Schwab Charles Investment Management Inc. Has $4.85 Million Position in Resources Connection, Inc. (RECN)

Schwab Charles Investment Management Inc. increased its position in shares of Resources Connection, Inc. (NASDAQ:RECN) by 10.1% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 348,705 shares of the business services provider’s stock after buying an additional 31,910 shares during the period. Schwab Charles Investment Management Inc. owned about 1.16% of Resources Connection worth $4,847,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in RECN. JPMorgan Chase & Co. increased its position in shares of Resources Connection by 50.1% in the 2nd quarter. JPMorgan Chase & Co. now owns 233,161 shares of the business services provider’s stock worth $3,195,000 after purchasing an additional 77,780 shares during the last quarter. AXA bought a new stake in shares of Resources Connection in the 2nd quarter worth about $1,062,000. Sapience Investments LLC increased its position in shares of Resources Connection by 16.6% in the 2nd quarter. Sapience Investments LLC now owns 524,984 shares of the business services provider’s stock worth $7,192,000 after purchasing an additional 74,930 shares during the last quarter. Dupont Capital Management Corp bought a new stake in shares of Resources Connection in the 3rd quarter worth about $979,000. Finally, Vanguard Group Inc. increased its position in shares of Resources Connection by 2.5% in the 2nd quarter. Vanguard Group Inc. now owns 2,899,783 shares of the business services provider’s stock worth $39,727,000 after purchasing an additional 69,492 shares during the last quarter. 80.99% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Resources Connection, Inc. (NASDAQ RECN) opened at $16.60 on Wednesday. The company has a debt-to-equity ratio of 0.19, a quick ratio of 2.36 and a current ratio of 2.36. Resources Connection, Inc. has a 1 year low of $12.05 and a 1 year high of $17.58. The firm has a market cap of $494.15, a PE ratio of 28.62 and a beta of 1.18.

Resources Connection (NASDAQ:RECN) last announced its quarterly earnings data on Wednesday, January 3rd. The business services provider reported $0.25 earnings per share for the quarter, beating analysts’ consensus estimates of $0.20 by $0.05. Resources Connection had a net margin of 2.98% and a return on equity of 8.25%. The business had revenue of $156.70 million during the quarter, compared to the consensus estimate of $152.91 million. During the same quarter in the prior year, the firm earned $0.26 EPS. The company’s revenue for the quarter was up 6.2% compared to the same quarter last year. research analysts expect that Resources Connection, Inc. will post 0.83 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, December 14th. Investors of record on Thursday, November 16th were given a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 2.89%. The ex-dividend date was Wednesday, November 15th. Resources Connection’s dividend payout ratio is presently 82.76%.

Several equities research analysts have recently weighed in on the stock. Zacks Investment Research raised shares of Resources Connection from a “hold” rating to a “buy” rating and set a $18.00 target price for the company in a research report on Tuesday. TheStreet raised shares of Resources Connection from a “c+” rating to a “b” rating in a research report on Thursday, January 4th. Robert W. Baird reissued a “hold” rating and issued a $15.00 target price on shares of Resources Connection in a research report on Friday, November 10th. BidaskClub downgraded shares of Resources Connection from a “buy” rating to a “hold” rating in a research report on Tuesday, December 12th. Finally, JPMorgan Chase & Co. downgraded shares of Resources Connection from a “neutral” rating to an “underweight” rating and set a $16.00 target price for the company. in a research report on Thursday, January 4th. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and one has issued a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $15.50.

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Resources Connection Company Profile

Resources Connection, Inc is a multinational consulting firm. The Company’s operating entities primarily provide services under the name Resources Global Professionals (RGP). The Company provides consulting and business initiative support services to its global client base in the areas of accounting; finance; corporate governance, risk and compliance (GRC) management; corporate advisory, strategic communications and restructuring; information management; human capital; supply chain management, and legal and regulatory.

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Institutional Ownership by Quarter for Resources Connection (NASDAQ:RECN)

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