Victory Capital Management Inc. Buys Shares of 21,946 Scholastic Corporation (NASDAQ:SCHL)

Key Points

• Victory Capital Management Inc. has invested $414,000 in Scholastic Corporation, purchasing 21,946 shares, which represents approximately 0.08% of the company.
• Scholastic recently reported an EPS of $0.87, exceeding analysts' expectations of $0.85, and had revenue of $508.30 million for the last quarter.
• The company has announced a quarterly dividend of $0.20 per share, with a yield of 3.2%, set to be paid on September 15th to shareholders of record on August 29th.

Victory Capital Management Inc. bought 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 and Exchange Commission. The institutional investor bought 21,946 shares of the company's stock, valued at approximately $414,000. Victory Capital Management Inc. owned approximately 0.08% of Scholastic at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Sei Investments Co. grew its stake in Scholastic by 65.0% during 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 shares of Scholastic in the 4th quarter worth approximately $96,000. 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 acquiring an additional 209,524 shares during the last quarter. Norges Bank acquired a new stake in Scholastic during the 4th quarter valued at $1,295,000. Finally, O Shaughnessy Asset Management LLC raised its position in Scholastic by 9.4% in the 4th quarter. O Shaughnessy Asset Management LLC now owns 59,952 shares of the company's stock valued at $1,279,000 after purchasing an additional 5,141 shares during the last quarter. Institutional investors own 82.57% of the company's stock.

Scholastic Price Performance

SCHL traded down $0.39 during midday trading on Wednesday, hitting $24.86. The company had a trading volume of 77,957 shares, compared to its average volume of 346,685. Scholastic Corporation has a twelve month low of $15.77 and a twelve month high of $34.18. The firm's 50-day simple moving average is $21.02 and its 200-day simple moving average is $19.62. The company has a market capitalization of $622.77 million, a PE ratio of -621.30 and a beta of 1.18. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.76 and a current ratio of 1.16.

Scholastic (NASDAQ:SCHL - Get Free Report) last released its earnings results on Thursday, July 24th. The company reported $0.87 EPS for the quarter, beating the consensus estimate of $0.85 by $0.02. The company had revenue of $508.30 million during the quarter, compared to analysts' expectations of $494.59 million. Scholastic had a positive return on equity of 1.39% and a negative net margin of 0.12%. Equities research analysts predict that Scholastic Corporation will post 0.84 EPS for the current fiscal year.

Scholastic Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Friday, August 29th will be paid a $0.20 dividend. The ex-dividend date of this dividend is Friday, August 29th. This represents a $0.80 dividend on an annualized basis and a yield of 3.2%. Scholastic's dividend payout ratio (DPR) is presently -2,000.00%.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen lowered Scholastic from a "buy" rating to a "hold" rating in a research note on Saturday, July 26th.

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.