MillerKnoll (NASDAQ:MLKN) Issues Quarterly Earnings Results, Beats Expectations By $0.03 EPS

MillerKnoll (NASDAQ:MLKN) issued its quarterly earnings data on Wednesday. The company reported $0.43 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.40 by $0.03, FiscalAI reports. MillerKnoll had a negative net margin of 0.41% and a positive return on equity of 10.96%.

MillerKnoll Stock Up 5.0%

Shares of NASDAQ MLKN traded up $0.84 during midday trading on Wednesday, hitting $17.53. The stock had a trading volume of 1,668,787 shares, compared to its average volume of 593,815. The business’s 50 day moving average is $15.82 and its 200-day moving average is $18.19. MillerKnoll has a 52 week low of $13.77 and a 52 week high of $25.65. The company has a quick ratio of 0.96, a current ratio of 1.67 and a debt-to-equity ratio of 1.02. The company has a market cap of $1.20 billion, a P/E ratio of -70.12, a PEG ratio of 0.75 and a beta of 1.32.

MillerKnoll Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 15th. Shareholders of record on Saturday, November 29th will be issued a $0.1875 dividend. The ex-dividend date of this dividend is Friday, November 28th. This represents a $0.75 annualized dividend and a yield of 4.3%. MillerKnoll’s payout ratio is -300.00%.

Analysts Set New Price Targets

Several research firms have weighed in on MLKN. Wall Street Zen raised MillerKnoll from a “hold” rating to a “buy” rating in a research report on Sunday, November 2nd. Weiss Ratings reaffirmed a “sell (d)” rating on shares of MillerKnoll in a research note on Monday. Finally, Zacks Research downgraded MillerKnoll from a “strong-buy” rating to a “hold” rating in a report on Monday, December 1st. Three investment analysts have rated the stock with a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, MillerKnoll presently has an average rating of “Reduce”.

Hedge Funds Weigh In On MillerKnoll

Several hedge funds and other institutional investors have recently added to or reduced their stakes in MLKN. Royal Bank of Canada increased its holdings in shares of MillerKnoll by 39.4% in the 1st quarter. Royal Bank of Canada now owns 19,451 shares of the company’s stock worth $373,000 after purchasing an additional 5,495 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of MillerKnoll by 2.0% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 40,480 shares of the company’s stock valued at $775,000 after purchasing an additional 801 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in shares of MillerKnoll by 7.1% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 197,932 shares of the company’s stock valued at $3,788,000 after purchasing an additional 13,099 shares during the last quarter. Jane Street Group LLC lifted its position in MillerKnoll by 311.8% during the first quarter. Jane Street Group LLC now owns 414,275 shares of the company’s stock valued at $7,929,000 after purchasing an additional 313,684 shares during the period. Finally, Hsbc Holdings PLC grew its position in MillerKnoll by 177.3% in the 2nd quarter. Hsbc Holdings PLC now owns 28,704 shares of the company’s stock worth $553,000 after purchasing an additional 18,354 shares during the period. 87.50% of the stock is owned by 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.