Sumitomo Mitsui Trust Holdings Inc. reduced its stake in shares of New Oriental Education & Technology Group, Inc. (NYSE:EDU) by 0.8% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 414,508 shares of the company’s stock after selling 3,417 shares during the period. Sumitomo Mitsui Trust Holdings Inc. owned about 0.26% of New Oriental Education & Technology Group worth $29,219,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Nippon Life Insurance Co. bought a new stake in shares of New Oriental Education & Technology Group during the second quarter valued at about $111,000. Tower Research Capital LLC TRC boosted its stake in shares of New Oriental Education & Technology Group by 64.0% in the first quarter. Tower Research Capital LLC TRC now owns 2,319 shares of the company’s stock valued at $140,000 after buying an additional 905 shares during the period. Advisors Preferred LLC bought a new stake in shares of New Oriental Education & Technology Group during the first quarter valued at about $147,000. Wetherby Asset Management Inc. bought a new stake in shares of New Oriental Education & Technology Group during the second quarter valued at about $227,000. Finally, Raymond James Financial Services Advisors Inc. bought a new stake in shares of New Oriental Education & Technology Group during the first quarter valued at about $205,000. Institutional investors and hedge funds own 76.33% of the company’s stock.

New Oriental Education & Technology Group, Inc. (NYSE:EDU) opened at 78.31 on Wednesday. New Oriental Education & Technology Group, Inc. has a one year low of $37.16 and a one year high of $86.88. The firm has a market capitalization of $12.35 billion, a P/E ratio of 45.01 and a beta of 1.40. The stock’s 50 day moving average is $79.71 and its 200 day moving average is $67.21.

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. New Oriental Education & Technology Group had a net margin of 15.25% and a return on equity of 17.02%. The business had revenue of $486.40 million for the quarter, compared to the consensus estimate of $477.81 million. During the same quarter last year, the business earned $0.29 EPS. New Oriental Education & Technology Group’s revenue for the quarter was up 23.2% compared to the same quarter last year. On average, equities research analysts predict that New Oriental Education & Technology Group, Inc. will post $2.37 earnings per share for the current fiscal year.

The firm also recently disclosed a special dividend, which will be paid on Friday, October 6th. Shareholders of record on Wednesday, September 6th will be given a dividend of $0.45 per share. The ex-dividend date of this dividend is Friday, September 1st. This is a positive change from New Oriental Education & Technology Group’s previous special dividend of $0.40.

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Several research firms have weighed in on EDU. BidaskClub cut New Oriental Education & Technology Group from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, July 25th. Jefferies Group LLC restated a “buy” rating and set a $74.80 target price on shares of New Oriental Education & Technology Group in a research note on Friday, July 14th. Benchmark Co. upped their target price on New Oriental Education & Technology Group from $75.00 to $94.00 and gave the stock a “buy” rating in a research note on Wednesday, July 26th. UBS AG began coverage on New Oriental Education & Technology Group in a research note on Tuesday, August 1st. They set a “buy” rating and a $96.75 target price for the company. Finally, Morgan Stanley began coverage on New Oriental Education & Technology Group in a research note on Friday, August 25th. They set an “overweight” rating and a $100.00 target price for the company. Three analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $79.32.

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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