Resources Connection, Inc. (NASDAQ:RGP) is Horrell Capital Management Inc.'s 10th Largest Position

Horrell Capital Management Inc. lifted its position in Resources Connection, Inc. (NASDAQ:RGP - Free Report) by 16.4% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 815,000 shares of the company's stock after buying an additional 115,000 shares during the quarter. Resources Connection makes up 2.4% of Horrell Capital Management Inc.'s investment portfolio, making the stock its 10th largest holding. Horrell Capital Management Inc. owned approximately 2.44% of Resources Connection worth $7,906,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Ballentine Partners LLC purchased a new stake in shares of Resources Connection in the 3rd quarter valued at $212,000. nVerses Capital LLC purchased a new stake in shares of Resources Connection in the 3rd quarter valued at $60,000. Point72 DIFC Ltd acquired a new position in Resources Connection during the 2nd quarter worth $59,000. Brandes Investment Partners LP acquired a new position in Resources Connection during the 2nd quarter worth $2,590,000. Finally, Creative Planning acquired a new position in Resources Connection during the 2nd quarter worth $455,000. Hedge funds and other institutional investors own 93.23% of the company's stock.

Analysts Set New Price Targets

Several research analysts recently commented on the company. JPMorgan Chase & Co. lowered their target price on Resources Connection from $12.00 to $11.00 and set an "underweight" rating for the company in a research note on Tuesday, July 23rd. StockNews.com cut Resources Connection from a "buy" rating to a "hold" rating in a research note on Saturday, July 27th.

Resources Connection Stock Performance

Shares of NASDAQ:RGP traded down $0.03 on Tuesday, hitting $8.28. 251,168 shares of the company's stock were exchanged, compared to its average volume of 462,885. The firm's 50-day moving average is $9.32 and its 200 day moving average is $10.36. The company has a market capitalization of $277.13 million, a PE ratio of 22.83, a P/E/G ratio of 3.29 and a beta of 0.65. Resources Connection, Inc. has a 1-year low of $8.13 and a 1-year high of $14.63.

Resources Connection (NASDAQ:RGP - Get Free Report) last released its quarterly earnings data on Tuesday, October 1st. The company reported ($0.17) earnings per share (EPS) 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%. The company's revenue was down 19.5% compared to the same quarter last year. During the same period in the prior year, the company posted $0.14 earnings per share. On average, analysts anticipate that Resources Connection, Inc. will post 0.16 EPS for the current fiscal year.

Resources Connection Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 15th will be given a dividend of $0.14 per share. The ex-dividend date is Friday, November 15th. This represents a $0.56 annualized dividend and a dividend yield of 6.76%. Resources Connection's dividend 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.