JPMorgan Chase & Co. Acquires 209,524 Shares of Scholastic Co. (NASDAQ:SCHL)

JPMorgan Chase & Co. boosted its stake in Scholastic Co. (NASDAQ:SCHL) by 248.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 293,754 shares of the company’s stock after acquiring an additional 209,524 shares during the period. JPMorgan Chase & Co.’s holdings in Scholastic were worth $6,266,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in SCHL. Azarias Capital Management L.P. increased its position in shares of Scholastic by 71.8% during 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 period. Charles Schwab Investment Management Inc. boosted its position in Scholastic by 13.1% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 568,206 shares of the company’s stock valued at $12,120,000 after acquiring an additional 66,027 shares in the last quarter. American Century Companies Inc. grew its holdings in shares of Scholastic by 10.4% during the 4th quarter. American Century Companies Inc. now owns 621,852 shares of the company’s stock worth $13,264,000 after acquiring an additional 58,483 shares during the period. Sei Investments Co. raised its position in shares of Scholastic by 65.0% in the 4th quarter. Sei Investments Co. now owns 111,703 shares of the company’s stock worth $2,383,000 after acquiring an additional 44,004 shares in the last quarter. Finally, Barclays PLC lifted its stake in shares of Scholastic by 291.6% in the 3rd quarter. Barclays PLC now owns 41,228 shares of the company’s stock valued at $1,319,000 after purchasing an additional 30,699 shares during the period. 82.57% of the stock is owned by hedge funds and other institutional investors.

Scholastic Price Performance

Shares of SCHL stock opened at $16.30 on Friday. The business’s fifty day moving average is $19.25 and its 200 day moving average is $22.15. The company has a quick ratio of 0.81, a current ratio of 1.24 and a debt-to-equity ratio of 0.25. The stock has a market cap of $458.05 million, a price-to-earnings ratio of -90.55 and a beta of 1.08. Scholastic Co. has a twelve month low of $15.77 and a twelve month high of $38.77.

Scholastic (NASDAQ:SCHL) last released its earnings results on Thursday, March 20th. The company reported ($0.05) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.78) by $0.73. The firm had revenue of $335.40 million for the quarter, compared to the consensus estimate of $347.68 million. Scholastic had a negative net margin of 0.27% and a positive return on equity of 1.91%. Research analysts expect that Scholastic Co. will post 0.84 EPS 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 dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 4.91%. The ex-dividend date of this dividend is Wednesday, April 30th. Scholastic’s dividend payout ratio is 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.