H&R Block, Inc. (NYSE:HRB) Short Interest Down 7.8% in September

H&R Block, Inc. (NYSE:HRB) was the target of a significant drop in short interest in the month of September. As of September 15th, there was short interest totalling 8,790,000 shares, a drop of 7.8% from the August 31st total of 9,530,000 shares. Based on an average daily trading volume, of 1,270,000 shares, the days-to-cover ratio is currently 6.9 days. Currently, 6.4% of the company’s stock are sold short.

H&R Block Stock Performance

NYSE HRB traded down $0.48 on Tuesday, hitting $63.07. 996,331 shares of the company traded hands, compared to its average volume of 1,167,032. The business’s 50 day moving average price is $61.12 and its 200-day moving average price is $54.24. H&R Block has a 52-week low of $39.20 and a 52-week high of $68.45. The company has a current ratio of 1.27, a quick ratio of 1.27 and a debt-to-equity ratio of 16.46. The company has a market capitalization of $8.80 billion, a price-to-earnings ratio of 14.54, a P/E/G ratio of 0.98 and a beta of 0.66.

H&R Block (NYSE:HRB) last announced its quarterly earnings data on Thursday, August 15th. The company reported $1.89 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.74 by $0.15. H&R Block had a negative return on equity of 220.05% and a net margin of 16.49%. The company had revenue of $1.06 billion during the quarter, compared to the consensus estimate of $1.03 billion. During the same period in the previous year, the company posted $2.05 EPS. The firm’s revenue was up 3.0% on a year-over-year basis. Equities analysts expect that H&R Block will post 5.22 earnings per share for the current year.

H&R Block announced that its Board of Directors has initiated a stock repurchase plan on Thursday, August 15th that allows the company to buyback $1.50 billion in outstanding shares. This buyback authorization allows the company to reacquire up to 16.7% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s management believes its shares are undervalued.

H&R Block Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 3rd. Stockholders of record on Thursday, September 5th will be given a dividend of $0.375 per share. This represents a $1.50 annualized dividend and a dividend yield of 2.38%. This is an increase from H&R Block’s previous quarterly dividend of $0.32. The ex-dividend date of this dividend is Thursday, September 5th. H&R Block’s dividend payout ratio (DPR) is presently 34.32%.

Insider Buying and Selling at H&R Block

In related news, CEO Jeffrey J. Jones II sold 9,722 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $63.07, for a total transaction of $613,166.54. Following the sale, the chief executive officer now owns 893,169 shares of the company’s stock, valued at $56,332,168.83. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other H&R Block news, CEO Jeffrey J. Jones II sold 9,722 shares of H&R Block stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $63.07, for a total transaction of $613,166.54. Following the completion of the transaction, the chief executive officer now owns 893,169 shares in the company, valued at $56,332,168.83. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Dara S. Redler sold 9,100 shares of the business’s stock in a transaction on Monday, August 19th. The stock was sold at an average price of $64.10, for a total value of $583,310.00. Following the completion of the sale, the insider now directly owns 22,066 shares in the company, valued at $1,414,430.60. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 115,927 shares of company stock valued at $7,517,056. 1.20% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in HRB. Mather Group LLC. purchased a new stake in H&R Block in the 1st quarter worth $28,000. Richardson Financial Services Inc. bought a new position in H&R Block during the fourth quarter valued at approximately $37,000. Versant Capital Management Inc grew its holdings in H&R Block by 4,152.9% during the 2nd quarter. Versant Capital Management Inc now owns 723 shares of the company’s stock valued at $39,000 after buying an additional 706 shares in the last quarter. Quest Partners LLC increased its stake in H&R Block by 2,756.0% in the 2nd quarter. Quest Partners LLC now owns 714 shares of the company’s stock worth $39,000 after acquiring an additional 689 shares during the last quarter. Finally, Assetmark Inc. purchased a new stake in shares of H&R Block during the 4th quarter worth approximately $43,000. 90.14% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on HRB shares. StockNews.com cut H&R Block from a “buy” rating to a “hold” rating in a report on Friday, August 16th. The Goldman Sachs Group upped their price target on shares of H&R Block from $39.00 to $44.00 and gave the company a “sell” rating in a research report on Friday, August 16th. Finally, Barrington Research reissued an “outperform” rating and issued a $60.00 price objective on shares of H&R Block in a report on Wednesday, August 14th.

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.