US Bancorp DE Has $161,000 Stake in Resources Connection, Inc. (NASDAQ:RGP)

US Bancorp DE lessened its holdings in shares of Resources Connection, Inc. (NASDAQ:RGP) by 8.9% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 16,577 shares of the company’s stock after selling 1,616 shares during the period. US Bancorp DE’s holdings in Resources Connection were worth $161,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in RGP. Horrell Capital Management Inc. raised its stake in Resources Connection by 16.4% in the third quarter. Horrell Capital Management Inc. now owns 815,000 shares of the company’s stock valued at $7,906,000 after purchasing an additional 115,000 shares in the last quarter. Ballentine Partners LLC acquired a new position in shares of Resources Connection in the 3rd quarter valued at approximately $212,000. nVerses Capital LLC acquired a new position in shares of Resources Connection in the 3rd quarter valued at approximately $60,000. Point72 DIFC Ltd bought a new stake in shares of Resources Connection during the 2nd quarter worth approximately $59,000. Finally, Brandes Investment Partners LP acquired a new stake in shares of Resources Connection during the 2nd quarter worth approximately $2,590,000. 93.23% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several brokerages have commented on RGP. JPMorgan Chase & Co. lowered their price objective on shares of Resources Connection from $12.00 to $11.00 and set an “underweight” rating for the company in a research report on Tuesday, July 23rd. StockNews.com downgraded Resources Connection from a “buy” rating to a “hold” rating in a research report on Saturday, July 27th.

Resources Connection Price Performance

Shares of NASDAQ:RGP opened at $8.34 on Friday. Resources Connection, Inc. has a one year low of $7.90 and a one year high of $14.63. The company has a market cap of $279.15 million, a price-to-earnings ratio of 23.17, a PEG ratio of 3.54 and a beta of 0.67. The firm has a 50 day simple moving average of $8.86 and a 200 day simple moving average of $10.11.

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

Resources Connection Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 15th will be issued a $0.14 dividend. The ex-dividend date of this dividend is Friday, November 15th. This represents a $0.56 dividend on an annualized basis and a yield of 6.71%. Resources Connection’s dividend payout ratio (DPR) is presently 155.56%.

Resources Connection 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.