TD Asset Management Inc. raised its stake in shares of New Oriental Education & Technology Group, Inc. (NYSE:EDU) by 3.2% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 9,673 shares of the company’s stock after buying an additional 300 shares during the period. TD Asset Management Inc.’s holdings in New Oriental Education & Technology Group were worth $682,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of the stock. Tower Research Capital LLC TRC raised its position 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 last quarter. Advisors Preferred LLC acquired a new position in shares of New Oriental Education & Technology Group during the first quarter valued at $147,000. Raymond James Financial Services Advisors Inc. acquired a new position in shares of New Oriental Education & Technology Group during the first quarter valued at $205,000. Timber Hill LLC acquired a new position in shares of New Oriental Education & Technology Group during the first quarter valued at $220,000. Finally, Atria Investments LLC acquired a new position in shares of New Oriental Education & Technology Group during the second quarter valued at $240,000. 76.33% of the stock is currently owned by hedge funds and other institutional investors.

New Oriental Education & Technology Group, Inc. (NYSE:EDU) opened at 78.31 on Wednesday. The stock has a 50 day moving average of $79.71 and a 200-day moving average of $67.21. New Oriental Education & Technology Group, Inc. has a 52-week low of $37.16 and a 52-week high of $86.88. The company has a market cap of $12.35 billion, a price-to-earnings ratio of 45.01 and a beta of 1.40.

New Oriental Education & Technology Group (NYSE:EDU) last issued its earnings results on Tuesday, July 25th. The company reported $0.35 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.38 by $0.03. The firm 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 net margin of 15.25% and a return on equity of 17.02%. The business’s quarterly revenue was up 23.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.29 earnings per share. On average, analysts forecast that New Oriental Education & Technology Group, Inc. will post $2.37 EPS for the current year.

The company also recently announced a special dividend, which will be paid on Friday, October 6th. Shareholders of record on Wednesday, September 6th will be paid a $0.45 dividend. The ex-dividend date 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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A number of equities analysts have recently commented on the stock. Benchmark Co. lifted their price target on shares of New Oriental Education & Technology Group from $75.00 to $94.00 and gave the company a “buy” rating in a research report on Wednesday, July 26th. Jefferies Group LLC reissued a “buy” rating and issued a $74.80 price target on shares of New Oriental Education & Technology Group in a research report on Friday, July 14th. Zacks Investment Research lowered shares of New Oriental Education & Technology Group from a “strong-buy” rating to a “hold” rating in a research report on Friday, July 28th. UBS AG assumed coverage on shares of New Oriental Education & Technology Group in a research report on Tuesday, August 1st. They issued a “buy” rating and a $96.75 price target on the stock. Finally, J P Morgan Chase & Co reissued a “neutral” rating and issued a $62.00 price target on shares of New Oriental Education & Technology Group in a research report on Wednesday, May 17th. Three analysts have rated the stock with a hold rating and nine have given a buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $79.32.

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.

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

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