Cornercap Investment Counsel Inc. Takes Position in Scholastic Co. (NASDAQ:SCHL)

Cornercap Investment Counsel Inc. acquired a new stake in shares of Scholastic Co. (NASDAQ:SCHL - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 25,833 shares of the company's stock, valued at approximately $974,000. Cornercap Investment Counsel Inc. owned approximately 0.09% of Scholastic as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the stock. Bank of Montreal Can boosted its position in shares of Scholastic by 2.6% during the first quarter. Bank of Montreal Can now owns 14,576 shares of the company's stock valued at $610,000 after buying an additional 363 shares during the last quarter. California State Teachers Retirement System boosted its position in shares of Scholastic by 1.0% during the third quarter. California State Teachers Retirement System now owns 37,129 shares of the company's stock valued at $1,142,000 after buying an additional 374 shares during the last quarter. New York State Common Retirement Fund boosted its position in shares of Scholastic by 1.1% during the first quarter. New York State Common Retirement Fund now owns 33,683 shares of the company's stock valued at $1,153,000 after buying an additional 374 shares during the last quarter. PNC Financial Services Group Inc. boosted its position in Scholastic by 19.3% in the second quarter. PNC Financial Services Group Inc. now owns 2,741 shares of the company's stock worth $107,000 after purchasing an additional 444 shares during the last quarter. Finally, Mercer Global Advisors Inc. ADV boosted its position in Scholastic by 6.7% in the first quarter. Mercer Global Advisors Inc. ADV now owns 7,181 shares of the company's stock worth $246,000 after purchasing an additional 451 shares during the last quarter. Hedge funds and other institutional investors own 82.57% of the company's stock.

Wall Street Analyst Weigh In

Separately, StockNews.com raised Scholastic from a "hold" rating to a "buy" rating in a research report on Friday, March 22nd.

Scholastic Stock Down 0.2 %

Shares of NASDAQ:SCHL traded down $0.07 during midday trading on Tuesday, reaching $35.16. 106,726 shares of the company traded hands, compared to its average volume of 259,694. Scholastic Co. has a 12 month low of $32.50 and a 12 month high of $45.98. The firm has a market capitalization of $1.01 billion, a price-to-earnings ratio of 24.25 and a beta of 1.05. The firm's fifty day moving average price is $37.90 and its two-hundred day moving average price is $38.12.

Scholastic (NASDAQ:SCHL - Get Free Report) last released its quarterly earnings data on Thursday, March 21st. The company reported ($0.80) earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of ($0.80). Scholastic had a return on equity of 5.57% and a net margin of 3.16%. The company had revenue of $323.70 million for the quarter, compared to analyst estimates of $329.21 million. During the same period in the previous year, the company posted ($0.57) EPS. Analysts forecast that Scholastic Co. will post 2.01 earnings per share for the current year.

Scholastic Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 17th. Shareholders of record on Tuesday, April 30th will be paid a $0.20 dividend. The ex-dividend date is Monday, April 29th. This represents a $0.80 dividend on an annualized basis and a yield of 2.28%. Scholastic's dividend payout ratio is currently 55.17%.

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 books, eBooks, media, and interactive products through its school book clubs and fair channels, and trade channel.