New Oriental Education & Tech Grp (EDU) Position Decreased by Bank of America Corp DE

Bank of America Corp DE reduced its stake in shares of New Oriental Education & Tech Grp (NYSE:EDU) by 6.9% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,123,711 shares of the company’s stock after selling 82,813 shares during the quarter. Bank of America Corp DE owned about 0.79% of New Oriental Education & Tech Grp worth $106,371,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of EDU. Canada Pension Plan Investment Board raised its position in New Oriental Education & Tech Grp by 352.9% in the second quarter. Canada Pension Plan Investment Board now owns 1,062,605 shares of the company’s stock worth $100,586,000 after acquiring an additional 827,958 shares in the last quarter. Newbrook Capital Advisors LP bought a new stake in New Oriental Education & Tech Grp in the first quarter worth about $71,100,000. GQG Partners LLC bought a new stake in New Oriental Education & Tech Grp in the first quarter worth about $54,660,000. Emerging Sovereign Group LLC raised its position in New Oriental Education & Tech Grp by 420.4% in the first quarter. Emerging Sovereign Group LLC now owns 674,208 shares of the company’s stock worth $59,094,000 after acquiring an additional 544,660 shares in the last quarter. Finally, BlackRock Inc. raised its position in New Oriental Education & Tech Grp by 8.7% in the first quarter. BlackRock Inc. now owns 6,510,533 shares of the company’s stock worth $570,647,000 after acquiring an additional 519,686 shares in the last quarter. Institutional investors and hedge funds own 88.80% of the company’s stock.

Several brokerages have commented on EDU. CLSA cut shares of New Oriental Education & Tech Grp from an “outperform” rating to an “underperform” rating in a research report on Thursday, May 24th. ValuEngine upgraded shares of New Oriental Education & Tech Grp from a “hold” rating to a “buy” rating in a research report on Wednesday, May 23rd. JPMorgan Chase & Co. lifted their price target on New Oriental Education & Tech Grp from $90.00 to $102.00 and gave the stock a “neutral” rating in a research note on Tuesday, May 29th. Finally, Zacks Investment Research raised New Oriental Education & Tech Grp from a “hold” rating to a “buy” rating and set a $107.00 price target on the stock in a research note on Tuesday, June 26th. Three equities research analysts have rated the stock with a sell rating, one has issued a hold rating and five have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $105.55.

Shares of EDU opened at $68.76 on Tuesday. The stock has a market capitalization of $9.95 billion, a P/E ratio of 36.77, a P/E/G ratio of 0.93 and a beta of 1.20. New Oriental Education & Tech Grp has a 1-year low of $67.85 and a 1-year high of $108.40.

New Oriental Education & Tech Grp (NYSE:EDU) last issued its quarterly earnings results on Tuesday, July 24th. The company reported $0.55 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.54 by $0.01. The firm had revenue of $701.00 million for the quarter, compared to analysts’ expectations of $672.44 million. New Oriental Education & Tech Grp had a return on equity of 14.79% and a net margin of 12.10%. New Oriental Education & Tech Grp’s revenue was up 44.1% on a year-over-year basis. During the same quarter last year, the business posted $0.41 EPS. analysts expect that New Oriental Education & Tech Grp will post 2.58 earnings per share for the current fiscal year.

New Oriental Education & Tech Grp Company Profile

New Oriental Education & Technology Group Inc provides private educational services under the New Oriental brand in the People's Republic of China. The company operates through 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 segments.

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Institutional Ownership by Quarter for New Oriental Education & Tech Grp (NYSE:EDU)

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