Scholastic Co. (NASDAQ:SCHL) Shares Acquired by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. raised its stake in shares of Scholastic Co. (NASDAQ:SCHL - Free Report) by 9.1% in the third quarter, according to its most recent 13F filing with the SEC. The fund owned 502,179 shares of the company's stock after buying an additional 41,864 shares during the period. Charles Schwab Investment Management Inc. owned about 1.78% of Scholastic worth $16,075,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of the stock. nVerses Capital LLC purchased a new position in Scholastic in the second quarter valued at $35,000. Meeder Asset Management Inc. purchased a new position in shares of Scholastic in the 3rd quarter valued at about $46,000. Innealta Capital LLC acquired a new position in Scholastic in the 2nd quarter worth about $64,000. Commonwealth Equity Services LLC acquired a new position in Scholastic in the 2nd quarter worth about $279,000. Finally, BOKF NA purchased a new position in Scholastic during the second quarter worth approximately $299,000. Institutional investors and hedge funds own 82.57% of the company's stock.

Wall Street Analysts Forecast Growth

Separately, StockNews.com downgraded Scholastic from a "buy" rating to a "hold" rating in a research note on Saturday, October 5th.

Scholastic Price Performance

Shares of NASDAQ SCHL traded up $0.12 during trading on Friday, hitting $26.57. The company had a trading volume of 148,635 shares, compared to its average volume of 229,521. The firm has a market capitalization of $747.60 million, a price-to-earnings ratio of 47.45 and a beta of 1.07. The stock has a fifty day simple moving average of $26.13 and a two-hundred day simple moving average of $30.55. The company has a quick ratio of 0.64, a current ratio of 1.14 and a debt-to-equity ratio of 0.24. Scholastic Co. has a fifty-two week low of $23.69 and a fifty-two week high of $41.79.

Scholastic (NASDAQ:SCHL - Get Free Report) last posted its quarterly earnings data on Thursday, September 26th. The company reported ($2.13) earnings per share (EPS) for the quarter, topping the consensus estimate of ($2.48) by $0.35. Scholastic had a return on equity of 4.32% and a net margin of 1.49%. The company had revenue of $237.20 million for the quarter, compared to analysts' expectations of $233.49 million. During the same period in the previous year, the firm posted ($2.20) EPS. On average, research analysts expect that Scholastic Co. will post 1.41 earnings per share for the current year.

Scholastic Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Thursday, October 31st will be issued a $0.20 dividend. The ex-dividend date of this dividend is Thursday, October 31st. This represents a $0.80 dividend on an annualized basis and a yield of 3.01%. Scholastic's payout ratio is currently 142.86%.

Scholastic Profile

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.