Resources Connection, Inc. (NASDAQ:RGP – Get Free Report) declared a quarterly dividend on Thursday, April 23rd. Stockholders of record on Thursday, May 21st will be paid a dividend of 0.07 per share on Friday, June 19th. This represents a c) dividend on an annualized basis and a dividend yield of 6.5%. The ex-dividend date of this dividend is Thursday, May 21st.
Resources Connection has decreased its dividend payment by an average of 0.1%per year over the last three years. Resources Connection has a dividend payout ratio of 53.8% meaning its dividend is sufficiently covered by earnings. Research analysts expect Resources Connection to earn ($0.13) per share next year, which means the company may not be able to cover its $0.28 annual dividend with an expected future payout ratio of -215.4%.
Resources Connection Trading Down 2.3%
NASDAQ:RGP opened at $4.30 on Tuesday. The company has a market cap of $147.62 million, a PE ratio of -1.45 and a beta of 0.52. Resources Connection has a twelve month low of $3.06 and a twelve month high of $6.30. The company’s 50 day moving average is $3.88 and its two-hundred day moving average is $4.33.
Institutional Trading of Resources Connection
Large investors have recently made changes to their positions in the business. Peapod Lane Capital LLC purchased a new stake in shares of Resources Connection in the 4th quarter valued at $1,809,000. Assenagon Asset Management S.A. purchased a new stake in shares of Resources Connection in the 4th quarter valued at $1,140,000. Williams & Novak LLC boosted its holdings in shares of Resources Connection by 66.0% in the 4th quarter. Williams & Novak LLC now owns 51,435 shares of the company’s stock valued at $259,000 after acquiring an additional 20,450 shares during the last quarter. Pacific Ridge Capital Partners LLC boosted its holdings in shares of Resources Connection by 4.7% in the 4th quarter. Pacific Ridge Capital Partners LLC now owns 52,320 shares of the company’s stock valued at $264,000 after acquiring an additional 2,350 shares during the last quarter. Finally, Certior Financial Group LLC boosted its holdings in shares of Resources Connection by 30.2% in the 4th quarter. Certior Financial Group LLC now owns 17,289 shares of the company’s stock valued at $87,000 after acquiring an additional 4,008 shares during the last quarter. 93.23% of the stock is owned by hedge funds and other institutional investors.
About Resources Connection
Resources Connection, Inc (NASDAQ: RGP) is a publicly traded professional services firm that specializes in providing independent consulting and project-based teams to help organizations manage critical business challenges. Operating under the RGP brand, the company connects highly skilled consultants with clients seeking support in areas such as finance and accounting, legal and risk management, supply chain optimization, technology implementation, and digital transformation.
RGP’s consultants bring specific industry and functional expertise to engagements, working on a flexible basis that allows clients to scale resources up or down as needed.
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