Norges Bank Buys Shares of 60,732 Scholastic Co. (NASDAQ:SCHL)

Norges Bank bought a new stake in shares of Scholastic Co. (NASDAQ:SCHL - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 60,732 shares of the company's stock, valued at approximately $1,295,000. Norges Bank owned 0.22% of Scholastic as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of SCHL. KBC Group NV lifted its position in shares of Scholastic by 125.4% during the 4th quarter. KBC Group NV now owns 2,443 shares of the company's stock valued at $52,000 after buying an additional 1,359 shares in the last quarter. FMR LLC lifted its holdings in Scholastic by 58.8% during the third quarter. FMR LLC now owns 2,346 shares of the company's stock valued at $75,000 after purchasing an additional 869 shares in the last quarter. KLP Kapitalforvaltning AS purchased a new stake in shares of Scholastic during the fourth quarter worth about $96,000. BNP Paribas Financial Markets raised its position in shares of Scholastic by 99.6% during the 3rd quarter. BNP Paribas Financial Markets now owns 9,711 shares of the company's stock worth $311,000 after purchasing an additional 4,845 shares during the last quarter. Finally, Y Intercept Hong Kong Ltd lifted its stake in Scholastic by 127.7% in the 4th quarter. Y Intercept Hong Kong Ltd now owns 14,762 shares of the company's stock valued at $315,000 after buying an additional 8,278 shares in the last quarter. Hedge funds and other institutional investors own 82.57% of the company's stock.

Scholastic Price Performance

NASDAQ:SCHL traded up $0.07 during trading hours on Tuesday, hitting $16.17. 395,843 shares of the stock were exchanged, compared to its average volume of 261,923. The firm's fifty day moving average price is $19.39 and its 200 day moving average price is $22.35. Scholastic Co. has a 52-week low of $15.81 and a 52-week high of $38.77. The company has a market cap of $454.39 million, a P/E ratio of -89.83 and a beta of 1.08. The company has a current ratio of 1.24, a quick ratio of 0.81 and a debt-to-equity ratio of 0.25.

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Scholastic (NASDAQ:SCHL - Get Free Report) last posted its quarterly earnings data on Thursday, March 20th. The company reported ($0.05) EPS for the quarter, beating the consensus estimate of ($0.78) by $0.73. Scholastic had a positive return on equity of 1.91% and a negative net margin of 0.27%. The firm had revenue of $335.40 million during the quarter, compared to the consensus estimate of $347.68 million. As a group, equities research analysts anticipate that Scholastic Co. will post 0.84 EPS for the current fiscal year.

Scholastic Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Wednesday, April 30th will be paid a dividend of $0.20 per share. The ex-dividend date of this dividend is Wednesday, April 30th. This represents a $0.80 annualized dividend and a yield of 4.95%. Scholastic's dividend payout ratio is presently 133.33%.

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.