Northern Trust Corp Buys 90,384 Shares of New Oriental Education & Technology Group Inc. (NYSE:EDU)

Northern Trust Corp increased its stake in shares of New Oriental Education & Technology Group Inc. (NYSE:EDU) by 265.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 124,469 shares of the company’s stock after acquiring an additional 90,384 shares during the quarter. Northern Trust Corp’s holdings in New Oriental Education & Technology Group were worth $7,988,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. FMR LLC lifted its stake in shares of New Oriental Education & Technology Group by 46.3% in the fourth quarter. FMR LLC now owns 4,539,678 shares of the company’s stock valued at $291,357,000 after buying an additional 1,437,656 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its position in shares of New Oriental Education & Technology Group by 61.3% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 3,894,541 shares of the company’s stock valued at $249,952,000 after purchasing an additional 1,480,391 shares in the last quarter. Schroder Investment Management Group lifted its position in shares of New Oriental Education & Technology Group by 17.2% during the fourth quarter. Schroder Investment Management Group now owns 3,019,859 shares of the company’s stock valued at $193,815,000 after purchasing an additional 442,656 shares in the last quarter. JPMorgan Chase & Co. lifted its position in shares of New Oriental Education & Technology Group by 175.4% during the fourth quarter. JPMorgan Chase & Co. now owns 2,276,762 shares of the company’s stock valued at $146,123,000 after purchasing an additional 1,449,979 shares in the last quarter. Finally, Norges Bank bought a new position in shares of New Oriental Education & Technology Group during the fourth quarter valued at about $92,345,000.

New Oriental Education & Technology Group Stock Performance

NYSE EDU opened at $48.62 on Monday. New Oriental Education & Technology Group Inc. has a 52-week low of $40.66 and a 52-week high of $87.26. The company has a 50-day simple moving average of $47.04 and a 200 day simple moving average of $53.13. The company has a market capitalization of $8.25 billion, a PE ratio of 20.69 and a beta of 0.25.

New Oriental Education & Technology Group (NYSE:EDU) last posted its quarterly earnings data on Wednesday, April 23rd. The company reported $0.70 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.76 by ($0.06). The company had revenue of $1.18 billion for the quarter, compared to analysts’ expectations of $1.24 billion. New Oriental Education & Technology Group had a return on equity of 9.48% and a net margin of 8.13%. The business’s quarterly revenue was down 2.0% on a year-over-year basis. During the same quarter last year, the business posted $0.63 EPS. As a group, analysts forecast that New Oriental Education & Technology Group Inc. will post 2.75 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

EDU has been the topic of a number of recent analyst reports. StockNews.com raised shares of New Oriental Education & Technology Group from a “hold” rating to a “buy” rating in a research report on Monday, May 5th. JPMorgan Chase & Co. decreased their price objective on shares of New Oriental Education & Technology Group from $50.00 to $48.00 and set a “neutral” rating for the company in a report on Monday, April 21st. Citigroup downgraded shares of New Oriental Education & Technology Group from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $83.00 to $50.00 in a report on Friday, January 24th. China Renaissance downgraded shares of New Oriental Education & Technology Group from a “buy” rating to a “hold” rating in a report on Monday, March 24th. Finally, Morgan Stanley downgraded shares of New Oriental Education & Technology Group from an “overweight” rating to an “equal weight” rating and decreased their price objective for the stock from $83.00 to $52.00 in a report on Wednesday, January 22nd. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and two have issued a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $60.80.

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.