MillerKnoll (NASDAQ:MLKN) Cut to Hold at Wall Street Zen

Wall Street Zen cut shares of MillerKnoll (NASDAQ:MLKN) from a buy rating to a hold rating in a report published on Sunday morning,Wall Street Zen reports.

Several other equities research analysts have also issued reports on the company. Benchmark raised MillerKnoll from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, October 6th. Weiss Ratings upgraded MillerKnoll from a “hold (c)” rating to a “hold (c+)” rating in a research report on Tuesday, August 11th. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat, MillerKnoll presently has a consensus rating of “Moderate Buy”.

MillerKnoll Stock Performance

MillerKnoll stock opened at $21.94 on Friday. The firm’s fifty day moving average price is $21.13 and its 200-day moving average price is $19.57. The company has a debt-to-equity ratio of 0.94, a quick ratio of 0.90 and a current ratio of 1.65. The stock has a market cap of $1.51 billion, a P/E ratio of 11.51, a price-to-earnings-growth ratio of 0.92 and a beta of 1.37. MillerKnoll has a fifty-two week low of $13.77 and a fifty-two week high of $24.71.

MillerKnoll (NASDAQ:MLKN) last announced its earnings results on Tuesday, September 22nd. The company reported $0.53 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.35 by $0.18. The company had revenue of $923.40 million during the quarter, compared to analyst estimates of $940.93 million. MillerKnoll had a net margin of 2.57% and a return on equity of 10.10%. The firm’s quarterly revenue was down 3.4% compared to the same quarter last year. During the same period in the previous year, the business earned $0.45 earnings per share. MillerKnoll has set its FY 2027 guidance at 1.850-2.150 EPS and its Q2 2027 guidance at 0.430-0.490 EPS. On average, equities research analysts expect that MillerKnoll will post 2.02 earnings per share for the current fiscal year.

MillerKnoll Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 15th. Investors of record on Saturday, November 28th will be issued a dividend of $0.1875 per share. The ex-dividend date of this dividend is Friday, November 27th. This represents a $0.75 annualized dividend and a dividend yield of 3.4%. MillerKnoll’s dividend payout ratio (DPR) is currently 53.19%.

Hedge Funds Weigh In On MillerKnoll

A number of large investors have recently added to or reduced their stakes in the business. BlackRock Inc. purchased a new stake in MillerKnoll during the second quarter valued at about $213,054,000. Dimensional Fund Advisors LP lifted its stake in shares of MillerKnoll by 2.9% in the 1st quarter. Dimensional Fund Advisors LP now owns 3,610,776 shares of the company’s stock valued at $52,211,000 after acquiring an additional 103,372 shares during the last quarter. Pzena Investment Management LLC bought a new stake in shares of MillerKnoll in the 2nd quarter valued at about $62,049,000. Wellington Management Group LLP lifted its stake in shares of MillerKnoll by 12.8% in the 2nd quarter. Wellington Management Group LLP now owns 1,390,128 shares of the company’s stock valued at $28,442,000 after acquiring an additional 157,355 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership boosted its holdings in MillerKnoll by 41.1% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 1,259,388 shares of the company’s stock valued at $18,211,000 after acquiring an additional 366,726 shares during the period. Hedge funds and other institutional investors own 87.50% of the company’s stock.

MillerKnoll Company Profile

MillerKnoll, Inc. is a global design and furniture company that creates, manufactures and sells furnishings and related products for workplaces, homes and public spaces. Its offerings include office chairs, desks, tables, storage, lighting, textiles and accessories. The company’s portfolio includes brands such as Herman Miller, Knoll, Design Within Reach, HAY and Muuto. Its products serve businesses, institutions, design professionals and residential customers through a mix of direct sales, showrooms, dealers and online channels.