Resources Connection, Inc. (NASDAQ:RGP) to Issue $0.07 Dividend

Resources Connection, Inc. (NASDAQ:RGP - Get Free Report) declared a dividend on Thursday, May 1st, NASDAQ Dividends reports. Investors of record on Monday, June 23rd will be paid a dividend of 0.07 per share on Monday, July 21st. The ex-dividend date of this dividend is Monday, June 23rd.

Resources Connection has a payout ratio of 53.8% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Resources Connection to earn $1.09 per share next year, which means the company should continue to be able to cover its $0.28 annual dividend with an expected future payout ratio of 25.7%.

Resources Connection Stock Down 2.7%

Shares of RGP opened at $5.34 on Friday. The company has a market cap of $176.59 million, a PE ratio of -1.63, a P/E/G ratio of 0.44 and a beta of 0.64. The business has a fifty day moving average of $5.40 and a 200 day moving average of $6.88. Resources Connection has a 52-week low of $4.81 and a 52-week high of $12.19.

Analyst Upgrades and Downgrades

Separately, JPMorgan Chase & Co. decreased their price objective on shares of Resources Connection from $9.50 to $5.00 and set an "underweight" rating for the company in a report on Thursday, April 3rd.

Insider Activity

In related news, Director David P. White sold 5,204 shares of the business's stock in a transaction that occurred on Monday, April 21st. The shares were sold at an average price of $5.26, for a total value of $27,373.04. Following the completion of the transaction, the director now owns 24,331 shares of the company's stock, valued at $127,981.06. The trade was a 17.62% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Roger D. Carlile purchased 25,000 shares of Resources Connection stock in a transaction dated Friday, April 4th. The stock was bought at an average cost of $5.06 per share, with a total value of $126,500.00. Following the completion of the transaction, the director now owns 50,000 shares in the company, valued at approximately $253,000. This represents a 100.00% increase in their position. The disclosure for this purchase can be found here. Over the last quarter, insiders purchased 54,900 shares of company stock valued at $279,295. Corporate insiders own 3.39% of the company's stock.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the stock. Strs Ohio bought a new position in shares of Resources Connection during the 1st quarter worth approximately $48,000. Empowered Funds LLC increased its position in shares of Resources Connection by 7.3% during the first quarter. Empowered Funds LLC now owns 178,769 shares of the company's stock worth $1,169,000 after purchasing an additional 12,231 shares in the last quarter. Goldman Sachs Group Inc. increased its position in shares of Resources Connection by 30.7% during the first quarter. Goldman Sachs Group Inc. now owns 262,248 shares of the company's stock worth $1,715,000 after purchasing an additional 61,580 shares in the last quarter. Finally, AQR Capital Management LLC increased its position in shares of Resources Connection by 13.0% during the first quarter. AQR Capital Management LLC now owns 714,138 shares of the company's stock worth $4,670,000 after purchasing an additional 82,099 shares in the last quarter. 93.23% of the stock is owned by 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.

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