 and a beta of 1.01. Scholastic Corporation has a 12-month low of $22.68 and a 12-month high of $48.07.

Scholastic (NASDAQ:SCHL - Get Free Report) last posted its earnings results on Thursday, July 23rd. The company reported $2.19 EPS for the quarter, beating analysts' consensus estimates of $2.16 by $0.03. The business had revenue of $476.10 million for the quarter, compared to the consensus estimate of $517.06 million. Scholastic had a net margin of 3.58% and a return on equity of 5.29%. During the same quarter last year, the firm posted $0.59 EPS. On average, equities research analysts anticipate that Scholastic Corporation will post 1.6 earnings per share for the current fiscal year.

Scholastic Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Investors of record on Monday, August 31st will be paid a dividend of $0.25 per share. This is a boost from Scholastic's previous quarterly dividend of $0.20. The ex-dividend date is Monday, August 31st. This represents a $1.00 annualized dividend and a dividend yield of 2.4%. Scholastic's dividend payout ratio (DPR) is presently 34.19%.

Wall Street Analyst Weigh In

SCHL has been the subject of a number of research reports. B. Riley Financial increased their price target on Scholastic from $40.00 to $42.00 and gave the company a "neutral" rating in a research note on Wednesday, July 8th. Weiss Ratings lowered Scholastic from a "hold (c+)" rating to a "hold (c)" rating in a research report on Tuesday, July 28th. Wall Street Zen downgraded Scholastic from a "buy" rating to a "hold" rating in a research report on Saturday, April 25th. Finally, Zacks Research cut shares of Scholastic from a "hold" rating to a "strong sell" rating in a research note on Monday, July 27th. Two equities research analysts have rated the stock with a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Scholastic presently has an average rating of "Reduce" and a consensus target price of $42.00.

Scholastic Profile

Scholastic Corporation NASDAQ: SCHL is a global company dedicated to children's publishing, education technology and distribution services. The company's core business encompasses three primary segments: Children's Book Publishing and Distribution, Education Technology, and International operations. Through its publishing arm, Scholastic produces and distributes a wide range of children's books, novels, nonfiction titles and classroom magazines under well-known imprints such as Scholastic Press, Graphix and Chicken House.

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