Tobam Raises Stake in New Oriental Education & Tech Grp (EDU)

Tobam increased its stake in New Oriental Education & Tech Grp (NYSE:EDU) by 6.9% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 792,717 shares of the company’s stock after buying an additional 51,440 shares during the period. New Oriental Education & Tech Grp accounts for approximately 1.8% of Tobam’s holdings, making the stock its 17th largest position. Tobam owned 0.50% of New Oriental Education & Tech Grp worth $47,864,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Sumitomo Mitsui Trust Holdings Inc. boosted its stake in shares of New Oriental Education & Tech Grp by 5.1% in the third quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 387,379 shares of the company’s stock valued at $17,959,000 after buying an additional 18,828 shares in the last quarter. Sumitomo Mitsui Asset Management Company LTD boosted its stake in shares of New Oriental Education & Tech Grp by 334.0% in the third quarter. Sumitomo Mitsui Asset Management Company LTD now owns 144,513 shares of the company’s stock valued at $6,699,000 after buying an additional 111,213 shares in the last quarter. Public Employees Retirement Association of Colorado boosted its stake in shares of New Oriental Education & Tech Grp by 19.6% in the third quarter. Public Employees Retirement Association of Colorado now owns 491,500 shares of the company’s stock valued at $22,786,000 after buying an additional 80,500 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in shares of New Oriental Education & Tech Grp by 2.4% in the third quarter. Bank of New York Mellon Corp now owns 160,551 shares of the company’s stock valued at $7,443,000 after buying an additional 3,773 shares in the last quarter. Finally, PNC Financial Services Group Inc. boosted its stake in shares of New Oriental Education & Tech Grp by 40.1% in the third quarter. PNC Financial Services Group Inc. now owns 3,237 shares of the company’s stock valued at $149,000 after buying an additional 926 shares in the last quarter. Institutional investors own 76.14% of the company’s stock.

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

New Oriental Education & Tech Grp (NYSE:EDU) traded up 5.38% on Friday, reaching $71.70. 1,576,816 shares of the company’s stock traded hands. New Oriental Education & Tech Grp has a 12-month low of $37.16 and a 12-month high of $76.18. The stock has a market cap of $11.30 billion, a price-to-earnings ratio of 43.22 and a beta of 1.29. The stock has a 50 day moving average price of $64.48 and a 200 day moving average price of $52.94.

New Oriental Education & Tech Grp (NYSE:EDU) last released its quarterly earnings data on Monday, April 24th. The company reported $0.43 EPS for the quarter, beating the consensus estimate of $0.42 by $0.01. The business had revenue of $437.90 million for the quarter, compared to the consensus estimate of $418.67 million. New Oriental Education & Tech Grp had a net margin of 14.96% and a return on equity of 16.46%. The business’s revenue for the quarter was up 26.2% on a year-over-year basis. During the same period in the prior year, the firm earned $0.34 EPS. Analysts forecast that New Oriental Education & Tech Grp will post $1.85 EPS for the current year.

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EDU has been the topic of several research reports. Bank of America Corp initiated coverage on shares of New Oriental Education & Tech Grp in a report on Tuesday, January 24th. They issued a “neutral” rating on the stock. Benchmark Co. started coverage on shares of New Oriental Education & Tech Grp in a report on Tuesday, April 18th. They issued a “buy” rating and a $75.00 target price on the stock. Jefferies Group LLC reiterated a “buy” rating and issued a $74.80 price target on shares of New Oriental Education & Tech Grp in a research report on Tuesday, April 25th. Zacks Investment Research upgraded shares of New Oriental Education & Tech Grp from a “hold” rating to a “buy” rating and set a $70.00 price target on the stock in a research report on Tuesday, April 25th. Finally, Goldman Sachs Group Inc upgraded shares of New Oriental Education & Tech Grp from a “neutral” rating to a “buy” rating in a research report on Tuesday. Three investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $64.54.

New Oriental Education & Tech Grp 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.

12 Month Chart for NYSE:EDU

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