T. Rowe Price Discloses 7.6% Stake in Scholastic Corp.
Ticker: SCHL · Form: SC 13G/A · Filed: Jan 10, 2024 · CIK: 866729
| Field | Detail |
|---|---|
| Company | Scholastic Corp (SCHL) |
| Form Type | SC 13G/A |
| Filed Date | Jan 10, 2024 |
| Risk Level | low |
| Sentiment | neutral |
Complexity: simple
Sentiment: neutral
Topics: institutional-ownership, amendment, passive-investing
TL;DR
**T. Rowe Price still owns 7.6% of Scholastic, signaling continued institutional interest.**
AI Summary
T. Rowe Price Associates, Inc. and its T. Rowe Price Mid-Cap Value Fund, Inc. have updated their ownership stake in Scholastic Corp. As of December 31, 2023, T. Rowe Price Associates beneficially owns 2,143,718 shares, representing 7.6% of Scholastic's common stock, while the Mid-Cap Value Fund holds 1,186,357 shares. This filing indicates a significant institutional investor maintains a notable position, which can signal confidence in the company's long-term prospects to other investors.
Why It Matters
This filing shows a major institutional investor, T. Rowe Price, continues to hold a substantial stake in Scholastic, which can be seen as a vote of confidence and may influence other investors' perceptions of the stock.
Risk Assessment
Risk Level: low — This is an amendment to a passive ownership filing, indicating no immediate change in control or strategy, thus posing low risk.
Analyst Insight
Investors should note that a major institutional investor like T. Rowe Price continues to hold a substantial, passive stake in Scholastic, which could be interpreted as a sign of long-term stability and confidence in the company's fundamentals. This information is generally positive but doesn't suggest immediate price catalysts.
Key Numbers
- 2,143,718 — shares beneficially owned by T. Rowe Price Associates, Inc. (represents the total shares T. Rowe Price Associates has dispositive power over)
- 7.6% — percent of class represented by T. Rowe Price Associates, Inc. (indicates the significant ownership stake in Scholastic Corp.)
- 910,438 — sole voting power shares for T. Rowe Price Associates, Inc. (shows the number of shares T. Rowe Price Associates can vote independently)
- 1,186,357 — sole voting power shares for T. Rowe Price Mid-Cap Value Fund, Inc. (shows the number of shares the Mid-Cap Value Fund can vote independently)
- 807066105 — CUSIP NUMBER (unique identifier for Scholastic Corp. common stock)
Key Players & Entities
- T. Rowe Price Associates, Inc. (company) — reporting person and investment adviser
- SCHOLASTIC CORP (company) — the issuer of the securities
- T. ROWE PRICE MID-CAP VALUE FUND, INC. (company) — reporting person and investment fund
- Maryland (place) — place of organization for T. Rowe Price
- December 31, 2023 (date) — date of event requiring the filing
Forward-Looking Statements
- T. Rowe Price will maintain a significant, passive stake in Scholastic Corp. for the foreseeable future. (T. Rowe Price Associates, Inc.) — high confidence, target: December 31, 2024
- Scholastic Corp.'s stock price will experience stability due to continued institutional investor confidence. (SCHOLASTIC CORP) — medium confidence, target: June 30, 2024
FAQ
What is the primary purpose of this SC 13G/A filing?
This SC 13G/A filing is an amendment (Amendment No. 7) to a Schedule 13G, indicating an update to the beneficial ownership of SCHOLASTIC CORP common stock by T. ROWE PRICE ASSOCIATES, INC. and T. ROWE PRICE MID-CAP VALUE FUND, INC. as of December 31, 2023.
How many shares of Scholastic Corp. does T. Rowe Price Associates, Inc. beneficially own in aggregate?
T. Rowe Price Associates, Inc. beneficially owns an aggregate of 2,143,718 shares of SCHOLASTIC CORP common stock, as stated in Row 9 of their filing.
What percentage of Scholastic Corp.'s common stock does T. Rowe Price Associates, Inc. represent?
T. Rowe Price Associates, Inc. represents 7.6% of the class of SCHOLASTIC CORP common stock, as indicated in Row 11 of their filing.
What is the sole voting power held by T. Rowe Price Mid-Cap Value Fund, Inc. in Scholastic Corp.?
T. Rowe Price Mid-Cap Value Fund, Inc. holds sole voting power over 1,186,357 shares of SCHOLASTIC CORP common stock, as reported in Item 5 of their section of the filing.
Under which SEC Rule is this Schedule 13G filed?
This Schedule 13G is filed under Rule 13d-1(b), as indicated by the checked box in the filing.
Filing Details
This Form SC 13G/A (Form SC 13G/A) was filed with the SEC on January 10, 2024 regarding SCHOLASTIC CORP (SCHL).