Wedmont Private Capital Trims Stake in H&R Block, Inc. (NYSE:HRB)

Wedmont Private Capital reduced its holdings in shares of H&R Block, Inc. (NYSE:HRB) by 33.0% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 8,290 shares of the company’s stock after selling 4,081 shares during the period. Wedmont Private Capital’s holdings in H&R Block were worth $388,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Exchange Traded Concepts LLC increased its stake in shares of H&R Block by 91.9% in the fourth quarter. Exchange Traded Concepts LLC now owns 518 shares of the company’s stock worth $25,000 after purchasing an additional 248 shares in the last quarter. Mather Group LLC. bought a new stake in shares of H&R Block in the 1st quarter valued at about $28,000. Cary Street Partners Investment Advisory LLC raised its stake in shares of H&R Block by 1,200.0% during the 3rd quarter. Cary Street Partners Investment Advisory LLC now owns 650 shares of the company’s stock worth $28,000 after acquiring an additional 600 shares in the last quarter. Richardson Financial Services Inc. purchased a new stake in shares of H&R Block in the 4th quarter valued at $37,000. Finally, Assetmark Inc. acquired a new stake in shares of H&R Block in the fourth quarter worth approximately $43,000. 90.14% of the stock is owned by hedge funds and other institutional investors.

H&R Block Trading Up 0.3 %

HRB opened at $53.15 on Friday. H&R Block, Inc. has a 1-year low of $30.66 and a 1-year high of $54.21. The stock has a market capitalization of $7.42 billion, a price-to-earnings ratio of 12.16, a P/E/G ratio of 0.99 and a beta of 0.69. The business has a 50 day moving average of $50.05 and a 200-day moving average of $48.30.

H&R Block (NYSE:HRB) last posted its earnings results on Thursday, May 9th. The company reported $4.94 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.66 by $0.28. H&R Block had a negative return on equity of 224.81% and a net margin of 17.87%. The company had revenue of $2.18 billion during the quarter, compared to analyst estimates of $2.14 billion. During the same period in the previous year, the company earned $4.20 EPS. The company’s revenue for the quarter was up 4.4% compared to the same quarter last year. Equities analysts predict that H&R Block, Inc. will post 4.29 EPS for the current year.

H&R Block Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 3rd. Stockholders of record on Wednesday, June 5th will be issued a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a dividend yield of 2.41%. The ex-dividend date is Wednesday, June 5th. H&R Block’s dividend payout ratio (DPR) is currently 29.29%.

Wall Street Analysts Forecast Growth

HRB has been the topic of several recent analyst reports. Barrington Research upped their price objective on shares of H&R Block from $55.00 to $60.00 and gave the stock an “outperform” rating in a report on Tuesday, May 28th. StockNews.com raised shares of H&R Block from a “hold” rating to a “buy” rating in a research report on Thursday, March 7th.

H&R Block Company Profile

H&R Block, Inc, through its subsidiaries, provides assisted income tax return preparation and do-it-yourself (DIY) tax return preparation services and products to the general public primarily in the United States, Canada, and Australia. It offers assisted income tax return preparation and related services through a system of retail offices operated directly by the company or its franchisees.