Arrowstreet Capital Limited Partnership Decreases Position in Scholastic Co. (NASDAQ:SCHL)

Arrowstreet Capital Limited Partnership reduced its position in shares of Scholastic Co. (NASDAQ:SCHL) by 27.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 323,106 shares of the company’s stock after selling 123,716 shares during the period. Arrowstreet Capital Limited Partnership’s holdings in Scholastic were worth $6,892,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in the company. JPMorgan Chase & Co. increased its position in shares of Scholastic by 248.8% during the fourth quarter. JPMorgan Chase & Co. now owns 293,754 shares of the company’s stock worth $6,266,000 after purchasing an additional 209,524 shares in the last quarter. Azarias Capital Management L.P. raised its position in shares of Scholastic by 71.8% in the fourth quarter. Azarias Capital Management L.P. now owns 467,783 shares of the company’s stock valued at $9,978,000 after buying an additional 195,507 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in shares of 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 buying an additional 66,027 shares in the last quarter. Norges Bank acquired a new position in Scholastic during the fourth quarter worth about $1,295,000. Finally, American Century Companies Inc. grew its stake in Scholastic by 10.4% during the 4th 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 in the last quarter. Institutional investors and hedge funds own 82.57% of the company’s stock.

Scholastic Stock Up 1.1 %

SCHL stock opened at $18.24 on Monday. The company has a market cap of $512.56 million, a price-to-earnings ratio of -101.33 and a beta of 1.10. The firm has a 50-day moving average of $19.84 and a two-hundred day moving average of $23.09. Scholastic Co. has a 12 month low of $17.48 and a 12 month high of $38.77. The company has a current ratio of 1.24, a quick ratio of 0.81 and a debt-to-equity ratio of 0.25.

Scholastic (NASDAQ:SCHL) last announced its quarterly earnings data on Thursday, March 20th. The company reported ($0.05) 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 the consensus estimate of $347.68 million. As a group, analysts forecast that Scholastic Co. will post 0.84 earnings per share for the current fiscal year.

Scholastic Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Wednesday, April 30th will be given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 4.39%. The ex-dividend date of this dividend is Wednesday, April 30th. Scholastic’s payout ratio is currently 133.33%.

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.