196,500 Shares in New Oriental Education & Technology Group Inc. (NYSE:EDU) Acquired by BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp purchased a new position in shares of New Oriental Education & Technology Group Inc. (NYSE:EDU) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 196,500 shares of the company’s stock, valued at approximately $15,274,000.

Other large investors also recently added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD acquired a new position in New Oriental Education & Technology Group during the 1st quarter worth about $103,392,000. Healthcare of Ontario Pension Plan Trust Fund grew its holdings in shares of New Oriental Education & Technology Group by 141.4% in the fourth quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,608,792 shares of the company’s stock valued at $117,892,000 after purchasing an additional 942,392 shares in the last quarter. Farallon Capital Management LLC grew its holdings in shares of New Oriental Education & Technology Group by 139.0% in the second quarter. Farallon Capital Management LLC now owns 1,469,590 shares of the company’s stock valued at $114,231,000 after purchasing an additional 854,590 shares in the last quarter. Goldman Sachs Group Inc. increased its stake in New Oriental Education & Technology Group by 37.4% during the 4th quarter. Goldman Sachs Group Inc. now owns 2,374,408 shares of the company’s stock worth $173,997,000 after buying an additional 646,122 shares during the period. Finally, Wellington Management Group LLP acquired a new stake in New Oriental Education & Technology Group during the 4th quarter worth approximately $27,580,000.

Analysts Set New Price Targets

EDU has been the topic of a number of recent research reports. Citigroup cut their price objective on New Oriental Education & Technology Group from $127.00 to $106.00 and set a “buy” rating on the stock in a research report on Friday, August 2nd. HSBC initiated coverage on New Oriental Education & Technology Group in a report on Wednesday, May 29th. They set a “buy” rating and a $110.00 price target on the stock. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $103.67.

New Oriental Education & Technology Group Trading Up 7.9 %

Shares of NYSE:EDU opened at $65.00 on Wednesday. New Oriental Education & Technology Group Inc. has a 52 week low of $53.44 and a 52 week high of $98.20. The company’s 50 day moving average is $66.00 and its two-hundred day moving average is $76.71. The company has a market cap of $11.03 billion, a PE ratio of 34.95 and a beta of 0.46.

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

New Oriental Education & Technology Group Dividend Announcement

The firm also recently announced a — dividend, which was paid on Monday, September 23rd. Stockholders of record on Monday, September 9th were given a dividend of $0.58 per share. The ex-dividend date of this dividend was 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.