Mackenzie Financial Corp Has $241,000 Stock Holdings in Resources Connection, Inc. (NASDAQ:RGP)

Mackenzie Financial Corp increased its position in shares of Resources Connection, Inc. (NASDAQ:RGP) by 36.7% in the fourth quarter, HoldingsChannel reports. The firm owned 17,042 shares of the company’s stock after purchasing an additional 4,575 shares during the period. Mackenzie Financial Corp’s holdings in Resources Connection were worth $241,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Assenagon Asset Management S.A. increased its holdings in shares of Resources Connection by 38.3% during the fourth quarter. Assenagon Asset Management S.A. now owns 194,389 shares of the company’s stock worth $2,754,000 after buying an additional 53,882 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in Resources Connection by 6.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 535,277 shares of the company’s stock valued at $7,981,000 after purchasing an additional 32,235 shares during the last quarter. Alps Advisors Inc. bought a new position in Resources Connection in the 3rd quarter valued at $536,000. Barclays PLC boosted its stake in Resources Connection by 42.4% in the third quarter. Barclays PLC now owns 37,166 shares of the company’s stock worth $555,000 after purchasing an additional 11,061 shares in the last quarter. Finally, AQR Capital Management LLC grew its holdings in shares of Resources Connection by 41.1% during the third quarter. AQR Capital Management LLC now owns 555,153 shares of the company’s stock worth $8,277,000 after purchasing an additional 161,632 shares during the last quarter. 93.23% of the stock is owned by institutional investors.

Resources Connection Stock Up 0.8 %

Shares of RGP opened at $11.10 on Monday. The stock’s fifty day simple moving average is $12.66 and its 200-day simple moving average is $13.36. The firm has a market capitalization of $375.29 million, a PE ratio of 16.82, a price-to-earnings-growth ratio of 2.31 and a beta of 0.61. Resources Connection, Inc. has a 12-month low of $10.59 and a 12-month high of $17.24.

Resources Connection (NASDAQ:RGP) last issued its earnings results on Wednesday, April 3rd. The company reported $0.17 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.01) by $0.18. The company had revenue of $151.31 million for the quarter, compared to analyst estimates of $152.77 million. Resources Connection had a net margin of 3.34% and a return on equity of 6.86%. The company’s revenue for the quarter was down 19.0% on a year-over-year basis. During the same quarter last year, the firm earned $0.32 EPS. Analysts anticipate that Resources Connection, Inc. will post 0.32 EPS for the current year.

Resources Connection Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 13th. Stockholders of record on Thursday, May 16th will be paid a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a dividend yield of 5.05%. The ex-dividend date of this dividend is Wednesday, May 15th. Resources Connection’s dividend payout ratio (DPR) is currently 84.85%.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on RGP shares. Robert W. Baird cut their price target on Resources Connection from $15.00 to $13.00 and set a “neutral” rating for the company in a report on Thursday, April 4th. StockNews.com downgraded shares of Resources Connection from a “buy” rating to a “hold” rating in a research note on Sunday, February 25th.

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.