New Oriental Education & Tech Grp (EDU) Shares Sold by State of New Jersey Common Pension Fund D

State of New Jersey Common Pension Fund D trimmed its stake in New Oriental Education & Tech Grp (NYSE:EDU) by 23.6% during the third quarter, Holdings Channel reports. The institutional investor owned 148,153 shares of the company’s stock after selling 45,694 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in New Oriental Education & Tech Grp were worth $10,965,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently bought and sold shares of EDU. Canada Pension Plan Investment Board lifted its stake 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 valued at $100,586,000 after buying an additional 827,958 shares during the last quarter. Schroder Investment Management Group lifted its stake in New Oriental Education & Tech Grp by 7.6% in the second quarter. Schroder Investment Management Group now owns 6,383,548 shares of the company’s stock valued at $599,288,000 after buying an additional 452,870 shares during the last quarter. BlackRock Inc. lifted its stake in New Oriental Education & Tech Grp by 4.2% in the second quarter. BlackRock Inc. now owns 6,786,748 shares of the company’s stock valued at $642,432,000 after buying an additional 276,215 shares during the last quarter. Zeal Asset Management Ltd bought a new stake in New Oriental Education & Tech Grp in the second quarter valued at $24,953,000. Finally, USS Investment Management Ltd bought a new stake in New Oriental Education & Tech Grp in the second quarter valued at $23,663,000. Institutional investors own 88.79% of the company’s stock.

EDU stock opened at $61.07 on Friday. New Oriental Education & Tech Grp has a 1 year low of $58.17 and a 1 year high of $108.40. The firm has a market capitalization of $8.71 billion, a price-to-earnings ratio of 32.66, a P/E/G ratio of 0.82 and a beta of 1.15.

New Oriental Education & Tech Grp (NYSE:EDU) last issued its quarterly earnings data on Tuesday, July 24th. The company reported $0.55 earnings per share for the quarter, beating analysts’ consensus estimates of $0.54 by $0.01. New Oriental Education & Tech Grp had a net margin of 12.10% and a return on equity of 15.17%. The business had revenue of $701.00 million for the quarter, compared to analysts’ expectations of $672.44 million. During the same period in the previous year, the business earned $0.41 earnings per share. The company’s revenue was up 44.1% on a year-over-year basis. On average, equities research analysts anticipate that New Oriental Education & Tech Grp will post 2.58 EPS for the current fiscal year.

A number of research firms have issued reports on EDU. Zacks Investment Research upgraded New Oriental Education & Tech Grp from a “hold” rating to a “buy” rating and set a $107.00 target price on the stock in a research note on Tuesday, June 26th. CLSA upgraded New Oriental Education & Tech Grp from an “underperform” rating to a “buy” rating in a research note on Monday, October 15th. ValuEngine upgraded New Oriental Education & Tech Grp from a “sell” rating to a “hold” rating in a research note on Tuesday, October 2nd. JPMorgan Chase & Co. upgraded New Oriental Education & Tech Grp from a “neutral” rating to an “overweight” rating in a research note on Thursday, July 26th. Finally, Morgan Stanley cut New Oriental Education & Tech Grp from an “overweight” rating to an “equal weight” rating in a research note on Tuesday, October 2nd. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and five have given a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $107.80.

New Oriental Education & Tech Grp 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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