Resources Connection, Inc. $RGP Shares Purchased by Charles Schwab Investment Management Inc.

Key Points

• Charles Schwab Investment Management Inc. increased its position in Resources Connection, Inc. by 30.6%, owning 482,919 shares valued at approximately $3.16 million after purchasing additional shares in the first quarter.
• Additionally, Resources Connection recently announced a quarterly dividend of $0.07 per share, equating to an annual yield of 5.5%, to be paid on September 26th.
• Wall Street analyst ratings for Resources Connection improved from a "strong sell" to a "hold," but the stock still holds a consensus price target of $5.00.

Charles Schwab Investment Management Inc. increased its position in Resources Connection, Inc. (NASDAQ:RGP - Free Report) by 30.6% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 482,919 shares of the company's stock after buying an additional 113,114 shares during the period. Charles Schwab Investment Management Inc. owned about 1.46% of Resources Connection worth $3,158,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. GAMMA Investing LLC raised its position in shares of Resources Connection by 3,712.9% in the first quarter. GAMMA Investing LLC now owns 4,728 shares of the company's stock valued at $31,000 after buying an additional 4,604 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its position in Resources Connection by 17.9% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 12,249 shares of the company's stock worth $105,000 after buying an additional 1,863 shares during the period. Wealth Enhancement Advisory Services LLC purchased a new position in Resources Connection during the first quarter worth about $82,000. Quantinno Capital Management LP purchased a new position in Resources Connection during the fourth quarter worth about $116,000. Finally, Capital Investment Advisors LLC purchased a new position in Resources Connection during the first quarter worth about $90,000. Institutional investors and hedge funds own 93.23% of the company's stock.

Analysts Set New Price Targets

Separately, Wall Street Zen upgraded Resources Connection from a "strong sell" rating to a "hold" rating in a research report on Saturday, July 26th. One investment analyst has rated the stock with a Sell rating, According to MarketBeat.com, the stock currently has a consensus rating of "Sell" and an average target price of $5.00.

Resources Connection Price Performance

RGP stock traded down $0.06 on Thursday, hitting $5.07. 386,529 shares of the company were exchanged, compared to its average volume of 242,603. Resources Connection, Inc. has a twelve month low of $4.44 and a twelve month high of $10.27. The business's fifty day moving average is $5.16 and its two-hundred day moving average is $5.67. The stock has a market capitalization of $169.03 million, a price-to-earnings ratio of -0.87, a price-to-earnings-growth ratio of 2.85 and a beta of 0.63.

Resources Connection Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 26th. Shareholders of record on Friday, August 29th will be given a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a yield of 5.5%. The ex-dividend date of this dividend is Friday, August 29th. Resources Connection's payout ratio is -4.81%.

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.