Redwood Investment Management LLC Sells 9,798 Shares of H&R Block, Inc. $HRB

Key Points

• Redwood Investment Management LLC reduced its stake in H&R Block by 9.6%, now holding 92,654 shares, which constitutes 0.6% of its investment portfolio.
• H&R Block announced a quarterly dividend increase from $0.38 to $0.42, representing an annualized dividend of $1.68 and a yield of 3.2%.
• The company's latest earnings report revealed an EPS of $2.27, missing consensus estimates of $2.81, while revenue saw a 4.6% year-over-year increase.

Redwood Investment Management LLC cut its position in shares of H&R Block, Inc. (NYSE:HRB - Free Report) by 9.6% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 92,654 shares of the company's stock after selling 9,798 shares during the quarter. H&R Block makes up 0.6% of Redwood Investment Management LLC's investment portfolio, making the stock its 26th largest position. Redwood Investment Management LLC owned about 0.07% of H&R Block worth $5,088,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. SVB Wealth LLC purchased a new stake in shares of H&R Block during the first quarter worth about $26,000. Brooklyn Investment Group grew its holdings in shares of H&R Block by 72.1% during the first quarter. Brooklyn Investment Group now owns 513 shares of the company's stock worth $28,000 after buying an additional 215 shares in the last quarter. Bogart Wealth LLC grew its holdings in shares of H&R Block by 42.9% during the first quarter. Bogart Wealth LLC now owns 666 shares of the company's stock worth $37,000 after buying an additional 200 shares in the last quarter. Covestor Ltd grew its holdings in shares of H&R Block by 21.8% during the first quarter. Covestor Ltd now owns 1,356 shares of the company's stock worth $75,000 after buying an additional 243 shares in the last quarter. Finally, GAMMA Investing LLC grew its holdings in shares of 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 buying an additional 850 shares in the last quarter. 90.14% of the stock is currently owned by hedge funds and other institutional investors.

H&R Block Stock Up 0.5%

NYSE:HRB traded up $0.23 during mid-day trading on Friday, reaching $50.36. The stock had a trading volume of 2,240,143 shares, compared to its average volume of 2,069,680. The business's 50 day moving average is $54.08 and its 200 day moving average is $55.49. H&R Block, Inc. has a fifty-two week low of $47.00 and a fifty-two week high of $64.90. The stock has a market cap of $6.75 billion, a P/E ratio of 11.27, a PEG ratio of 0.82 and a beta of 0.24. The company has a debt-to-equity ratio of 12.86, a current ratio of 0.90 and a quick ratio of 0.90.

H&R Block (NYSE:HRB - Get Free Report) last released its quarterly earnings data on Tuesday, August 12th. The company reported $2.27 EPS for the quarter, missing analysts' consensus estimates of $2.81 by ($0.54). H&R Block had a negative return on equity of 191.38% and a net margin of 16.11%.The firm had revenue of $1.11 billion during the quarter, compared to analyst estimates of $1.07 billion. During the same quarter in the prior year, the company posted $1.89 EPS. The company's quarterly revenue was up 4.6% on a year-over-year basis. H&R Block has set its FY 2026 guidance at 4.850-5.000 EPS. As a group, sell-side analysts predict that H&R Block, Inc. will post 5.25 earnings per share for the current year.

H&R Block Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 6th. Stockholders of record on Thursday, September 4th will be given a $0.42 dividend. This is a positive change from H&R Block's previous quarterly dividend of $0.38. This represents a $1.68 annualized dividend and a dividend yield of 3.3%. The ex-dividend date of this dividend is Thursday, September 4th. H&R Block's dividend payout ratio (DPR) is currently 33.56%.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on HRB. Wall Street Zen upgraded shares of H&R Block from a "hold" rating to a "buy" rating in a report on Friday, May 9th. Zacks Research cut shares of H&R Block from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, August 13th. Barrington Research cut their price target on shares of H&R Block from $70.00 to $62.00 and set an "outperform" rating on the stock in a report on Wednesday, August 13th. Finally, The Goldman Sachs Group lowered their target price on shares of H&R Block from $54.00 to $48.00 and set a "sell" rating for the company in a research note on Wednesday, August 13th. One equities research analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, H&R Block has an average rating of "Hold" and a consensus price target of $55.00.

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.