Resources Connection, Inc. (NASDAQ:RGP – Get Free Report) declared a quarterly dividend on Thursday, April 18th, Zacks reports. Stockholders of record on Thursday, May 16th will be paid a dividend of 0.14 per share on Thursday, June 13th. This represents a $0.56 annualized dividend and a dividend yield of 4.97%. The ex-dividend date is Wednesday, May 15th.
Resources Connection has a dividend payout ratio of 34.6% meaning its dividend is sufficiently covered by earnings. Research analysts expect Resources Connection to earn $0.93 per share next year, which means the company should continue to be able to cover its $0.56 annual dividend with an expected future payout ratio of 60.2%.
Resources Connection Trading Up 2.0 %
Resources Connection stock opened at $11.27 on Friday. The firm has a 50 day moving average of $12.89 and a 200 day moving average of $13.47. The firm has a market capitalization of $381.04 million, a price-to-earnings ratio of 17.08, a P/E/G ratio of 2.30 and a beta of 0.61. Resources Connection has a 12-month low of $10.59 and a 12-month high of $17.24.
Institutional Investors Weigh In On Resources Connection
Institutional investors have recently added to or reduced their stakes in the stock. Corient Private Wealth LLC grew its holdings in Resources Connection by 10.6% during the 4th quarter. Corient Private Wealth LLC now owns 12,745 shares of the company’s stock valued at $181,000 after buying an additional 1,217 shares in the last quarter. Jane Street Group LLC purchased a new stake in Resources Connection during the 1st quarter valued at approximately $179,000. Balyasny Asset Management L.P. purchased a new stake in Resources Connection during the 1st quarter valued at approximately $178,000. State of Wyoming grew its holdings in Resources Connection by 29.8% during the 4th quarter. State of Wyoming now owns 9,246 shares of the company’s stock valued at $170,000 after buying an additional 2,124 shares in the last quarter. Finally, Y Intercept Hong Kong Ltd purchased a new stake in Resources Connection during the 2nd quarter valued at approximately $165,000. 93.23% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
RGP has been the subject of several analyst reports. Robert W. Baird reduced their target price on shares of Resources Connection from $15.00 to $13.00 and set a “neutral” rating for the company in a report on Thursday, April 4th. StockNews.com lowered shares of Resources Connection from a “buy” rating to a “hold” rating in a report on Sunday, February 25th.
View Our Latest Stock Report on Resources Connection
About Resources Connection
Resources Connection, Inc provides consulting services to business customers under the Resources Global Professionals name in North America, Europe, and the Asia Pacific. The company offers services in the areas of transactions, including integration and divestitures, bankruptcy/restructuring, going public readiness and support, financial process optimization, and system implementation; and regulations, such as accounting regulations, internal audit and compliance, data privacy and security, healthcare compliance, and regulatory compliance.
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