State Street Corp Reduces Stock Position in Resources Connection, Inc. (NASDAQ:RGP)

State Street Corp trimmed its position in Resources Connection, Inc. (NASDAQ:RGP) by 2.2% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 732,156 shares of the company’s stock after selling 16,167 shares during the period. State Street Corp owned about 2.19% of Resources Connection worth $7,102,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Quest Partners LLC boosted its stake in Resources Connection by 35,178.9% in the 3rd quarter. Quest Partners LLC now owns 105,131 shares of the company’s stock worth $1,020,000 after buying an additional 104,833 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its position in shares of Resources Connection by 110.8% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 53,078 shares of the company’s stock worth $515,000 after acquiring an additional 27,897 shares during the last quarter. Atria Investments Inc grew its holdings in Resources Connection by 9.6% in the third quarter. Atria Investments Inc now owns 17,723 shares of the company’s stock valued at $172,000 after purchasing an additional 1,547 shares during the period. nVerses Capital LLC acquired a new position in Resources Connection during the third quarter worth approximately $60,000. Finally, BNP Paribas Financial Markets raised its stake in Resources Connection by 263.6% during the third quarter. BNP Paribas Financial Markets now owns 117,903 shares of the company’s stock worth $1,144,000 after purchasing an additional 85,472 shares during the period. 93.23% of the stock is owned by institutional investors and hedge funds.

Resources Connection Trading Up 0.6 %

Shares of RGP opened at $8.41 on Friday. The stock’s fifty day simple moving average is $8.41 and its 200 day simple moving average is $9.52. Resources Connection, Inc. has a twelve month low of $7.90 and a twelve month high of $14.50. The firm has a market capitalization of $281.49 million, a P/E ratio of 23.36, a price-to-earnings-growth ratio of 3.48 and a beta of 0.68.

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

Resources Connection Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Friday, November 15th were paid a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a dividend yield of 6.66%. The ex-dividend date of this dividend was Friday, November 15th. Resources Connection’s dividend payout ratio 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.