New York State Common Retirement Fund Invests $1.89 Million in New Oriental Education & Tech Grp (NYSE:EDU)

New York State Common Retirement Fund acquired a new stake in New Oriental Education & Tech Grp (NYSE:EDU) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 21,000 shares of the company’s stock, valued at approximately $1,892,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Oppenheimer Asset Management Inc. increased its holdings in shares of New Oriental Education & Tech Grp by 20.5% in the 4th quarter. Oppenheimer Asset Management Inc. now owns 5,089 shares of the company’s stock worth $279,000 after buying an additional 866 shares during the last quarter. Advisors Asset Management Inc. increased its holdings in shares of New Oriental Education & Tech Grp by 32.9% in the 4th quarter. Advisors Asset Management Inc. now owns 2,623 shares of the company’s stock worth $144,000 after buying an additional 650 shares during the last quarter. BB&T Securities LLC increased its holdings in shares of New Oriental Education & Tech Grp by 8.9% in the 4th quarter. BB&T Securities LLC now owns 23,154 shares of the company’s stock worth $1,269,000 after buying an additional 1,895 shares during the last quarter. CIBC Private Wealth Group LLC bought a new position in shares of New Oriental Education & Tech Grp in the 4th quarter worth $4,301,000. Finally, Commerzbank Aktiengesellschaft FI increased its holdings in shares of New Oriental Education & Tech Grp by 236.7% in the 4th quarter. Commerzbank Aktiengesellschaft FI now owns 120,079 shares of the company’s stock worth $6,582,000 after buying an additional 84,413 shares during the last quarter. Institutional investors and hedge funds own 86.43% of the company’s stock.

Several equities analysts recently commented on EDU shares. CICC Research raised shares of New Oriental Education & Tech Grp from a “hold” rating to a “buy” rating and set a $92.97 target price on the stock in a report on Wednesday, April 24th. TheStreet raised shares of New Oriental Education & Tech Grp from a “c+” rating to a “b” rating in a report on Thursday, April 25th. Deutsche Bank raised shares of New Oriental Education & Tech Grp from a “hold” rating to a “buy” rating in a report on Tuesday, April 16th. Zacks Investment Research lowered shares of New Oriental Education & Tech Grp from a “strong-buy” rating to a “hold” rating in a report on Monday, April 15th. Finally, Nomura increased their target price on shares of New Oriental Education & Tech Grp from $100.00 to $105.00 and gave the company a “buy” rating in a report on Friday, April 12th. Three equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. New Oriental Education & Tech Grp has a consensus rating of “Buy” and an average price target of $90.37.

EDU stock opened at $90.19 on Friday. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.61 and a current ratio of 1.63. New Oriental Education & Tech Grp has a 52 week low of $50.30 and a 52 week high of $106.72. The firm has a market cap of $12.77 billion, a P/E ratio of 47.16, a price-to-earnings-growth ratio of 0.90 and a beta of 1.61.

New Oriental Education & Tech Grp (NYSE:EDU) last released its earnings results on Tuesday, April 23rd. The company reported $0.69 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.55 by $0.14. The company had revenue of $796.70 million for the quarter, compared to analyst estimates of $788.52 million. New Oriental Education & Tech Grp had a net margin of 8.80% and a return on equity of 14.88%. The firm’s quarterly revenue was up 28.9% compared to the same quarter last year. During the same quarter last year, the firm earned $0.57 EPS. Research analysts expect that New Oriental Education & Tech Grp will post 1.68 earnings per share for the current year.

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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. It operates through Language Training and Test Preparation Courses, and Others segments. The company offers test preparation courses to students taking language and entrance exams used by educational institutions in the United States, the People's Republic of China, and the Commonwealth countries; and after-school tutoring courses for middle and high school students to achieve better scores on entrance exams for admission into high schools or higher education institutions, as well as for children to teach English.

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

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