Bank of New York Mellon Corp Has $2.93 Million Stake in Resources Connection, Inc. (NASDAQ:RGP)

Bank of New York Mellon Corp reduced its holdings in shares of Resources Connection, Inc. (NASDAQ:RGP) by 1.6% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 448,251 shares of the company’s stock after selling 7,093 shares during the period. Bank of New York Mellon Corp owned 1.36% of Resources Connection worth $2,932,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of RGP. GAMMA Investing LLC grew its holdings in Resources Connection by 3,712.9% during the 1st quarter. GAMMA Investing LLC now owns 4,728 shares of the company’s stock worth $31,000 after acquiring an additional 4,604 shares during the period. Wealth Enhancement Advisory Services LLC acquired a new stake in Resources Connection during the 1st quarter worth about $82,000. Capital Investment Advisors LLC acquired a new stake in Resources Connection during the 1st quarter worth about $90,000. Price T Rowe Associates Inc. MD grew its holdings in Resources Connection by 17.9% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 12,249 shares of the company’s stock worth $105,000 after acquiring an additional 1,863 shares during the period. Finally, Quantinno Capital Management LP acquired a new stake in Resources Connection during the 4th quarter worth about $116,000. 93.23% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts have recently commented on RGP shares. Wall Street Zen upgraded Resources Connection from a “strong sell” rating to a “hold” rating in a research note on Saturday. JPMorgan Chase & Co. reduced their target price on Resources Connection from $9.50 to $5.00 and set an “underweight” rating for the company in a research note on Thursday, April 3rd.

Resources Connection Price Performance

Shares of RGP opened at $5.79 on Monday. The stock has a 50-day moving average of $5.41 and a 200-day moving average of $6.35. The company has a market cap of $191.48 million, a PE ratio of -0.99, a P/E/G ratio of 1.29 and a beta of 0.64. Resources Connection, Inc. has a one year low of $4.81 and a one year high of $12.19.

Resources Connection Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, July 21st. Shareholders of record on Monday, June 23rd were paid a dividend of $0.07 per share. The ex-dividend date of this dividend was Monday, June 23rd. This represents a $0.28 dividend on an annualized basis and a yield of 4.84%. Resources Connection’s dividend payout ratio (DPR) is currently -4.81%.

Resources Connection Company 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.