First Manhattan Co. Decreases Position in H&R Block, Inc. (HRB)

First Manhattan Co. lowered its position in shares of H&R Block, Inc. (NYSE:HRB) by 8.4% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 172,080 shares of the company’s stock after selling 15,870 shares during the quarter. First Manhattan Co. owned 0.08% of H&R Block worth $4,556,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Pinebridge Investments L.P. bought a new position in H&R Block during the second quarter valued at about $114,000. Victory Capital Management Inc. boosted its stake in H&R Block by 7.9% during the second quarter. Victory Capital Management Inc. now owns 4,064 shares of the company’s stock valued at $126,000 after buying an additional 296 shares in the last quarter. ARP Americas LLC bought a new position in H&R Block during the second quarter valued at about $210,000. Profund Advisors LLC bought a new position in H&R Block during the second quarter valued at about $215,000. Finally, Bath Savings Trust Co bought a new position in H&R Block during the second quarter valued at about $215,000. 91.25% of the stock is owned by institutional investors and hedge funds.

Several research analysts recently weighed in on the company. BidaskClub raised H&R Block from a “hold” rating to a “buy” rating in a research note on Wednesday, August 16th. ValuEngine cut H&R Block from a “buy” rating to a “hold” rating in a research note on Friday, September 22nd. BMO Capital Markets reaffirmed a “market perform” rating and set a $31.00 target price on shares of H&R Block in a report on Thursday, August 31st. Zacks Investment Research raised H&R Block from a “sell” rating to a “hold” rating in a report on Wednesday, September 13th. Finally, Credit Suisse Group reaffirmed a “neutral” rating and set a $30.00 target price (up from $29.00) on shares of H&R Block in a report on Wednesday, August 30th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and two have assigned a buy rating to the stock. H&R Block has an average rating of “Hold” and an average target price of $26.67.

H&R Block (NYSE:HRB) last announced its quarterly earnings data on Tuesday, August 29th. The company reported ($0.62) EPS for the quarter, hitting analysts’ consensus estimates of ($0.62). H&R Block had a negative return on equity of 101.42% and a net margin of 13.19%. The business had revenue of $138.00 million during the quarter, compared to analysts’ expectations of $129.33 million. During the same period in the previous year, the firm earned ($0.56) earnings per share. The firm’s quarterly revenue was up 10.4% compared to the same quarter last year.

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H&R Block Company Profile

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.

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

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