Arrowstreet Capital Limited Partnership Has $6.89 Million Position in Scholastic Co. (NASDAQ:SCHL)

Arrowstreet Capital Limited Partnership lowered its stake in shares of Scholastic Co. (NASDAQ:SCHL - Free Report) by 27.7% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 323,106 shares of the company's stock after selling 123,716 shares during the quarter. Arrowstreet Capital Limited Partnership owned approximately 1.15% of Scholastic worth $6,892,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Pacer Advisors Inc. grew its stake in shares of Scholastic by 2.0% during the fourth quarter. Pacer Advisors Inc. now owns 838,366 shares of the company's stock valued at $17,882,000 after purchasing an additional 16,379 shares during the last quarter. American Century Companies Inc. boosted its holdings in Scholastic by 10.4% in the fourth quarter. American Century Companies Inc. now owns 621,852 shares of the company's stock valued at $13,264,000 after acquiring an additional 58,483 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in Scholastic by 13.1% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 568,206 shares of the company's stock worth $12,120,000 after purchasing an additional 66,027 shares during the period. Azarias Capital Management L.P. raised its holdings in Scholastic by 71.8% during the 4th quarter. Azarias Capital Management L.P. now owns 467,783 shares of the company's stock worth $9,978,000 after purchasing an additional 195,507 shares during the last quarter. Finally, JPMorgan Chase & Co. lifted its position in Scholastic by 248.8% during the 4th quarter. JPMorgan Chase & Co. now owns 293,754 shares of the company's stock valued at $6,266,000 after purchasing an additional 209,524 shares during the period. Institutional investors and hedge funds own 82.57% of the company's stock.

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Scholastic Trading Down 0.9 %

Shares of NASDAQ SCHL traded down $0.15 during mid-day trading on Friday, hitting $16.39. The company's stock had a trading volume of 365,969 shares, compared to its average volume of 260,146. Scholastic Co. has a one year low of $16.24 and a one year high of $38.77. The stock has a market cap of $460.58 million, a price-to-earnings ratio of -91.05 and a beta of 1.08. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.24 and a quick ratio of 0.81. The company's fifty day simple moving average is $19.44 and its 200-day simple moving average is $22.51.

Scholastic (NASDAQ:SCHL - Get Free Report) last issued its earnings results on Thursday, March 20th. The company reported ($0.05) earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 for the quarter, compared to analysts' expectations of $347.68 million. On average, sell-side analysts anticipate that Scholastic Co. will post 0.84 earnings per share for the current fiscal year.

Scholastic Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Wednesday, April 30th will be paid a $0.20 dividend. The ex-dividend date of this dividend is Wednesday, April 30th. This represents a $0.80 dividend on an annualized basis and a yield of 4.88%. Scholastic's payout ratio is 133.33%.

Scholastic Company 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.