Schroder Investment Management Group raised its stake in shares of New Oriental Education & Technology Group Inc. (NYSE:EDU) by 13.0% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 10,194,277 shares of the company’s stock after buying an additional 1,170,618 shares during the period. New Oriental Education & Technology Group makes up approximately 0.9% of Schroder Investment Management Group’s holdings, making the stock its 16th largest position. Schroder Investment Management Group owned approximately 6.49% of New Oriental Education & Technology Group worth $426,936,000 as of its most recent SEC filing.
Several other hedge funds have also made changes to their positions in the stock. BlackRock Fund Advisors increased its position in shares of New Oriental Education & Technology Group by 6.6% in the first quarter. BlackRock Fund Advisors now owns 894,548 shares of the company’s stock worth $30,942,000 after buying an additional 55,257 shares in the last quarter. JPMorgan Chase & Co. boosted its position in New Oriental Education & Technology Group by 119.2% in the first quarter. JPMorgan Chase & Co. now owns 317,716 shares of the company’s stock worth $10,991,000 after buying an additional 172,759 shares in the last quarter. Aviva PLC boosted its position in New Oriental Education & Technology Group by 6.5% in the first quarter. Aviva PLC now owns 9,800 shares of the company’s stock worth $339,000 after buying an additional 600 shares in the last quarter. Pictet Asset Management Ltd. boosted its position in New Oriental Education & Technology Group by 7.1% in the first quarter. Pictet Asset Management Ltd. now owns 108,187 shares of the company’s stock worth $3,368,000 after buying an additional 7,200 shares in the last quarter. Finally, AXA boosted its position in New Oriental Education & Technology Group by 22.3% in the first quarter. AXA now owns 244,070 shares of the company’s stock worth $8,442,000 after buying an additional 44,568 shares in the last quarter. Hedge funds and other institutional investors own 82.35% of the company’s stock.
Shares of New Oriental Education & Technology Group Inc. (NYSE:EDU) traded up 2.39% during trading on Friday, reaching $50.48. 1,095,965 shares of the company’s stock were exchanged. The stock has a market capitalization of $7.95 billion, a price-to-earnings ratio of 33.59 and a beta of 1.32. The stock has a 50 day moving average price of $47.73 and a 200-day moving average price of $43.15. New Oriental Education & Technology Group Inc. has a 52 week low of $27.40 and a 52 week high of $53.38.
New Oriental Education & Technology Group (NYSE:EDU) last posted its quarterly earnings results on Tuesday, October 25th. The company reported $0.90 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.99 by $0.09. New Oriental Education & Technology Group had a return on equity of 16.87% and a net margin of 15.28%. The company had revenue of $534.10 million for the quarter, compared to analyst estimates of $521.77 million. During the same period last year, the company earned $0.84 earnings per share. The business’s revenue for the quarter was up 16.5% compared to the same quarter last year. Analysts predict that New Oriental Education & Technology Group Inc. will post $1.77 earnings per share for the current year.
A number of research analysts have issued reports on EDU shares. T.H. Capital raised their price target on shares of New Oriental Education & Technology Group from $34.00 to $52.00 and gave the stock a “buy” rating in a report on Thursday, July 21st. Zacks Investment Research raised shares of New Oriental Education & Technology Group from a “hold” rating to a “buy” rating and set a $50.00 target price for the company in a report on Monday, September 12th. Daiwa Capital Markets assumed coverage on shares of New Oriental Education & Technology Group in a report on Monday, October 10th. They set a “buy” rating for the company. Brean Capital reissued a “buy” rating on shares of New Oriental Education & Technology Group in a report on Tuesday, August 2nd. Finally, Nomura raised their target price on shares of New Oriental Education & Technology Group from $36.00 to $40.00 and gave the stock a “neutral” rating in a report on Thursday, July 21st. Three research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. New Oriental Education & Technology Group presently has an average rating of “Buy” and a consensus target price of $43.80.
About New Oriental Education & Technology Group
New Oriental Education & Technology Group Inc is a provider of private educational services in the People’s Republic of China (the PRC). The Company provides educational services under its New Oriental brand. The Company operates through seven segments, which include language training and test preparation, primary and secondary school education, online education, content development and distribution, pre-school education, overseas study consulting services and study tour.