New Oriental Education & Tech Grp (EDU) Position Reduced by Handelsbanken Fonder AB

Share on StockTwits

Handelsbanken Fonder AB lowered its holdings in shares of New Oriental Education & Tech Grp (NYSE:EDU) by 43.6% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 123,000 shares of the company’s stock after selling 95,000 shares during the period. Handelsbanken Fonder AB owned approximately 0.08% of New Oriental Education & Tech Grp worth $10,781,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. BlackRock Inc. grew its stake in New Oriental Education & Tech Grp by 8.7% during the first quarter. BlackRock Inc. now owns 6,510,533 shares of the company’s stock worth $570,647,000 after purchasing an additional 519,686 shares during the period. JPMorgan Chase & Co. grew its stake in New Oriental Education & Tech Grp by 6.8% during the first quarter. JPMorgan Chase & Co. now owns 2,600,677 shares of the company’s stock worth $227,947,000 after purchasing an additional 166,047 shares during the period. Wells Fargo & Company MN grew its stake in New Oriental Education & Tech Grp by 3.0% during the first quarter. Wells Fargo & Company MN now owns 2,394,634 shares of the company’s stock worth $209,890,000 after purchasing an additional 69,588 shares during the period. FIL Ltd grew its stake in New Oriental Education & Tech Grp by 2.2% during the first quarter. FIL Ltd now owns 2,304,022 shares of the company’s stock worth $201,948,000 after purchasing an additional 49,513 shares during the period. Finally, Deutsche Bank AG grew its stake in New Oriental Education & Tech Grp by 6.8% during the fourth quarter. Deutsche Bank AG now owns 1,625,170 shares of the company’s stock worth $152,764,000 after purchasing an additional 103,612 shares during the period. 85.93% of the stock is owned by institutional investors and hedge funds.

Shares of New Oriental Education & Tech Grp opened at $105.69 on Wednesday, Marketbeat reports. New Oriental Education & Tech Grp has a 52 week low of $69.91 and a 52 week high of $108.40. The company has a market capitalization of $14.97 billion, a price-to-earnings ratio of 60.74, a PEG ratio of 1.33 and a beta of 1.30.

New Oriental Education & Tech Grp (NYSE:EDU) last announced its quarterly earnings data on Tuesday, April 24th. The company reported $0.57 EPS for the quarter, beating the Zacks’ consensus estimate of $0.54 by $0.03. New Oriental Education & Tech Grp had a return on equity of 15.23% and a net margin of 12.83%. The firm had revenue of $618.10 million during the quarter, compared to analysts’ expectations of $601.84 million. During the same quarter last year, the firm posted $0.48 earnings per share. The company’s revenue for the quarter was up 41.2% compared to the same quarter last year. equities research analysts expect that New Oriental Education & Tech Grp will post 1.82 EPS for the current fiscal year.

Several research firms recently commented on EDU. JPMorgan Chase & Co. raised their target price 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. ValuEngine cut New Oriental Education & Tech Grp from a “buy” rating to a “hold” rating in a research note on Thursday, May 31st. CLSA cut New Oriental Education & Tech Grp from an “outperform” rating to an “underperform” rating in a research note on Thursday, May 24th. Finally, Zacks Investment Research raised New Oriental Education & Tech Grp from a “hold” rating to a “buy” rating and set a $103.00 price objective for the company in a research note on Tuesday, March 27th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have assigned a buy rating to the stock. New Oriental Education & Tech Grp presently has an average rating of “Buy” and a consensus target price of $103.51.

About New Oriental Education & Tech Grp

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.

Want to see what other hedge funds are holding EDU? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for New Oriental Education & Tech Grp (NYSE:EDU).

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

Receive News & Ratings for New Oriental Education & Tech Grp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for New Oriental Education & Tech Grp and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply