Wedge Capital Management L L P NC Has $40.51 Million Stock Holdings in H&R Block, Inc. $HRB

Key Points

• Wedge Capital Management L L P NC reduced its stake in H&R Block by 5.7% in the second quarter, owning approximately 737,997 shares valued at $40.5 million as of its latest SEC filing.
• H&R Block's stock price recently opened at $50.27, with a market capitalization of $6.73 billion and a PE ratio of 11.25.
• The company has increased its quarterly dividend to $0.42, representing an annualized dividend of $1.68 and a yield of 3.3%.

Wedge Capital Management L L P NC decreased its position in H&R Block, Inc. (NYSE:HRB - Free Report) by 5.7% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 737,997 shares of the company's stock after selling 44,951 shares during the quarter. Wedge Capital Management L L P NC owned approximately 0.55% of H&R Block worth $40,509,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. SVB Wealth LLC bought a new position in shares of H&R Block in the first quarter worth approximately $26,000. Brooklyn Investment Group lifted its holdings in H&R Block by 72.1% during the 1st quarter. Brooklyn Investment Group now owns 513 shares of the company's stock valued at $28,000 after buying an additional 215 shares in the last quarter. Bogart Wealth LLC lifted its holdings in H&R Block by 42.9% during the 1st quarter. Bogart Wealth LLC now owns 666 shares of the company's stock valued at $37,000 after buying an additional 200 shares in the last quarter. Covestor Ltd lifted its holdings in H&R Block by 21.8% during the 1st quarter. Covestor Ltd now owns 1,356 shares of the company's stock valued at $75,000 after buying an additional 243 shares in the last quarter. Finally, Harbor Capital Advisors Inc. raised its holdings in shares of H&R Block by 133.3% in the 2nd quarter. Harbor Capital Advisors Inc. now owns 1,409 shares of the company's stock valued at $77,000 after purchasing an additional 805 shares in the last quarter. Institutional investors own 90.14% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on HRB. Barrington Research cut their price objective on shares of H&R Block from $70.00 to $62.00 and set an "outperform" rating on the stock in a research report on Wednesday, August 13th. Zacks Research cut shares of H&R Block from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, August 13th. Finally, The Goldman Sachs Group decreased 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 investment analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $55.00.

H&R Block Stock Down 0.1%

NYSE:HRB traded down $0.06 during mid-day trading on Monday, hitting $50.21. The stock had a trading volume of 1,340,105 shares, compared to its average volume of 1,544,672. The company has a market capitalization of $6.73 billion, a PE ratio of 11.23, a PEG ratio of 0.81 and a beta of 0.26. H&R Block, Inc. has a twelve month low of $47.00 and a twelve month high of $64.90. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 12.86. The stock has a 50-day simple moving average of $52.73 and a two-hundred day simple moving average of $55.29.

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

H&R Block Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, October 6th. Shareholders of record on Thursday, September 4th will be issued a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a yield of 3.3%. The ex-dividend date of this dividend is Thursday, September 4th. This is a positive change from H&R Block's previous quarterly dividend of $0.38. H&R Block's dividend payout ratio is currently 37.58%.

H&R Block Profile

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.