Scholastic (NASDAQ:SCHL) Stock Price Breaks Above Two Hundred Day Moving Average – Here’s What Happened

Shares of Scholastic Corporation (NASDAQ:SCHL – Get Free Report) passed above its 200-day moving average during trading on Tuesday. The stock has a 200-day moving average of $38.85 and traded as high as $39.29. Scholastic shares last traded at $39.14, with a volume of 193,041 shares traded.

Analysts Set New Price Targets

A number of analysts have recently issued reports on SCHL shares. Weiss Ratings cut Scholastic from a “hold (c+)” rating to a “hold (c-)” rating in a research report on Monday, September 28th. B. Riley Financial reduced their target price on Scholastic from $42.00 to $35.00 and set a “neutral” rating for the company in a research report on Monday, September 28th. Zacks Research upgraded shares of Scholastic from a “strong sell” rating to a “hold” rating in a research note on Tuesday, September 22nd. Finally, Wall Street Zen raised shares of Scholastic from a “sell” rating to a “hold” rating in a report on Sunday, October 18th. Three research analysts have rated the stock with a Hold rating. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $35.00.

Check Out Our Latest Stock Analysis on SCHL

Scholastic Stock Performance

The company has a current ratio of 1.25, a quick ratio of 0.71 and a debt-to-equity ratio of 0.27. The firm has a market capitalization of $739.88 million, a price-to-earnings ratio of 28.02, a PEG ratio of 2.10 and a beta of 1.08. The stock has a fifty day moving average price of $37.38 and a 200-day moving average price of $38.88.

Scholastic (NASDAQ:SCHL – Get Free Report) last announced its quarterly earnings results on Thursday, September 24th. The company reported ($3.63) EPS for the quarter, missing the consensus estimate of ($3.42) by ($0.21). Scholastic had a net margin of 3.60% and a return on equity of 5.00%. The company had revenue of $216.80 million during the quarter, compared to analyst estimates of $224.69 million. As a group, analysts anticipate that Scholastic Corporation will post 1.41 earnings per share for the current fiscal year.

Scholastic Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 15th. Investors of record on Friday, October 30th will be issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 2.5%. The ex-dividend date of this dividend is Friday, October 30th. Scholastic’s dividend payout ratio (DPR) is currently 71.43%.

Insider Buying and Selling at Scholastic

In other Scholastic news, EVP Iole Lucchese sold 289,624 shares of the company’s stock in a transaction dated Wednesday, August 26th. The shares were sold at an average price of $39.76, for a total transaction of $11,515,450.24. Following the sale, the executive vice president directly owned 289,623 shares of the company’s stock, valued at approximately $11,515,410.48. This represents a 50.00% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Kaya Henderson sold 3,250 shares of the firm’s stock in a transaction that occurred on Thursday, August 6th. The stock was sold at an average price of $40.25, for a total transaction of $130,812.50. Following the sale, the director directly owned 7,113 shares of the company’s stock, valued at approximately $286,298.25. The trade was a 31.36% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 294,986 shares of company stock worth $11,731,334 over the last ninety days. Corporate insiders own 12.77% of the company’s stock.

Institutional Investors Weigh In On Scholastic

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Meeder Asset Management Inc. bought a new position in Scholastic in the 2nd quarter valued at $43,000. Integrated Wealth Concepts LLC bought a new stake in shares of Scholastic during the second quarter worth $56,000. State of Wyoming acquired a new stake in shares of Scholastic in the second quarter valued at $115,000. Signaturefd LLC increased its stake in shares of Scholastic by 51.1% in the third quarter. Signaturefd LLC now owns 3,590 shares of the company’s stock valued at $126,000 after buying an additional 1,214 shares in the last quarter. Finally, iSAM Funds UK Ltd acquired a new stake in shares of Scholastic in the second quarter valued at $235,000. 82.57% of the stock is owned by institutional investors and hedge funds.

About Scholastic

(Get Free Report)

Scholastic Corporation (NASDAQ:SCHL) is a global children’s publishing, education and media company. It develops and distributes books, digital content, classroom magazines, educational technology and other learning materials for children, educators and families.

The company publishes fiction and nonfiction for children and young adults through trade imprints and recognizable series and brands, including Harry Potter, Clifford the Big Red Dog, Goosebumps, Captain Underpants and The Hunger Games.

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