Virginia Retirement Systems ET AL Bought 13,400 Shares of Scholastic Corp (NASDAQ:SCHL)

Virginia Retirement Systems ET AL Bought 13,400 Shares of Scholastic Corp (NASDAQ:SCHL)

Virginia Retirement Systems ET AL raised its position in Scholastic Corp (NASDAQ:SCHL) by 45.3% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 43,000 shares of the company’s stock after purchasing an additional 13,400 shares during the period. Virginia Retirement Systems ET AL owned 0.12% of Scholastic worth $2,008,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently made changes to their positions in the business. BlackRock Inc. increased its position in shares of Scholastic by 4.9% in the 2nd quarter. BlackRock Inc. now owns 3,804,084 shares of the company’s stock valued at $168,558,000 after purchasing an additional 178,814 shares during the last quarter. Northern Trust Corp grew its position in shares of Scholastic by 0.5% in the 2nd quarter. Northern Trust Corp now owns 1,232,578 shares of the company’s stock valued at $54,615,000 after buying an additional 6,243 shares during the last quarter. Acadian Asset Management LLC grew its position in shares of Scholastic by 19.7% in the 3rd quarter. Acadian Asset Management LLC now owns 532,032 shares of the company’s stock valued at $24,839,000 after buying an additional 87,388 shares during the last quarter. Granite Investment Partners LLC grew its position in shares of Scholastic by 1.1% in the 2nd quarter. Granite Investment Partners LLC now owns 317,838 shares of the company’s stock valued at $14,083,000 after buying an additional 3,421 shares during the last quarter. Finally, Schwab Charles Investment Management Inc. grew its position in shares of Scholastic by 7.6% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 302,984 shares of the company’s stock valued at $13,426,000 after buying an additional 21,326 shares during the last quarter. 80.71% of the stock is currently owned by institutional investors.

In other news, CEO Richard Robinson sold 2,000 shares of the firm’s stock in a transaction on Monday, October 1st. The shares were sold at an average price of $45.76, for a total value of $91,520.00. Following the completion of the sale, the chief executive officer now owns 4,377,480 shares in the company, valued at approximately $200,313,484.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Alan J. Boyko sold 12,953 shares of the firm’s stock in a transaction on Thursday, September 27th. The stock was sold at an average price of $45.07, for a total transaction of $583,791.71. Following the completion of the sale, the insider now owns 55,545 shares of the company’s stock, valued at approximately $2,503,413.15. The disclosure for this sale can be found here. Insiders have sold a total of 24,294 shares of company stock worth $1,095,821 over the last three months. 21.79% of the stock is currently owned by insiders.

A number of research analysts recently commented on SCHL shares. BidaskClub raised shares of Scholastic from a “hold” rating to a “buy” rating in a research report on Tuesday, September 11th. Stifel Nicolaus increased their target price on shares of Scholastic from $43.00 to $44.00 and gave the company a “hold” rating in a research report on Friday, September 28th. Zacks Investment Research downgraded shares of Scholastic from a “hold” rating to a “sell” rating in a research report on Saturday, September 15th. TheStreet downgraded shares of Scholastic from a “b-” rating to a “c” rating in a research report on Monday, September 17th. Finally, UBS Group reaffirmed a “sell” rating on shares of Scholastic in a research report on Tuesday, August 21st. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the stock. Scholastic currently has an average rating of “Hold” and a consensus target price of $49.00.

Scholastic stock traded down $2.61 during midday trading on Wednesday, hitting $43.82. 175,760 shares of the company’s stock were exchanged, compared to its average volume of 108,190. Scholastic Corp has a 12-month low of $33.85 and a 12-month high of $47.94. The company has a market capitalization of $1.62 billion, a P/E ratio of 30.64 and a beta of 0.74.

Scholastic (NASDAQ:SCHL) last issued its quarterly earnings data on Thursday, September 27th. The company reported ($1.74) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($1.93) by $0.19. Scholastic had a negative net margin of 0.16% and a positive return on equity of 3.82%. The company had revenue of $218.40 million for the quarter, compared to the consensus estimate of $198.70 million. During the same period last year, the firm posted $1.31 EPS. Scholastic’s revenue for the quarter was up 15.4% on a year-over-year basis. As a group, sell-side analysts anticipate that Scholastic Corp will post 1.5 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 17th. Shareholders of record on Wednesday, October 31st will be given a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 1.37%. The ex-dividend date is Tuesday, October 30th. Scholastic’s payout ratio is currently 41.96%.

About Scholastic

Scholastic Corporation publishes and distributes children's books worldwide. It operates in three segments: Children's Book Publishing and Distribution, Education, and International. The Children's Book Publishing and Distribution segment publishes and distributes children's books, e-books, media, and interactive products through its school book club and school book fair channels, as well as through its trade channel.

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