Edgestream Partners L.P. Takes Position in MillerKnoll, Inc. $MLKN

Edgestream Partners L.P. acquired a new position in MillerKnoll, Inc. (NASDAQ:MLKN) during the first quarter, HoldingsChannel.com reports. The institutional investor acquired 38,820 shares of the company’s stock, valued at approximately $561,000.

Other hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. grew its position in MillerKnoll by 7.9% in the 4th quarter. Vanguard Group Inc. now owns 8,550,194 shares of the company’s stock worth $156,298,000 after purchasing an additional 623,035 shares during the last quarter. Alliancebernstein L.P. increased its stake in shares of MillerKnoll by 7.1% in the third quarter. Alliancebernstein L.P. now owns 5,166,059 shares of the company’s stock valued at $91,646,000 after purchasing an additional 340,917 shares during the period. Dimensional Fund Advisors LP raised its holdings in shares of MillerKnoll by 2.9% during the first quarter. Dimensional Fund Advisors LP now owns 3,610,776 shares of the company’s stock valued at $52,211,000 after buying an additional 103,372 shares during the last quarter. Deprince Race & Zollo Inc. raised its holdings in shares of MillerKnoll by 27.2% during the fourth quarter. Deprince Race & Zollo Inc. now owns 2,530,994 shares of the company’s stock valued at $46,267,000 after buying an additional 541,638 shares during the last quarter. Finally, Pzena Investment Management LLC acquired a new position in shares of MillerKnoll during the first quarter worth approximately $28,858,000. 87.50% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several analysts recently commented on the company. Weiss Ratings upgraded MillerKnoll from a “sell (d+)” rating to a “hold (c)” rating in a research report on Friday, July 24th. Wall Street Zen downgraded MillerKnoll from a “buy” rating to a “hold” rating in a research note on Sunday, July 26th. Finally, Zacks Research upgraded MillerKnoll from a “strong sell” rating to a “hold” rating in a research report on Tuesday, May 26th. One equities research analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold”.

MillerKnoll Trading Up 1.3%

Shares of NASDAQ:MLKN opened at $24.44 on Wednesday. The company has a debt-to-equity ratio of 0.94, a quick ratio of 0.90 and a current ratio of 1.58. The stock has a market capitalization of $1.66 billion, a price-to-earnings ratio of 18.52, a PEG ratio of 1.00 and a beta of 1.36. MillerKnoll, Inc. has a 1-year low of $13.77 and a 1-year high of $24.71. The company has a 50 day moving average price of $19.02 and a 200 day moving average price of $18.44.

MillerKnoll (NASDAQ:MLKN) last released its quarterly earnings data on Wednesday, June 24th. The company reported $0.55 earnings per share for the quarter, topping the consensus estimate of $0.52 by $0.03. The business had revenue of $1 billion during the quarter, compared to analyst estimates of $973.87 million. MillerKnoll had a return on equity of 9.77% and a net margin of 2.38%.The company’s revenue was up 4.4% compared to the same quarter last year. During the same period last year, the company posted $0.60 EPS. MillerKnoll has set its FY 2027 guidance at 1.850-2.150 EPS and its Q1 2027 guidance at 0.330-0.390 EPS. On average, research analysts anticipate that MillerKnoll, Inc. will post 2.02 EPS for the current fiscal year.

MillerKnoll Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 15th. Stockholders of record on Saturday, August 29th will be issued a dividend of $0.1875 per share. This represents a $0.75 annualized dividend and a dividend yield of 3.1%. The ex-dividend date of this dividend is Friday, August 28th. MillerKnoll’s dividend payout ratio is currently 56.82%.

About MillerKnoll

MillerKnoll, Inc (NASDAQ: MLKN) is a global design and manufacturing company specializing in furniture, lighting, textiles, rugs and accessories for residential and commercial environments. The company’s portfolio features well-known brands such as Herman Miller, Knoll, Maharam, Geiger and Tuyama, offering solutions for office, healthcare, education, hospitality and home settings. Products span seating, workstations, tables, storage systems and outdoor furnishings, complemented by a range of services including space planning, ergonomic consulting and installation support.

Formed in July 2021 through the merger of Herman Miller and Knoll, MillerKnoll combines more than a century of design heritage with a modern portfolio of sustainable products and materials.