New Oriental Education & Technology Group, Inc. $EDU Shares Sold by JPMorgan Chase & Co.

JPMorgan Chase & Co. trimmed its holdings in New Oriental Education & Technology Group, Inc. (NYSE:EDU) by 55.4% in the second quarter, Holdings Channel.com reports. The institutional investor owned 1,329,253 shares of the company’s stock after selling 1,649,095 shares during the quarter. JPMorgan Chase & Co.’s holdings in New Oriental Education & Technology Group were worth $71,713,000 as of its most recent filing with the SEC.

Several other large investors have also modified their holdings of the stock. Bessemer Group Inc. purchased a new position in New Oriental Education & Technology Group during the 2nd quarter worth $37,000. Hantz Financial Services Inc. lifted its position in shares of New Oriental Education & Technology Group by 738.0% during the 2nd quarter. Hantz Financial Services Inc. now owns 905 shares of the company’s stock valued at $49,000 after acquiring an additional 797 shares during the period. Banque Cantonale Vaudoise purchased a new stake in New Oriental Education & Technology Group during the first quarter worth $54,000. Brooklyn Investment Group boosted its position in shares of New Oriental Education & Technology Group by 3,700.0% in the 1st quarter. Brooklyn Investment Group now owns 1,330 shares of the company’s stock worth $64,000 after buying an additional 1,295 shares in the last quarter. Finally, Caitong International Asset Management Co. Ltd acquired a new stake in shares of New Oriental Education & Technology Group in the first quarter valued at approximately $72,000.

Analyst Ratings Changes

A number of research firms recently commented on EDU. Zacks Research lowered New Oriental Education & Technology Group from a “hold” rating to a “strong sell” rating in a research note on Monday, November 3rd. Weiss Ratings restated a “hold (c+)” rating on shares of New Oriental Education & Technology Group in a report on Tuesday. Citigroup cut their price target on shares of New Oriental Education & Technology Group from $77.00 to $75.00 and set a “buy” rating on the stock in a report on Tuesday, September 9th. Bank of America raised their price objective on New Oriental Education & Technology Group from $56.20 to $58.20 and gave the company a “buy” rating in a research report on Monday, September 29th. Finally, JPMorgan Chase & Co. upped their target price on shares of New Oriental Education & Technology Group from $60.00 to $68.00 and gave the company an “overweight” rating in a research note on Wednesday, October 29th. Three investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $59.53.

New Oriental Education & Technology Group Trading Up 0.6%

Shares of EDU opened at $51.14 on Friday. New Oriental Education & Technology Group, Inc. has a 52 week low of $40.66 and a 52 week high of $68.53. The stock has a 50 day moving average of $54.58 and a 200-day moving average of $50.85. The firm has a market cap of $8.08 billion, a price-to-earnings ratio of 22.53, a PEG ratio of 1.27 and a beta of 0.30.

New Oriental Education & Technology Group Dividend Announcement

The firm also recently disclosed a special dividend, which will be paid on Friday, December 5th. Investors of record on Tuesday, November 18th will be given a dividend of $0.60 per share. The ex-dividend date of this dividend is Tuesday, November 18th. New Oriental Education & Technology Group’s dividend payout ratio is currently 25.55%.

New Oriental Education & Technology Group Company Profile

New Oriental Education & Technology Group, Inc is a holding company, which engages in the provision of private educational services. It operates through the following segments: Educational Services and Test Preparation Courses, Private Label Products and Livestreaming E-Commerce, Overseas Study Consulting Services, and Educational Materials and Distribution.