Jacobs Levy Equity Management Inc. Trims Position in Scholastic Co. (NASDAQ:SCHL)

Jacobs Levy Equity Management Inc. reduced its holdings in Scholastic Co. (NASDAQ:SCHL) by 7.6% during the 3rd quarter, Holdings Channel reports. The fund owned 314,408 shares of the company’s stock after selling 25,969 shares during the period. Jacobs Levy Equity Management Inc.’s holdings in Scholastic were worth $10,064,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently made changes to their positions in SCHL. Renaissance Technologies LLC purchased a new position in Scholastic during the second quarter valued at approximately $1,936,000. Acadian Asset Management LLC purchased a new position in shares of Scholastic during the 2nd quarter valued at approximately $1,295,000. AQR Capital Management LLC lifted its stake in shares of Scholastic by 62.6% in the 2nd quarter. AQR Capital Management LLC now owns 67,417 shares of the company’s stock valued at $2,391,000 after purchasing an additional 25,958 shares during the period. Robeco Institutional Asset Management B.V. boosted its holdings in Scholastic by 744.3% during the third quarter. Robeco Institutional Asset Management B.V. now owns 65,625 shares of the company’s stock worth $2,101,000 after buying an additional 57,852 shares in the last quarter. Finally, Intech Investment Management LLC grew its position in Scholastic by 127.8% during the third quarter. Intech Investment Management LLC now owns 33,747 shares of the company’s stock valued at $1,080,000 after buying an additional 18,933 shares during the period. Institutional investors and hedge funds own 82.57% of the company’s stock.

Analyst Ratings Changes

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

Scholastic Trading Up 0.6 %

Shares of NASDAQ:SCHL opened at $26.45 on Friday. The firm has a market capitalization of $744.30 million, a price-to-earnings ratio of 47.23 and a beta of 1.07. The business’s 50 day moving average price is $26.24 and its 200-day moving average price is $30.71. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.14 and a quick ratio of 0.64. Scholastic Co. has a 1 year low of $23.69 and a 1 year high of $41.79.

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

Scholastic Announces Dividend

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 paid a dividend of $0.20 per share. The ex-dividend date is Thursday, October 31st. This represents a $0.80 annualized dividend and a yield of 3.02%. Scholastic’s dividend payout ratio (DPR) is currently 142.86%.

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.