Mackenzie Financial Corp Sells 31,996 Shares of H&R Block, Inc. (NYSE:HRB)

Key Points

• Mackenzie Financial Corp reduced its stake in H&R Block by 54.6% during the first quarter, selling 31,996 shares and leaving it with 26,557 shares valued at approximately $1.46 million.
• Several institutional investors have increased their holdings in H&R Block, with Bogart Wealth LLC up by 42.9% and GAMMA Investing LLC increasing their stake by 129.2%.
• H&R Block reported $5.38 earnings per share (EPS) for the last quarter, surpassing estimates, and had a revenue of $2.28 billion, reflecting a 4.2% year-over-year increase.

Mackenzie Financial Corp cut its stake in H&R Block, Inc. (NYSE:HRB - Free Report) by 54.6% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 26,557 shares of the company's stock after selling 31,996 shares during the period. Mackenzie Financial Corp's holdings in H&R Block were worth $1,458,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. Bogart Wealth LLC increased its stake in H&R Block by 42.9% in the first quarter. Bogart Wealth LLC now owns 666 shares of the company's stock valued at $37,000 after purchasing an additional 200 shares in the last quarter. GAMMA Investing LLC boosted its holdings in H&R Block by 129.2% during the first quarter. GAMMA Investing LLC now owns 1,508 shares of the company's stock worth $83,000 after purchasing an additional 850 shares during the last quarter. GeoWealth Management LLC boosted its holdings in H&R Block by 87.0% during the fourth quarter. GeoWealth Management LLC now owns 1,612 shares of the company's stock worth $85,000 after purchasing an additional 750 shares during the last quarter. Kapitalo Investimentos Ltda bought a new stake in H&R Block during the fourth quarter worth $85,000. Finally, CIBC Private Wealth Group LLC raised its position in H&R Block by 11.0% during the fourth quarter. CIBC Private Wealth Group LLC now owns 2,646 shares of the company's stock worth $144,000 after acquiring an additional 263 shares in the last quarter. 90.14% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts recently commented on the stock. Northcoast Research lowered shares of H&R Block from a "buy" rating to a "neutral" rating in a research report on Friday, May 2nd. The Goldman Sachs Group lifted their target price on shares of H&R Block from $49.00 to $54.00 and gave the stock a "sell" rating in a research report on Thursday, May 8th. Barrington Research reiterated an "outperform" rating and set a $70.00 target price on shares of H&R Block in a research report on Friday, April 25th. Finally, Wall Street Zen upgraded shares of H&R Block from a "hold" rating to a "buy" rating in a report on Friday, May 9th.

H&R Block Stock Performance

Shares of NYSE:HRB opened at $55.00 on Tuesday. The company's 50-day moving average is $55.80 and its 200 day moving average is $55.78. The company has a market capitalization of $7.36 billion, a P/E ratio of 13.48, a price-to-earnings-growth ratio of 0.85 and a beta of 0.24. H&R Block, Inc. has a fifty-two week low of $49.16 and a fifty-two week high of $68.45.

H&R Block (NYSE:HRB - Get Free Report) last announced its quarterly earnings data on Wednesday, May 7th. The company reported $5.38 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $5.12 by $0.26. H&R Block had a negative return on equity of 179.57% and a net margin of 15.20%. The business had revenue of $2.28 billion for the quarter, compared to analysts' expectations of $2.25 billion. During the same period in the previous year, the business posted $4.94 EPS. The firm's quarterly revenue was up 4.2% compared to the same quarter last year. As a group, research analysts predict that H&R Block, Inc. will post 5.25 earnings per share for the current year.

About H&R Block

H&R Block, Inc engages in the provision of tax return preparation solutions, financial products and small business solutions. The company was founded by Henry W. Bloch and Richard A. Bloch on January 25, 1955, and is headquartered in Kansas City, MO.

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