Geode Capital Management LLC Grows Stock Position in Resources Connection, Inc. (NASDAQ:RGP)

Geode Capital Management LLC boosted its stake in shares of Resources Connection, Inc. (NASDAQ:RGP) by 3.1% during the 3rd quarter, Holdings Channel.com reports. The firm owned 784,529 shares of the company’s stock after acquiring an additional 23,943 shares during the period. Geode Capital Management LLC’s holdings in Resources Connection were worth $7,611,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the stock. Quest Partners LLC increased its stake in shares of Resources Connection by 35,178.9% during the third quarter. Quest Partners LLC now owns 105,131 shares of the company’s stock worth $1,020,000 after buying an additional 104,833 shares during the period. Connor Clark & Lunn Investment Management Ltd. raised its holdings in shares of Resources Connection by 110.8% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 53,078 shares of the company’s stock valued at $515,000 after purchasing an additional 27,897 shares in the last quarter. Atria Investments Inc lifted its position in shares of Resources Connection by 9.6% during the 3rd quarter. Atria Investments Inc now owns 17,723 shares of the company’s stock worth $172,000 after purchasing an additional 1,547 shares during the last quarter. nVerses Capital LLC purchased a new stake in shares of Resources Connection during the 3rd quarter worth $60,000. Finally, BNP Paribas Financial Markets grew its stake in shares of Resources Connection by 263.6% during the third quarter. BNP Paribas Financial Markets now owns 117,903 shares of the company’s stock worth $1,144,000 after purchasing an additional 85,472 shares in the last quarter. Institutional investors and hedge funds own 93.23% of the company’s stock.

Resources Connection Price Performance

Resources Connection stock opened at $8.72 on Friday. The stock has a market cap of $291.87 million, a PE ratio of 24.22, a P/E/G ratio of 3.48 and a beta of 0.68. The stock’s fifty day moving average is $8.42 and its two-hundred day moving average is $9.47. Resources Connection, Inc. has a 1-year low of $7.90 and a 1-year high of $14.50.

Resources Connection (NASDAQ:RGP) last issued its earnings results on Tuesday, October 1st. The company reported ($0.17) earnings per share for the quarter, missing the consensus estimate of $0.04 by ($0.21). The business had revenue of $136.94 million for the quarter, compared to analyst estimates of $137.82 million. Resources Connection had a return on equity of 3.69% and a net margin of 2.04%. Resources Connection’s revenue was down 19.5% on a year-over-year basis. During the same period last year, the business posted $0.14 EPS. On average, research analysts expect that Resources Connection, Inc. will post 0.16 earnings per share for the current fiscal year.

Resources Connection Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Friday, November 15th were issued a dividend of $0.14 per share. The ex-dividend date of this dividend was Friday, November 15th. This represents a $0.56 dividend on an annualized basis and a yield of 6.42%. Resources Connection’s payout ratio is currently 155.56%.

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.