Wedge Capital Management L L P NC Sells 44,951 Shares of 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 holdings in shares of H&R Block, Inc. (NYSE:HRB - Free Report) by 5.7% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 737,997 shares of the company's stock after selling 44,951 shares during the period. Wedge Capital Management L L P NC owned 0.55% of H&R Block worth $40,509,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Brown Advisory Inc. grew its holdings in shares of H&R Block by 1.6% during the first quarter. Brown Advisory Inc. now owns 11,942 shares of the company's stock valued at $656,000 after buying an additional 191 shares during the last quarter. Bogart Wealth LLC grew its position 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 valued at $37,000 after purchasing an additional 200 shares in the last quarter. Brooklyn Investment Group increased its holdings in shares of H&R Block by 72.1% in the 1st quarter. Brooklyn Investment Group now owns 513 shares of the company's stock worth $28,000 after buying an additional 215 shares during the last quarter. MSH Capital Advisors LLC increased its holdings in shares of H&R Block by 1.3% in the 1st quarter. MSH Capital Advisors LLC now owns 17,767 shares of the company's stock worth $976,000 after buying an additional 230 shares during the last quarter. Finally, Covestor Ltd boosted its stake in shares of H&R Block by 21.8% during the 1st quarter. Covestor Ltd now owns 1,356 shares of the company's stock worth $75,000 after purchasing an additional 243 shares during the period. Institutional investors own 90.14% of the company's stock.

H&R Block Stock Down 0.7%

Shares of HRB traded down $0.33 during mid-day trading on Tuesday, hitting $49.81. The company's stock had a trading volume of 524,426 shares, compared to its average volume of 1,538,869. The company's 50-day moving average is $52.61 and its 200-day moving average is $55.26. H&R Block, Inc. has a 52-week low of $47.00 and a 52-week high of $64.62. The firm has a market capitalization of $6.67 billion, a price-to-earnings ratio of 11.15, a PEG ratio of 0.81 and a beta of 0.26. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 12.86.

H&R Block (NYSE:HRB - Get Free Report) last announced its quarterly earnings results on Tuesday, August 12th. The company reported $2.27 earnings per share for the quarter, missing the consensus estimate 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 business had revenue of $1.11 billion during the quarter, compared to analysts' expectations of $1.07 billion. During the same period in the previous year, the company posted $1.89 EPS. H&R Block's revenue for the quarter 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. On average, equities research analysts forecast that H&R Block, Inc. will post 5.25 EPS for the current fiscal year.

H&R Block Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 6th. Investors of record on Thursday, September 4th will be paid a dividend of $0.42 per share. This is a boost from H&R Block's previous quarterly dividend of $0.38. The ex-dividend date is Thursday, September 4th. This represents a $1.68 annualized dividend and a dividend yield of 3.4%. H&R Block's dividend payout ratio (DPR) is presently 37.58%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the stock. The Goldman Sachs Group dropped their price target 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. 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, Barrington Research reaffirmed an "outperform" rating and set a $62.00 price target on shares of H&R Block in a research note on Tuesday. One equities research analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, H&R Block currently has an average rating of "Hold" and a consensus target price of $55.00.

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.