Sterneck Capital Management LLC Continues to Hold Stake in H&R Block, Inc. (HRB)

Sterneck Capital Management LLC held its position in H&R Block, Inc. (NYSE:HRB) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 12,181 shares of the company’s stock at the end of the first quarter. Sterneck Capital Management LLC’s holdings in H&R Block were worth $283,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Nomura Holdings Inc. boosted its position in H&R Block by 186.2% in the first quarter. Nomura Holdings Inc. now owns 119,523 shares of the company’s stock valued at $2,779,000 after buying an additional 77,759 shares during the period. Signaturefd LLC bought a new position in H&R Block during the first quarter valued at $227,000. State Street Corp boosted its position in H&R Block by 6.3% in the first quarter. State Street Corp now owns 10,668,894 shares of the company’s stock valued at $248,052,000 after buying an additional 636,772 shares during the period. Two Sigma Securities LLC bought a new position in H&R Block during the first quarter valued at $214,000. Finally, Schwab Charles Investment Management Inc. boosted its position in H&R Block by 1.7% in the first quarter. Schwab Charles Investment Management Inc. now owns 979,093 shares of the company’s stock valued at $22,764,000 after buying an additional 15,920 shares during the period. Hedge funds and other institutional investors own 94.19% of the company’s stock.

Institutional Ownership by Quarter for H&R Block (NYSE:HRB)

H&R Block, Inc. (HRB) traded down 1.67% during midday trading on Tuesday, reaching $30.11. 5,388,111 shares of the company traded hands. H&R Block, Inc. has a 12-month low of $19.85 and a 12-month high of $30.77. The stock has a market capitalization of $6.24 billion, a P/E ratio of 15.81 and a beta of 0.58. The company has a 50 day moving average of $26.43 and a 200-day moving average of $23.69.

H&R Block (NYSE:HRB) last posted its quarterly earnings results on Tuesday, June 13th. The company reported $3.76 EPS for the quarter, topping analysts’ consensus estimates of $3.53 by $0.23. The business had revenue of $2.33 billion during the quarter, compared to analysts’ expectations of $2.32 billion. H&R Block had a net margin of 13.47% and a negative return on equity of 104.14%. The business’s quarterly revenue was up 1.3% on a year-over-year basis. During the same period last year, the company posted $3.16 earnings per share. Equities analysts anticipate that H&R Block, Inc. will post $1.99 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Monday, July 3rd. Investors of record on Friday, June 23rd will be given a dividend of $0.24 per share. This is a positive change from H&R Block’s previous quarterly dividend of $0.22. This represents a $0.96 dividend on an annualized basis and a dividend yield of 3.19%. The ex-dividend date is Wednesday, June 21st. H&R Block’s dividend payout ratio (DPR) is presently 43.78%.

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A number of research firms have commented on HRB. Barrington Research lifted their target price on shares of H&R Block from $28.00 to $32.00 and gave the stock an “outperform” rating in a report on Monday. BMO Capital Markets lifted their target price on shares of H&R Block from $26.00 to $31.00 and gave the stock a “market perform” rating in a report on Friday. Credit Suisse Group reaffirmed a “neutral” rating and set a $29.00 target price (up previously from $27.00) on shares of H&R Block in a report on Wednesday, June 14th. Morgan Stanley lifted their target price on shares of H&R Block from $24.00 to $27.00 and gave the stock an “equal weight” rating in a report on Wednesday, June 14th. Finally, BTIG Research lifted their target price on shares of H&R Block from $17.00 to $19.00 and gave the stock a “sell” rating in a report on Wednesday, June 14th. One analyst has rated the stock with a sell rating, five have issued a hold rating and four have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $27.67.

In related news, Director Tom D. Seip sold 6,300 shares of the firm’s stock in a transaction dated Thursday, June 15th. The shares were sold at an average price of $29.84, for a total transaction of $187,992.00. Following the transaction, the director now directly owns 91,071 shares of the company’s stock, valued at $2,717,558.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.30% of the stock is owned by company insiders.

About H&R Block

H&R Block, Inc (H&R Block), through its subsidiaries, provides tax preparation and other services. The Company provides assisted income tax return preparation, digital do-it-yourself (DIY) tax solutions and other services and products related to income tax return preparation to the general public primarily in the United States, Canada, Australia and their respective territories.

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