Scholastic Corporation $SCHL Shares Acquired by LSV Asset Management

LSV Asset Management grew its stake in shares of Scholastic Corporation (NASDAQ:SCHL) by 71.8% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 46,384 shares of the company’s stock after purchasing an additional 19,384 shares during the quarter. LSV Asset Management’s holdings in Scholastic were worth $1,270,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of SCHL. Tower Research Capital LLC TRC grew its position in Scholastic by 458.1% during the 2nd quarter. Tower Research Capital LLC TRC now owns 3,159 shares of the company’s stock worth $66,000 after purchasing an additional 2,593 shares during the last quarter. GAMMA Investing LLC lifted its stake in shares of Scholastic by 63.1% during the third quarter. GAMMA Investing LLC now owns 2,540 shares of the company’s stock worth $70,000 after buying an additional 983 shares during the period. State of Wyoming purchased a new stake in shares of Scholastic during the third quarter valued at $137,000. CWM LLC grew its holdings in shares of Scholastic by 152.9% during the second quarter. CWM LLC now owns 10,607 shares of the company’s stock valued at $223,000 after buying an additional 6,413 shares during the last quarter. Finally, New York State Common Retirement Fund increased its position in shares of Scholastic by 86.3% in the 3rd quarter. New York State Common Retirement Fund now owns 8,417 shares of the company’s stock valued at $230,000 after acquiring an additional 3,900 shares during the period. 82.57% of the stock is owned by hedge funds and other institutional investors.

Scholastic Stock Up 1.2%

Shares of SCHL opened at $34.09 on Tuesday. The company has a market capitalization of $867.25 million, a price-to-earnings ratio of -170.45 and a beta of 1.19. Scholastic Corporation has a 52 week low of $15.77 and a 52 week high of $35.98. The stock’s 50-day moving average price is $32.14 and its 200-day moving average price is $29.04. The company has a quick ratio of 1.24, a current ratio of 1.67 and a debt-to-equity ratio of 0.30.

Scholastic (NASDAQ:SCHL) last announced its quarterly earnings results on Thursday, December 18th. The company reported $2.17 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.07 by $0.10. Scholastic had a positive return on equity of 2.66% and a negative net margin of 0.21%.The company had revenue of $551.10 million during the quarter, compared to the consensus estimate of $556.72 million. During the same period in the previous year, the company posted $1.82 earnings per share. On average, sell-side analysts predict that Scholastic Corporation will post 0.84 EPS for the current year.

Scholastic Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, March 16th. Investors of record on Friday, January 30th will be issued a dividend of $0.20 per share. The ex-dividend date of this dividend is Friday, January 30th. This represents a $0.80 dividend on an annualized basis and a yield of 2.3%. Scholastic’s dividend payout ratio is -400.00%.

Analysts Set New Price Targets

Several analysts have weighed in on the company. Weiss Ratings upgraded Scholastic from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Friday, January 30th. Zacks Research raised Scholastic from a “hold” rating to a “strong-buy” rating in a report on Wednesday, February 4th. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of $37.00.

About Scholastic

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.