Russell Investments Group Ltd. trimmed its holdings in Scholastic Co. (NASDAQ:SCHL – Get Rating) by 7.0% in the first quarter, according to the company in its most recent filing with the SEC. The fund owned 267,491 shares of the company’s stock after selling 19,982 shares during the quarter. Russell Investments Group Ltd. owned 0.78% of Scholastic worth $10,772,000 at the end of the most recent quarter.
A number of other hedge funds have also recently made changes to their positions in the business. Allianz Asset Management GmbH lifted its holdings in shares of Scholastic by 8.9% in the 4th quarter. Allianz Asset Management GmbH now owns 6,607 shares of the company’s stock worth $264,000 after acquiring an additional 540 shares during the last quarter. Loomis Sayles & Co. L P lifted its holdings in shares of Scholastic by 0.3% in the 4th quarter. Loomis Sayles & Co. L P now owns 176,808 shares of the company’s stock worth $7,065,000 after acquiring an additional 595 shares during the last quarter. Allegheny Financial Group LTD purchased a new position in shares of Scholastic in the fourth quarter worth $28,000. Nisa Investment Advisors LLC increased its stake in shares of Scholastic by 4.9% in the first quarter. Nisa Investment Advisors LLC now owns 19,510 shares of the company’s stock worth $786,000 after buying an additional 910 shares during the period. Finally, FinTrust Capital Advisors LLC purchased a new position in shares of Scholastic in the first quarter worth $41,000. 78.69% of the stock is currently owned by institutional investors.
Scholastic Trading Up 0.6 %
Shares of Scholastic stock opened at $46.41 on Friday. The company’s fifty day simple moving average is $37.80 and its two-hundred day simple moving average is $38.96. The company has a market cap of $1.60 billion, a P/E ratio of 20.81 and a beta of 0.89. Scholastic Co. has a 12-month low of $32.21 and a 12-month high of $48.13.
Scholastic Increases Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 15th. Shareholders of record on Wednesday, August 31st will be given a dividend of $0.20 per share. This is an increase from Scholastic’s previous quarterly dividend of $0.15. This represents a $0.80 dividend on an annualized basis and a yield of 1.72%. The ex-dividend date is Tuesday, August 30th. Scholastic’s payout ratio is presently 26.91%.
Analysts Set New Price Targets
Several research analysts recently commented on the stock. StockNews.com raised shares of Scholastic from a “buy” rating to a “strong-buy” rating in a research note on Monday, July 25th. TheStreet raised shares of Scholastic from a “c” rating to a “b” rating in a research note on Thursday, July 21st.
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 publishes and distributes children’s books, e-books, media, and interactive products through its school book club and fair channels, as well as trade channels.
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