StockNews.com Downgrades MillerKnoll (NASDAQ:MLKN) to Hold

StockNews.com cut shares of MillerKnoll (NASDAQ:MLKN) from a buy rating to a hold rating in a research report released on Tuesday.

MillerKnoll Stock Performance

NASDAQ:MLKN opened at $21.87 on Tuesday. The stock has a market cap of $1.51 billion, a P/E ratio of 25.14, a PEG ratio of 0.96 and a beta of 1.23. The company has a quick ratio of 0.93, a current ratio of 1.59 and a debt-to-equity ratio of 0.99. The business’s 50-day moving average price is $23.89 and its two-hundred day moving average price is $25.81. MillerKnoll has a twelve month low of $20.89 and a twelve month high of $31.73.

MillerKnoll (NASDAQ:MLKN) last announced its earnings results on Wednesday, December 18th. The company reported $0.55 earnings per share for the quarter, beating analysts’ consensus estimates of $0.54 by $0.01. MillerKnoll had a net margin of 1.80% and a return on equity of 10.93%. The business had revenue of $970.40 million for the quarter, compared to the consensus estimate of $959.60 million. During the same period last year, the firm posted $0.59 earnings per share. MillerKnoll’s quarterly revenue was up 2.2% on a year-over-year basis. As a group, equities analysts predict that MillerKnoll will post 2.17 EPS for the current fiscal year.

MillerKnoll Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Saturday, November 30th will be paid a $0.1875 dividend. The ex-dividend date is Friday, November 29th. This represents a $0.75 dividend on an annualized basis and a yield of 3.43%. MillerKnoll’s dividend payout ratio is presently 82.42%.

Hedge Funds Weigh In On MillerKnoll

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Douglas Lane & Associates LLC raised its holdings in shares of MillerKnoll by 5.0% during the 4th quarter. Douglas Lane & Associates LLC now owns 216,843 shares of the company’s stock valued at $4,898,000 after buying an additional 10,345 shares in the last quarter. Nordea Investment Management AB grew its position in MillerKnoll by 3.7% during the fourth quarter. Nordea Investment Management AB now owns 178,570 shares of the company’s stock valued at $4,057,000 after acquiring an additional 6,433 shares during the last quarter. Principal Financial Group Inc. raised its stake in shares of MillerKnoll by 1.5% during the third quarter. Principal Financial Group Inc. now owns 358,529 shares of the company’s stock worth $8,877,000 after acquiring an additional 5,155 shares in the last quarter. Franklin Resources Inc. lifted its holdings in shares of MillerKnoll by 5.6% in the 3rd quarter. Franklin Resources Inc. now owns 39,928 shares of the company’s stock worth $973,000 after acquiring an additional 2,128 shares during the last quarter. Finally, Forager Capital Management LLC boosted its stake in shares of MillerKnoll by 45.9% in the 3rd quarter. Forager Capital Management LLC now owns 953,841 shares of the company’s stock valued at $23,617,000 after purchasing an additional 300,000 shares in the last quarter. 87.50% of the stock is currently owned by hedge funds and other institutional investors.

About MillerKnoll

MillerKnoll, Inc researches, designs, manufactures, and distributes interior furnishings worldwide. It operates through three segments: Americas Contract, International Contract & Specialty, and Global Retail. The company also provides seating products, furniture systems, other freestanding furniture elements, textiles, leather, felt, home furnishings and related services, casegoods, storage products, as well as residential, education, and healthcare furniture solutions.