MillerKnoll, Inc. (NASDAQ:MLKN) Sees Large Increase in Short Interest

MillerKnoll, Inc. (NASDAQ:MLKN) was the recipient of a large increase in short interest in the month of February. As of February 27th, there was short interest totaling 1,934,332 shares, an increase of 19.4% from the February 12th total of 1,620,482 shares. Based on an average trading volume of 456,738 shares, the short-interest ratio is currently 4.2 days. Currently, 3.0% of the shares of the company are sold short. Currently, 3.0% of the shares of the company are sold short. Based on an average trading volume of 456,738 shares, the short-interest ratio is currently 4.2 days.

Wall Street Analysts Forecast Growth

MLKN has been the subject of a number of research reports. William Blair started coverage on MillerKnoll in a research report on Tuesday, February 10th. They set an “outperform” rating for the company. Zacks Research downgraded MillerKnoll from a “strong-buy” rating to a “hold” rating in a report on Monday, December 1st. Wall Street Zen lowered MillerKnoll from a “buy” rating to a “hold” rating in a research report on Saturday, January 10th. Finally, Weiss Ratings reissued a “sell (d+)” rating on shares of MillerKnoll in a research report on Monday, December 29th. One analyst has rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold”.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of MLKN. Vanguard Group Inc. increased its stake in shares of MillerKnoll by 7.9% in the 4th quarter. Vanguard Group Inc. now owns 8,550,194 shares of the company’s stock valued at $156,298,000 after purchasing an additional 623,035 shares in the last quarter. Alliancebernstein L.P. grew its holdings in 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. Deprince Race & Zollo Inc. grew its holdings in MillerKnoll by 27.2% in the fourth quarter. Deprince Race & Zollo Inc. now owns 2,530,994 shares of the company’s stock valued at $46,267,000 after purchasing an additional 541,638 shares during the period. Invesco Ltd. increased its position in shares of MillerKnoll by 8.0% in the fourth quarter. Invesco Ltd. now owns 1,956,425 shares of the company’s stock valued at $35,763,000 after buying an additional 145,544 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its stake in shares of MillerKnoll by 3.4% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,552,213 shares of the company’s stock worth $28,374,000 after buying an additional 50,843 shares during the period. Institutional investors and hedge funds own 87.50% of the company’s stock.

MillerKnoll Stock Performance

MLKN stock traded down $0.11 during trading on Wednesday, hitting $17.97. 164,191 shares of the company traded hands, compared to its average volume of 511,810. The stock’s 50-day simple moving average is $20.30 and its 200 day simple moving average is $18.33. The company has a debt-to-equity ratio of 1.02, a current ratio of 1.66 and a quick ratio of 0.95. The company has a market cap of $1.23 billion, a PE ratio of -45.97, a P/E/G ratio of 0.81 and a beta of 1.31. MillerKnoll has a 1 year low of $13.77 and a 1 year high of $23.18.

MillerKnoll (NASDAQ:MLKN) last released its quarterly earnings data on Wednesday, December 17th. The company reported $0.43 EPS for the quarter, topping the consensus estimate of $0.40 by $0.03. The business had revenue of $955.20 million for the quarter, compared to analyst estimates of $943.13 million. MillerKnoll had a positive return on equity of 10.32% and a negative net margin of 0.68%.The business’s quarterly revenue was down 1.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.55 EPS. On average, equities analysts expect that MillerKnoll will post 2.12 earnings per share for the current fiscal year.

MillerKnoll Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 15th. Investors of record on Saturday, February 28th will be issued a dividend of $0.1875 per share. The ex-dividend date of this dividend is Friday, February 27th. This represents a $0.75 dividend on an annualized basis and a yield of 4.2%. MillerKnoll’s dividend payout ratio is -192.31%.

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.