Scholastic Corporation (NASDAQ:SCHL) to Issue Quarterly Dividend of $0.20

Key Points

• Scholastic Corporation announced a quarterly dividend of $0.20 per share, payable on December 15, 2023, to shareholders of record as of October 31, 2023, reflecting an annualized yield of 2.9%.
• The company reported earnings of $0.87 per share for the last quarter, exceeding analyst expectations, with revenue of $508.30 million surpassing estimates.
• Institutional investors hold a significant portion of Scholastic's stock, with 82.57% owned by hedge funds and other large investors who have recently increased their stakes in the company.

Scholastic Corporation (NASDAQ:SCHL - Get Free Report) announced a quarterly dividend on Wednesday, September 17th, RTT News reports. Shareholders of record on Friday, October 31st will be paid a dividend of 0.20 per share on Monday, December 15th. This represents a c) annualized dividend and a yield of 2.9%.

Scholastic Price Performance

NASDAQ:SCHL traded up $0.23 during mid-day trading on Wednesday, hitting $27.21. 365,346 shares of the stock traded hands, compared to its average volume of 233,248. The company has a quick ratio of 0.76, a current ratio of 1.16 and a debt-to-equity ratio of 0.26. Scholastic has a 12-month low of $15.77 and a 12-month high of $34.18. The company has a market cap of $681.61 million, a PE ratio of -680.25 and a beta of 1.24. The business's 50-day moving average price is $24.81 and its 200 day moving average price is $20.86.

Scholastic (NASDAQ:SCHL - Get Free Report) last announced its quarterly earnings data on Thursday, July 24th. The company reported $0.87 earnings per share for the quarter, topping analysts' consensus estimates of $0.85 by $0.02. Scholastic had a negative net margin of 0.12% and a positive return on equity of 1.39%. The firm had revenue of $508.30 million during the quarter, compared to analyst estimates of $494.59 million. Scholastic has set its FY 2026 guidance at EPS. On average, analysts expect that Scholastic will post 0.84 EPS for the current fiscal year.

Institutional Investors Weigh In On Scholastic

Several large investors have recently modified their holdings of the stock. Ananym Capital Management LP acquired a new stake in Scholastic in the first quarter valued at $23,600,000. American Century Companies Inc. boosted its holdings in Scholastic by 2.8% in the 2nd quarter. American Century Companies Inc. now owns 694,808 shares of the company's stock worth $14,577,000 after acquiring an additional 19,225 shares during the period. Charles Schwab Investment Management Inc. raised its position in shares of Scholastic by 12.3% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 637,928 shares of the company's stock valued at $12,044,000 after purchasing an additional 69,722 shares in the last quarter. Jones Financial Companies Lllp grew its position in shares of Scholastic by 245,664.0% during the first quarter. Jones Financial Companies Lllp now owns 518,562 shares of the company's stock worth $9,790,000 after buying an additional 518,351 shares in the last quarter. Finally, Bragg Financial Advisors Inc grew its position in shares of Scholastic by 40.6% during the first quarter. Bragg Financial Advisors Inc now owns 452,413 shares of the company's stock worth $8,542,000 after acquiring an additional 130,572 shares during the last quarter. Hedge funds and other institutional investors own 82.57% of the company's stock.

About Scholastic

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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