BlackRock Fund Advisors recently announced the acquisition of new stake in Scholastic Corporation (NASDAQ:SCHL). The institutional investor has increased its shareholding in the Communication Services company by 0.23% to 4.56 million shares with purchase of 10478.0 shares. This fresh investment now brings its stake to 14.08% valued currently at $179.76 million. In addition, The Vanguard Group, Inc. raised its holdings by 0.47 million to 3.34 million shares. And Dimensional Fund Advisors LP has lifted its position by 2.27% or 54602.0 shares – to 2.46 million shares.
With over 0.14 million Scholastic Corporation (SCHL) shares trading Friday and a closing price of $43.00 on the day, the dollar volume was approximately $5.89 million. The shares have shown a positive half year performance of 16.56% and its price on 01/20/23 gained nearly 2.33%. Currently, there are 34.50M common shares owned by the public and among those 29.30M shares have been available to trade.
An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 1 analysts who have offered their price forecasts for SCHL have a consensus price objective of $26.00. The analysts have set the share’s price value over the next 12 months at a high of $26.00 and a low of $26.00. But a downside of -65.38% will see the stock hit the forecast high price target while median target price for the stock is $26.00.
Insiders at the company have transacted a total of 54 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 26 of these insider trades were purchases, accounting for 118,869 shares. Insider sales of the common stock occurred on 28 occasions, with total insider shares sold totaling 45,870 shares.
The top 3 mutual fund holders in Scholastic Corporation are T Rowe Price Mid Cap Value Fund, iShares Core S&P Small Cap ETF, and DFA US Small Cap Value Portfolio. T Rowe Price Mid Cap Value Fund owns 2.51 million shares of the company’s stock, all valued at over $99.22 million. iShares Core S&P Small Cap ETF sold 1664.0 shares to see its total holdings shrink to 2.2 million shares valued at over $86.77 million and representing 6.80% of the shares outstanding. DFA US Small Cap Value Portfolio sold 15044.0 shares to bring its total holdings to over 0.95 million shares at a value of $37.42 million. DFA US Small Cap Value Portfolio now owns shares totaling to 2.93% of the shares outstanding.
Shares of Scholastic Corporation (NASDAQ: SCHL) opened at $42.39, up $0.37 from a prior closing price of $42.02. However, the script later moved the day high at 43.04, up 2.33%. The company’s stock has a 5-day price change of 3.32% and 31.66% over the past three months. SCHL shares are trading 8.97% year to date (YTD), with the 12-month market performance up to 5.34% higher. It has a 12-month low price of $28.22 and touched a high of $48.28 over the same period. SCHL has an average intraday trading volume of 222.65K shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 6.22%, 8.56%, and 10.90% respectively.
Institutional ownership of Scholastic Corporation (NASDAQ: SCHL) shares accounts for 88.40% of the company’s 34.50M shares outstanding. Mutual fund holders own 30.05%, while other institutional holders and individual stakeholders account for 59.02% and 15.32% respectively.
It has a market capitalization of $1.43B and a beta (3y monthly) value of 1.12. The stock’s trailing 12-month PE ratio is 23.82, while the earnings-per-share (ttm) stands at $1.80. The company has a PEG of 2.62 and a Quick Ratio of 1.00 with the debt-to-equity ratio at 0.00. Price movements for the stock have been influenced by the stock’s volatility, which stands at 3.09% over the week and 2.58% over the month.
The lowest estimate earnings-per-share for the quarter is $0 while analysts give the company a high EPS estimate of $0. EPS should grow at an annualized rate of 9.10% over the next five years, compared to 8.80% over the past 5-year period.
Specifically, 0 Wall Street analysts polled rate the stock as a buy, while 1 of the 1 advise that investors “hold,” and 0 rated it as a “Sell.”
Looking at the support for the SCHL, a number of firms have released research notes about the stock. Stifel stated their Hold rating for the stock in a research note on July 16, 2018, with the firm’s price target at $40-$43. Stifel coverage for the Scholastic Corporation (SCHL) stock in a research note released on December 13, 2017 offered a Hold rating with a price target of $41. Stifel was of a view on March 28, 2017 that the stock is Hold, while Oppenheimer gave the stock Outperform rating on October 13, 2015, issuing a price target of $50. Gabelli & Co on their part issued Buy rating on April 27, 2015.