StockNews.com Lowers Scholastic (NASDAQ:SCHL) to Hold

StockNews.com cut shares of Scholastic (NASDAQ:SCHL) from a buy rating to a hold rating in a research note issued to investors on Friday morning.

Scholastic Trading Up 1.5 %

Shares of SCHL stock opened at $29.73 on Friday. Scholastic has a 12 month low of $28.64 and a 12 month high of $45.98. The stock has a market cap of $850.28 million, a PE ratio of 20.50 and a beta of 1.02. The company’s fifty day moving average price is $35.45 and its 200-day moving average price is $36.84.

Scholastic Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 16th. Stockholders of record on Friday, August 30th will be issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.69%. The ex-dividend date is Friday, August 30th. Scholastic’s dividend payout ratio (DPR) is presently 55.17%.

Institutional Trading of Scholastic

A number of hedge funds have recently modified their holdings of the business. GAMMA Investing LLC purchased a new position in shares of Scholastic in the 4th quarter worth about $25,000. EntryPoint Capital LLC purchased a new position in shares of Scholastic in the 1st quarter worth about $129,000. SG Americas Securities LLC raised its position in shares of Scholastic by 14.3% in the 4th quarter. SG Americas Securities LLC now owns 4,517 shares of the company’s stock worth $170,000 after purchasing an additional 566 shares during the last quarter. Quest Partners LLC purchased a new position in shares of Scholastic in the 4th quarter worth about $172,000. Finally, Allspring Global Investments Holdings LLC raised its position in shares of Scholastic by 4,475.7% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 5,079 shares of the company’s stock worth $191,000 after purchasing an additional 4,968 shares during the last quarter. 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 books, eBooks, media, and interactive products through its school book clubs and fair channels, and trade channel.