Massachusetts Financial Services Co. MA Increases Holdings in New Oriental Education & Technology Group Inc. (NYSE:EDU)

Massachusetts Financial Services Co. MA increased its stake in New Oriental Education & Technology Group Inc. (NYSE:EDU) by 12.3% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 88,435 shares of the company’s stock after acquiring an additional 9,658 shares during the period. Massachusetts Financial Services Co. MA owned approximately 0.05% of New Oriental Education & Technology Group worth $6,874,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in EDU. Beverly Hills Private Wealth LLC lifted its position in New Oriental Education & Technology Group by 5.7% in the second quarter. Beverly Hills Private Wealth LLC now owns 4,192 shares of the company’s stock worth $326,000 after buying an additional 227 shares during the last quarter. Thornburg Investment Management Inc. grew its holdings in New Oriental Education & Technology Group by 211.7% during the 2nd quarter. Thornburg Investment Management Inc. now owns 553,694 shares of the company’s stock valued at $43,058,000 after purchasing an additional 376,036 shares during the last quarter. Ashton Thomas Private Wealth LLC purchased a new stake in New Oriental Education & Technology Group in the 2nd quarter worth about $50,000. Victory Capital Management Inc. lifted its stake in New Oriental Education & Technology Group by 25.6% in the second quarter. Victory Capital Management Inc. now owns 334,948 shares of the company’s stock worth $26,036,000 after purchasing an additional 68,321 shares during the last quarter. Finally, Fiera Capital Corp purchased a new position in shares of New Oriental Education & Technology Group during the second quarter valued at approximately $3,332,000.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on EDU shares. HSBC started coverage on New Oriental Education & Technology Group in a research report on Wednesday, May 29th. They issued a “buy” rating and a $110.00 price objective on the stock. Citigroup reduced their price target on shares of New Oriental Education & Technology Group from $127.00 to $106.00 and set a “buy” rating on the stock in a research note on Friday, August 2nd. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, New Oriental Education & Technology Group presently has an average rating of “Moderate Buy” and an average price target of $103.67.

New Oriental Education & Technology Group Stock Up 0.7 %

Shares of NYSE EDU opened at $62.75 on Friday. New Oriental Education & Technology Group Inc. has a twelve month low of $53.44 and a twelve month high of $98.20. The business has a fifty day simple moving average of $66.46 and a two-hundred day simple moving average of $77.22. The firm has a market cap of $10.65 billion, a PE ratio of 33.74 and a beta of 0.46.

New Oriental Education & Technology Group (NYSE:EDU) last issued its earnings results on Wednesday, July 31st. The company reported $0.10 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.29 by ($0.19). New Oriental Education & Technology Group had a return on equity of 7.50% and a net margin of 7.18%. The business had revenue of $1.14 billion for the quarter, compared to the consensus estimate of $1.14 billion. On average, research analysts expect that New Oriental Education & Technology Group Inc. will post 2.83 earnings per share for the current year.

New Oriental Education & Technology Group Announces Dividend

The business also recently announced a — dividend, which will be paid on Monday, September 23rd. Shareholders of record on Monday, September 9th will be issued a dividend of $0.58 per share. The ex-dividend date is Monday, September 9th.

New Oriental Education & Technology Group Profile

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 four segments: Educational Services and Test Preparation Courses; Online Education and Other Services; Overseas Study Consulting Services; and Educational Materials and Distribution.