Harvest Fund Management Co. Ltd grew its stake in shares of New Oriental Education & Technology Group, Inc. (NYSE:EDU) by 158.3% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 650,615 shares of the company’s stock after buying an additional 398,696 shares during the quarter. New Oriental Education & Technology Group comprises 6.7% of Harvest Fund Management Co. Ltd’s holdings, making the stock its 5th biggest position. Harvest Fund Management Co. Ltd owned about 0.41% of New Oriental Education & Technology Group worth $45,862,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently added to or reduced their stakes in the business. OppenheimerFunds Inc. raised its position in shares of New Oriental Education & Technology Group by 1.5% during the 1st 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. raised its position in shares of New Oriental Education & Technology Group by 0.6% during the 2nd quarter. Baillie Gifford & Co. now owns 8,264,923 shares of the company’s stock worth $582,594,000 after buying an additional 47,119 shares in the last quarter. BlackRock Inc. raised its position in shares of New Oriental Education & Technology Group by 5,434.7% during the 1st 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 raised its position in shares of New Oriental Education & Technology Group by 16.9% during the 1st 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, Ameriprise Financial Inc. raised its position in shares of New Oriental Education & Technology Group by 633.7% during the 2nd quarter. Ameriprise Financial Inc. now owns 3,377,489 shares of the company’s stock worth $238,074,000 after buying an additional 2,917,183 shares in the last quarter. Institutional investors own 76.33% of the company’s stock.

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A number of analysts have commented on EDU shares. Zacks Investment Research upgraded shares of New Oriental Education & Technology Group from a “hold” rating to a “buy” rating and set a $89.00 price target on the stock in a research report on Tuesday, July 18th. BidaskClub downgraded shares of New Oriental Education & Technology Group from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, July 25th. Morgan Stanley started coverage on shares of New Oriental Education & Technology Group in a research report on Friday, August 25th. They set an “overweight” rating and a $100.00 price target on the stock. UBS AG began coverage on shares of New Oriental Education & Technology Group in a research report on Tuesday, August 1st. They set a “buy” rating and a $96.75 price target on the stock. Finally, J P Morgan Chase & Co downgraded shares of New Oriental Education & Technology Group from a “neutral” rating to an “underweight” rating and set a $82.00 target price on the stock. in a report on Thursday. One investment analyst has rated the stock with a sell rating, two have given a hold rating and nine have given a buy rating to the company’s stock. New Oriental Education & Technology Group presently has an average rating of “Buy” and an average price target of $81.82.

New Oriental Education & Technology Group, Inc. (NYSE:EDU) traded down 1.30% during mid-day trading on Friday, reaching $87.04. 4,129,196 shares of the company’s stock traded hands. New Oriental Education & Technology Group, Inc. has a 1-year low of $37.16 and a 1-year high of $94.30. The firm has a 50-day moving average price of $82.13 and a 200-day moving average price of $70.78. The stock has a market cap of $13.72 billion, a P/E ratio of 50.02 and a beta of 1.37.

New Oriental Education & Technology Group (NYSE:EDU) last issued its quarterly earnings results on Tuesday, July 25th. The company reported $0.35 earnings per share for the quarter, missing the consensus estimate of $0.38 by ($0.03). The business had revenue of $486.40 million for 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%. New Oriental Education & Technology Group’s revenue was up 23.2% compared to the same quarter last year. During the same period in the prior year, the business earned $0.29 earnings per share. Equities research analysts anticipate that New Oriental Education & Technology Group, Inc. will post $2.37 EPS for the current fiscal year.

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

New Oriental Education & Technology Group 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.

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

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