Resources Connection, Inc. (NASDAQ:RGP) Stake Lessened by State Street Corp

State Street Corp cut its stake in Resources Connection, Inc. (NASDAQ:RGP) by 2.2% during the 3rd quarter, HoldingsChannel reports. The fund owned 732,156 shares of the company’s stock after selling 16,167 shares during the period. State Street Corp’s holdings in Resources Connection were worth $7,102,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in RGP. Victory Capital Management Inc. raised its stake in shares of Resources Connection by 13.8% in the 2nd quarter. Victory Capital Management Inc. now owns 13,623 shares of the company’s stock valued at $150,000 after purchasing an additional 1,649 shares in the last quarter. American Century Companies Inc. raised its stake in Resources Connection by 12.6% during the second quarter. American Century Companies Inc. now owns 56,461 shares of the company’s stock valued at $623,000 after buying an additional 6,314 shares in the last quarter. Renaissance Technologies LLC lifted its holdings in Resources Connection by 17.7% during the 2nd quarter. Renaissance Technologies LLC now owns 321,114 shares of the company’s stock worth $3,545,000 after buying an additional 48,314 shares during the last quarter. Denali Advisors LLC acquired a new position in shares of Resources Connection in the 2nd quarter worth approximately $169,000. Finally, Tieton Capital Management LLC bought a new stake in shares of Resources Connection in the 2nd quarter valued at approximately $4,452,000. 93.23% of the stock is currently owned by institutional investors.

Resources Connection Price Performance

RGP stock opened at $8.41 on Friday. The firm has a market cap of $281.49 million, a price-to-earnings ratio of 23.36, a PEG ratio of 3.48 and a beta of 0.68. Resources Connection, Inc. has a 1-year low of $7.90 and a 1-year high of $14.50. The firm has a fifty day moving average price of $8.41 and a two-hundred day moving average price of $9.52.

Resources Connection (NASDAQ:RGP) last announced its quarterly earnings results on Tuesday, October 1st. The company reported ($0.17) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.04 by ($0.21). Resources Connection had a return on equity of 3.69% and a net margin of 2.04%. The company had revenue of $136.94 million during the quarter, compared to the consensus estimate of $137.82 million. During the same period last year, the business posted $0.14 EPS. The company’s revenue for the quarter was down 19.5% on a year-over-year basis. As a group, analysts expect that Resources Connection, Inc. will post 0.16 EPS for the current fiscal year.

Resources Connection Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Friday, November 15th were given a dividend of $0.14 per share. The ex-dividend date of this dividend was Friday, November 15th. This represents a $0.56 dividend on an annualized basis and a yield of 6.66%. Resources Connection’s dividend payout ratio (DPR) is presently 155.56%.

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.