Resources Connection, Inc. (NASDAQ:RGP – Get Free Report) announced a quarterly dividend on Thursday, April 18th, Zacks reports. Shareholders of record on Thursday, May 16th will be given a dividend of 0.14 per share on Thursday, June 13th. This represents a $0.56 annualized dividend and a yield of 4.97%. The ex-dividend date of this dividend is Wednesday, May 15th.
Resources Connection has a payout ratio of 34.6% indicating that its dividend is sufficiently covered by earnings. Equities 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 Stock Performance
RGP opened at $11.27 on Friday. The firm’s fifty day moving average is $12.89 and its two-hundred day moving average is $13.47. The firm has a market cap of $381.04 million, a PE ratio of 17.08, a price-to-earnings-growth ratio of 2.30 and a beta of 0.61. Resources Connection has a twelve month low of $10.59 and a twelve month high of $17.24.
Wall Street Analyst Weigh In
RGP has been the topic of a number of research analyst reports. StockNews.com lowered shares of Resources Connection from a “buy” rating to a “hold” rating in a report on Sunday, February 25th. Robert W. Baird dropped their price objective on shares of Resources Connection from $15.00 to $13.00 and set a “neutral” rating on the stock in a report on Thursday, April 4th.
Get Our Latest Stock Analysis on Resources Connection
Institutional Inflows and Outflows
Hedge funds have recently added to or reduced their stakes in the business. Corient Private Wealth LLC grew its position in Resources Connection by 10.6% in the fourth quarter. Corient Private Wealth LLC now owns 12,745 shares of the company’s stock valued at $181,000 after purchasing an additional 1,217 shares in the last quarter. Jane Street Group LLC bought a new position in Resources Connection in the first quarter valued at $179,000. Balyasny Asset Management L.P. bought a new position in Resources Connection in the first quarter valued at $178,000. State of Wyoming grew its position in Resources Connection by 29.8% in the fourth quarter. State of Wyoming now owns 9,246 shares of the company’s stock valued at $170,000 after purchasing an additional 2,124 shares in the last quarter. Finally, Y Intercept Hong Kong Ltd bought a new position in Resources Connection in the second quarter valued at $165,000. Institutional investors own 93.23% of the company’s stock.
Resources Connection Company Profile
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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