US Bancorp DE cut its position in shares of New Oriental Education & Technology Group, Inc. (NYSE:EDU) by 5.2% during the second quarter, Holdings Channel reports. The institutional investor owned 9,069 shares of the company’s stock after selling 494 shares during the period. US Bancorp DE’s holdings in New Oriental Education & Technology Group were worth $639,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. OppenheimerFunds Inc. increased its stake in New Oriental Education & Technology Group by 1.5% in the first quarter. OppenheimerFunds Inc. now owns 9,328,992 shares of the company’s stock worth $563,284,000 after buying an additional 134,050 shares in the last quarter. Baillie Gifford & Co. increased its stake in New Oriental Education & Technology Group by 2.0% in the first quarter. Baillie Gifford & Co. now owns 8,217,804 shares of the company’s stock worth $496,191,000 after buying an additional 160,021 shares in the last quarter. BlackRock Inc. increased its stake in New Oriental Education & Technology Group by 5,434.7% in the first quarter. BlackRock Inc. now owns 6,286,645 shares of the company’s stock worth $379,587,000 after buying an additional 6,173,060 shares in the last quarter. Wellington Management Group LLP increased its stake in New Oriental Education & Technology Group by 16.9% in the first quarter. Wellington Management Group LLP now owns 3,694,007 shares of the company’s stock worth $223,045,000 after buying an additional 533,495 shares in the last quarter. Finally, UBS Asset Management Americas Inc. increased its stake in New Oriental Education & Technology Group by 235.2% in the first quarter. UBS Asset Management Americas Inc. now owns 2,106,533 shares of the company’s stock worth $127,192,000 after buying an additional 1,478,100 shares in the last quarter. 82.46% of the stock is currently owned by institutional investors and hedge funds.

Shares of New Oriental Education & Technology Group, Inc. (NYSE:EDU) traded down 1.43% during midday trading on Tuesday, hitting $81.16. The company had a trading volume of 309,923 shares. New Oriental Education & Technology Group, Inc. has a 12-month low of $37.16 and a 12-month high of $83.91. The company has a market capitalization of $12.80 billion, a price-to-earnings ratio of 46.64 and a beta of 1.40. The company’s 50-day moving average price is $77.38 and its 200 day moving average price is $65.30.

New Oriental Education & Technology Group (NYSE:EDU) last released its quarterly earnings data on Tuesday, July 25th. The company reported $0.35 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.38 by $0.03. The business had revenue of $486.40 million during the quarter, compared to the consensus estimate of $477.81 million. New Oriental Education & Technology Group had a return on equity of 17.02% and a net margin of 15.25%. The firm’s quarterly revenue was up 23.2% on a year-over-year basis. During the same period last year, the business posted $0.29 earnings per share. Equities research analysts predict that New Oriental Education & Technology Group, Inc. will post $2.37 earnings per share for the current fiscal year.

The company also recently declared a special dividend, which will be paid on Friday, October 6th. Shareholders of record on Wednesday, September 6th will be issued a $0.45 dividend. This is an increase from New Oriental Education & Technology Group’s previous special dividend of $0.40. The ex-dividend date of this dividend is Friday, September 1st.

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A number of analysts recently issued reports on EDU shares. Benchmark Co. started coverage on New Oriental Education & Technology Group in a research report on Tuesday, April 18th. They issued a “buy” rating and a $75.00 target price on the stock. Goldman Sachs Group, Inc. (The) raised New Oriental Education & Technology Group from a “neutral” rating to a “buy” rating in a research report on Tuesday, May 16th. Zacks Investment Research raised New Oriental Education & Technology Group from a “hold” rating to a “buy” rating and set a $89.00 target price on the stock in a research report on Tuesday, July 18th. Jefferies Group LLC reaffirmed a “buy” rating and issued a $74.80 target price on shares of New Oriental Education & Technology Group in a research report on Tuesday, April 25th. Finally, BidaskClub cut New Oriental Education & Technology Group from a “strong-buy” rating to a “buy” rating in a report on Tuesday, July 25th. Three equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $76.36.

New Oriental Education & Technology Group Company Profile

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.

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Institutional Ownership by Quarter for New Oriental Education & Technology Group (NYSE:EDU)

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