Taylor Hoffman Capital Management LLC Takes Position in H&R Block, Inc. (NYSE:HRB)

Key Points

• Taylor Hoffman Capital Management LLC has purchased 4,972 shares of H&R Block, valued at approximately $280,000, indicating growing investor interest in the company.
• Institutional investors now hold 90.14% of H&R Block's stock, with several firms increasing their positions significantly during the first quarter of the year.
• H&R Block's stock performance shows a one-year range from a low of $49.16 to a high of $68.45, currently trading at around $54.52.

Taylor Hoffman Capital Management LLC acquired a new stake in shares of H&R Block, Inc. (NYSE:HRB - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 4,972 shares of the company's stock, valued at approximately $280,000.

Other hedge funds have also recently modified their holdings of the company. Allspring Global Investments Holdings LLC grew its position in shares of H&R Block by 98.1% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 100,601 shares of the company's stock valued at $5,667,000 after acquiring an additional 49,827 shares during the period. Truist Financial Corp boosted its holdings in H&R Block by 13.5% in the 1st quarter. Truist Financial Corp now owns 767,369 shares of the company's stock worth $42,136,000 after buying an additional 91,075 shares during the period. Envestnet Asset Management Inc. boosted its holdings in H&R Block by 17.7% in the 1st quarter. Envestnet Asset Management Inc. now owns 703,672 shares of the company's stock worth $38,639,000 after buying an additional 105,973 shares during the period. Asset Management One Co. Ltd. bought a new position in H&R Block in the 1st quarter worth $1,317,000. Finally, Brown Advisory Inc. boosted its holdings in H&R Block by 1.6% in the 1st quarter. Brown Advisory Inc. now owns 11,942 shares of the company's stock worth $656,000 after buying an additional 191 shares during the period. Institutional investors own 90.14% of the company's stock.

Analyst Ratings Changes

Several brokerages recently weighed in on HRB. Barrington Research dropped their target price on shares of H&R Block from $70.00 to $62.00 and set an "outperform" rating for the company in a report on Wednesday. Wall Street Zen raised shares of H&R Block from a "hold" rating to a "buy" rating in a report on Friday, May 9th. Northcoast Research downgraded shares of H&R Block from a "buy" rating to a "neutral" rating in a report on Friday, May 2nd. Finally, The Goldman Sachs Group decreased their price target on shares of H&R Block from $54.00 to $48.00 and set a "sell" rating on the stock in a research note on Wednesday.

H&R Block Stock Down 3.0%

HRB stock traded down $1.56 during mid-day trading on Wednesday, hitting $49.94. The company had a trading volume of 6,244,730 shares, compared to its average volume of 1,112,316. The company has a market capitalization of $6.69 billion, a price-to-earnings ratio of 11.17, a P/E/G ratio of 0.81 and a beta of 0.24. H&R Block, Inc. has a 12-month low of $47.00 and a 12-month high of $68.45. The company has a 50-day moving average price of $55.27 and a 200 day moving average price of $55.75.

H&R Block (NYSE:HRB - Get Free Report) last announced its quarterly earnings results on Tuesday, August 12th. The company reported $2.27 EPS for the quarter, missing the consensus estimate of $2.81 by ($0.54). The company had revenue of $1.11 billion during the quarter, compared to analysts' expectations of $1.07 billion. H&R Block had a negative return on equity of 134.63% and a net margin of 16.11%. The firm's revenue for the quarter was up 4.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.89 EPS. As a group, analysts expect that H&R Block, Inc. will post 5.25 EPS for the current year.

H&R Block Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, October 6th. Shareholders of record on Thursday, September 4th will be paid a $0.42 dividend. This represents a $1.68 annualized dividend and a yield of 3.4%. The ex-dividend date is Thursday, September 4th. This is an increase from H&R Block's previous quarterly dividend of $0.38. H&R Block's dividend payout ratio is presently 36.76%.

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.