Resources Connection, Inc. (NASDAQ:RGP – Get Free Report) declared a quarterly dividend on Thursday, January 18th, Zacks reports. Stockholders of record on Thursday, February 15th will be given a dividend of 0.14 per share on Thursday, March 14th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 4.24%. The ex-dividend date of this dividend is Wednesday, February 14th.
Resources Connection has increased its dividend by an average of 10.1% per year over the last three years. Resources Connection has a payout ratio of 41.2% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Resources Connection to earn $0.95 per share next year, which means the company should continue to be able to cover its $0.56 annual dividend with an expected future payout ratio of 58.9%.
Resources Connection Stock Performance
Resources Connection stock opened at $13.22 on Monday. The firm’s 50-day moving average is $13.68 and its 200-day moving average is $14.36. Resources Connection has a 1 year low of $12.50 and a 1 year high of $18.48. The company has a market cap of $443.00 million, a P/E ratio of 16.73 and a beta of 0.62.
Institutional Trading of Resources Connection
Several hedge funds have recently bought and sold shares of the company. Covestor Ltd increased its stake in Resources Connection by 483.7% during the 1st quarter. Covestor Ltd now owns 1,652 shares of the company’s stock valued at $28,000 after buying an additional 1,369 shares during the period. Quarry LP increased its stake in Resources Connection by 70.2% during the 1st quarter. Quarry LP now owns 2,042 shares of the company’s stock valued at $35,000 after buying an additional 842 shares during the period. Captrust Financial Advisors increased its stake in Resources Connection by 41.7% during the 1st quarter. Captrust Financial Advisors now owns 2,659 shares of the company’s stock valued at $46,000 after buying an additional 783 shares during the period. Qube Research & Technologies Ltd acquired a new position in Resources Connection during the 3rd quarter valued at about $61,000. Finally, Point72 Middle East FZE acquired a new position in Resources Connection during the 2nd quarter valued at about $118,000. 83.96% of the stock is currently owned by institutional investors.
Wall Street Analysts Forecast Growth
Separately, StockNews.com downgraded shares of Resources Connection from a “buy” rating to a “hold” rating in a research report on Friday.
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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