MillerKnoll (NASDAQ:MLKN) Lowered to Strong Sell Rating by Zacks Research

Zacks Research lowered shares of MillerKnoll (NASDAQ:MLKN) from a hold rating to a strong sell rating in a research note issued to investors on Tuesday morning,Zacks.com reports.

A number of other research firms have also recently weighed in on MLKN. William Blair assumed coverage on shares of MillerKnoll in a report on Tuesday, February 10th. They issued an “outperform” rating on the stock. Wall Street Zen cut shares of MillerKnoll from a “buy” rating to a “hold” rating in a report on Saturday, January 10th. Finally, Weiss Ratings restated a “sell (d+)” rating on shares of MillerKnoll in a report on Monday, December 29th. One investment analyst has rated the stock with a Buy rating, one has issued a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Reduce”.

MillerKnoll Trading Up 6.0%

NASDAQ MLKN opened at $15.02 on Tuesday. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.92 and a current ratio of 1.64. The company has a market capitalization of $1.03 billion, a price-to-earnings ratio of 107.29, a price-to-earnings-growth ratio of 0.66 and a beta of 1.41. The company’s 50-day simple moving average is $19.22 and its two-hundred day simple moving average is $17.83. MillerKnoll has a one year low of $13.77 and a one year high of $23.18.

MillerKnoll (NASDAQ:MLKN) last released its quarterly earnings results on Wednesday, March 25th. The company reported $0.43 earnings per share for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.02). MillerKnoll had a net margin of 0.28% and a return on equity of 10.11%. The firm had revenue of $926.60 million during the quarter, compared to the consensus estimate of $941.95 million. During the same quarter in the prior year, the business posted $0.44 earnings per share. The firm’s quarterly revenue was up 5.7% on a year-over-year basis. Equities analysts forecast that MillerKnoll will post 2.12 EPS for the current fiscal year.

MillerKnoll Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 15th. Investors of record on Saturday, February 28th will be paid a $0.1875 dividend. The ex-dividend date is Friday, February 27th. This represents a $0.75 dividend on an annualized basis and a yield of 5.0%. MillerKnoll’s dividend payout ratio (DPR) is 535.71%.

Institutional Trading of MillerKnoll

A number of institutional investors have recently bought and sold shares of MLKN. Royal Bank of Canada boosted its stake in 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. boosted its stake in MillerKnoll by 2.0% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 40,480 shares of the company’s stock worth $775,000 after purchasing an additional 801 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in MillerKnoll by 7.1% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 197,932 shares of the company’s stock worth $3,788,000 after purchasing an additional 13,099 shares in the last quarter. Jane Street Group LLC boosted its stake in MillerKnoll by 311.8% in the 1st quarter. Jane Street Group LLC now owns 414,275 shares of the company’s stock worth $7,929,000 after purchasing an additional 313,684 shares in the last quarter. Finally, Hsbc Holdings PLC boosted its stake 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 in the last quarter. 87.50% of the stock is currently owned by institutional investors and hedge funds.

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.