Resources Connection (NASDAQ:RGP) Upgraded by Wall Street Zen to “Hold” Rating

Wall Street Zen upgraded shares of Resources Connection (NASDAQ:RGP) from a strong sell rating to a hold rating in a research note released on Saturday.

Separately, JPMorgan Chase & Co. decreased their price target on Resources Connection from $9.50 to $5.00 and set an “underweight” rating on the stock in a report on Thursday, April 3rd.

Resources Connection Trading Down 10.4%

Shares of NASDAQ RGP opened at $5.19 on Friday. Resources Connection has a 1-year low of $4.81 and a 1-year high of $12.19. The company has a 50-day moving average of $5.41 and a two-hundred day moving average of $6.32. The company has a market cap of $171.63 million, a PE ratio of -0.89, a P/E/G ratio of 1.29 and a beta of 0.64.

Resources Connection Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, July 21st. Investors of record on Monday, June 23rd were given a $0.07 dividend. The ex-dividend date of this dividend was Monday, June 23rd. This represents a $0.28 dividend on an annualized basis and a dividend yield of 5.39%. Resources Connection’s dividend payout ratio is -4.81%.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Raymond James Financial Inc. acquired a new position in Resources Connection in the fourth quarter valued at about $272,000. American Century Companies Inc. raised its holdings in Resources Connection by 9.1% during the 4th quarter. American Century Companies Inc. now owns 70,669 shares of the company’s stock worth $603,000 after buying an additional 5,889 shares during the period. Sei Investments Co. lifted its stake in Resources Connection by 13.1% in the fourth quarter. Sei Investments Co. now owns 37,277 shares of the company’s stock valued at $318,000 after buying an additional 4,310 shares in the last quarter. LPL Financial LLC boosted its holdings in shares of Resources Connection by 6.2% in the fourth quarter. LPL Financial LLC now owns 48,762 shares of the company’s stock valued at $416,000 after buying an additional 2,837 shares during the period. Finally, JPMorgan Chase & Co. increased its position in shares of Resources Connection by 196.2% during the fourth quarter. JPMorgan Chase & Co. now owns 261,688 shares of the company’s stock worth $2,232,000 after acquiring an additional 173,333 shares in the last quarter. Institutional investors and hedge funds own 93.23% of the company’s stock.

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.