Public Employees Retirement System of Ohio Increases Stock Holdings in Resources Connection, Inc. (NASDAQ:RGP)

Public Employees Retirement System of Ohio lifted its stake in shares of Resources Connection, Inc. (NASDAQ:RGP) by 47.0% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 20,153 shares of the company’s stock after buying an additional 6,448 shares during the period. Public Employees Retirement System of Ohio owned about 0.06% of Resources Connection worth $300,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the stock. State of Wyoming boosted its position in shares of Resources Connection by 7.7% during the second quarter. State of Wyoming now owns 10,756 shares of the company’s stock valued at $169,000 after buying an additional 769 shares during the last quarter. Captrust Financial Advisors boosted its position in shares of Resources Connection by 41.7% during the first 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 last quarter. Legal & General Group Plc boosted its position in shares of Resources Connection by 1.1% during the second quarter. Legal & General Group Plc now owns 73,183 shares of the company’s stock valued at $1,491,000 after buying an additional 832 shares during the last quarter. Quarry LP boosted its position in Resources Connection by 70.2% in the first quarter. Quarry LP now owns 2,042 shares of the company’s stock worth $35,000 after purchasing an additional 842 shares during the last quarter. Finally, Credit Suisse AG boosted its position in Resources Connection by 3.9% in the third quarter. Credit Suisse AG now owns 25,601 shares of the company’s stock worth $462,000 after purchasing an additional 958 shares during the last quarter. Hedge funds and other institutional investors own 93.23% of the company’s stock.

Analysts Set New Price Targets

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

Resources Connection Trading Up 3.2 %

RGP stock opened at $13.06 on Thursday. The stock’s fifty day simple moving average is $13.39 and its two-hundred day simple moving average is $13.82. Resources Connection, Inc. has a 1-year low of $12.50 and a 1-year high of $17.49. The stock has a market cap of $437.61 million, a P/E ratio of 16.53, a P/E/G ratio of 1.52 and a beta of 0.62.

Resources Connection (NASDAQ:RGP) last released its quarterly earnings data on Wednesday, January 3rd. The company reported $0.28 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.17 by $0.11. Resources Connection had a return on equity of 8.14% and a net margin of 3.80%. The company had revenue of $163.13 million for the quarter, compared to analyst estimates of $161.92 million. During the same period in the previous year, the company posted $0.52 EPS. The firm’s revenue for the quarter was down 18.6% compared to the same quarter last year. As a group, analysts forecast that Resources Connection, Inc. will post 0.57 earnings per share for the current fiscal year.

Resources Connection Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 14th. Investors of record on Thursday, February 15th were paid a dividend of $0.14 per share. The ex-dividend date was Wednesday, February 14th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 4.29%. Resources Connection’s payout ratio is 70.89%.

Resources Connection Profile

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.