Neuberger Berman Group LLC Sells 500,995 Shares of Scholastic Co. (NASDAQ:SCHL)

Neuberger Berman Group LLC trimmed its stake in shares of Scholastic Co. (NASDAQ:SCHL) by 36.8% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 860,509 shares of the company’s stock after selling 500,995 shares during the quarter. Neuberger Berman Group LLC’s holdings in Scholastic were worth $18,355,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the stock. JPMorgan Chase & Co. grew its holdings in Scholastic by 248.8% during the 4th quarter. JPMorgan Chase & Co. now owns 293,754 shares of the company’s stock valued at $6,266,000 after buying an additional 209,524 shares in the last quarter. Azarias Capital Management L.P. grew its stake in 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 acquiring an additional 195,507 shares in the last quarter. Invesco Ltd. increased its holdings in Scholastic by 81.7% during the 4th quarter. Invesco Ltd. now owns 317,975 shares of the company’s stock worth $6,782,000 after acquiring an additional 142,954 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in Scholastic by 13.1% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 568,206 shares of the company’s stock worth $12,120,000 after purchasing an additional 66,027 shares in the last quarter. Finally, Norges Bank bought a new position in Scholastic in the 4th quarter valued at $1,295,000. Hedge funds and other institutional investors own 82.57% of the company’s stock.

Scholastic Stock Down 4.2 %

SCHL opened at $16.54 on Friday. The firm has a market capitalization of $464.79 million, a P/E ratio of -91.88 and a beta of 1.08. Scholastic Co. has a one year low of $16.24 and a one year high of $38.77. The company has a fifty day moving average price of $19.49 and a 200-day moving average price of $22.60. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.24 and a quick ratio of 0.81.

Scholastic (NASDAQ:SCHL) last posted its earnings results on Thursday, March 20th. The company reported ($0.05) EPS for the quarter, topping the consensus estimate 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 business had revenue of $335.40 million during the quarter, compared to analysts’ expectations of $347.68 million. Equities research analysts expect 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. Stockholders of record on Wednesday, April 30th will be issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 4.84%. The ex-dividend date of this dividend is Wednesday, April 30th. Scholastic’s payout ratio is currently 133.33%.

Scholastic Profile

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.