Resources Connection (NASDAQ:RGP) Given New $13.00 Price Target at Robert W. Baird

Resources Connection (NASDAQ:RGP - Free Report) had its price target trimmed by Robert W. Baird from $15.00 to $13.00 in a research report report published on Thursday, Benzinga reports. The firm currently has a neutral rating on the stock.

Separately, StockNews.com lowered Resources Connection from a buy rating to a hold rating in a report on Sunday, February 25th.

Resources Connection Price Performance

Shares of Resources Connection stock traded down $0.93 on Thursday, hitting $11.35. 1,111,958 shares of the company's stock traded hands, compared to its average volume of 443,918. Resources Connection has a one year low of $10.59 and a one year high of $17.24. The company has a fifty day moving average of $13.29 and a two-hundred day moving average of $13.73. The company has a market capitalization of $380.34 million, a price-to-earnings ratio of 14.37, a price-to-earnings-growth ratio of 1.47 and a beta of 0.61.

Resources Connection (NASDAQ:RGP - Get Free Report) last announced its earnings results on Wednesday, April 3rd. The company reported $0.17 EPS for the quarter, beating the consensus estimate of ($0.01) by $0.18. Resources Connection had a return on equity of 8.14% and a net margin of 3.80%. The company had revenue of $151.31 million for the quarter, compared to analyst estimates of $152.77 million. During the same quarter in the prior year, the company earned $0.32 EPS. The firm's revenue for the quarter was down 19.0% compared to the same quarter last year. Equities research analysts anticipate that Resources Connection will post 0.57 earnings per share for the current year.

Resources Connection Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 14th. Stockholders of record on Thursday, February 15th were paid a $0.14 dividend. This represents a $0.56 annualized dividend and a dividend yield of 4.93%. The ex-dividend date of this dividend was Wednesday, February 14th. Resources Connection's dividend payout ratio (DPR) is presently 70.89%.

Institutional Trading of Resources Connection

Several institutional investors and hedge funds have recently modified their holdings of the stock. Citigroup Inc. increased its position in Resources Connection by 14.0% in the first quarter. Citigroup Inc. now owns 27,419 shares of the company's stock worth $470,000 after buying an additional 3,364 shares during the last quarter. MetLife Investment Management LLC boosted its holdings in shares of Resources Connection by 57.0% in the first quarter. MetLife Investment Management LLC now owns 17,632 shares of the company's stock worth $302,000 after acquiring an additional 6,401 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its holdings in shares of Resources Connection by 11.8% in the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 26,359 shares of the company's stock worth $452,000 after acquiring an additional 2,781 shares during the period. Sei Investments Co. boosted its holdings in shares of Resources Connection by 34.2% in the first quarter. Sei Investments Co. now owns 58,204 shares of the company's stock worth $999,000 after acquiring an additional 14,831 shares during the period. Finally, Aviva PLC bought a new position in shares of Resources Connection in the first quarter worth $1,553,000. 93.23% of the stock is owned by hedge funds and other institutional investors.

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.