MillerKnoll (NASDAQ:MLKN) Upgraded at Benchmark

Benchmark upgraded shares of MillerKnoll (NASDAQ:MLKN) from a hold rating to a strong-buy rating in a research note released on Tuesday morning,Zacks reports.

A number of other brokerages have also weighed in on MLKN. Wall Street Zen lowered MillerKnoll from a “buy” rating to a “hold” rating in a report on Sunday, July 26th. Weiss Ratings raised MillerKnoll from a “hold (c)” rating to a “hold (c+)” rating in a research note on Tuesday, August 11th. One research 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. According to MarketBeat.com, MillerKnoll has an average rating of “Moderate Buy”.

MillerKnoll Stock Performance

Shares of MLKN opened at $20.77 on Tuesday. 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 capitalization of $1.43 billion, a P/E ratio of 14.73, a P/E/G ratio of 0.85 and a beta of 1.36. The company’s fifty day moving average is $22.09 and its two-hundred day moving average is $19.00. MillerKnoll has a 1 year low of $13.77 and a 1 year high of $24.71.

MillerKnoll (NASDAQ:MLKN) last released its earnings results on Tuesday, September 22nd. The company reported $0.53 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 analysts’ expectations of $940.93 million. MillerKnoll had a net margin of 2.57% and a return on equity of 10.10%. The business’s revenue was down 3.4% on a year-over-year basis. During the same quarter last year, the business earned $0.45 EPS. 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, sell-side analysts predict that MillerKnoll will post 2.02 earnings per share for the current year.

MillerKnoll Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 15th. Shareholders of record on Saturday, August 29th will be given a dividend of $0.1875 per share. This represents a $0.75 dividend on an annualized basis and a yield of 3.6%. The ex-dividend date is Friday, August 28th. MillerKnoll’s payout ratio is presently 53.19%.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in MLKN. Versant Capital Management Inc lifted its position in MillerKnoll by 166.5% in the second quarter. Versant Capital Management Inc now owns 1,250 shares of the company’s stock worth $26,000 after purchasing an additional 781 shares during the period. Illinois Municipal Retirement Fund increased its holdings in MillerKnoll by 3.5% in the 1st quarter. Illinois Municipal Retirement Fund now owns 36,567 shares of the company’s stock valued at $529,000 after buying an additional 1,241 shares during the period. Nykredit A S bought a new stake in MillerKnoll in the 2nd quarter valued at $28,000. Quantbot Technologies LP acquired a new position in shares of MillerKnoll in the 2nd quarter valued at $29,000. Finally, PNC Financial Services Group Inc. raised its stake in shares of MillerKnoll by 7.0% in the 1st quarter. PNC Financial Services Group Inc. now owns 22,170 shares of the company’s stock valued at $321,000 after buying an additional 1,455 shares in the last quarter. Hedge funds and other institutional investors own 87.50% of the company’s stock.

About MillerKnoll

MillerKnoll, Inc is a global design company that develops furnishings and related products for workplaces, homes, healthcare facilities, educational institutions and hospitality environments. Its offerings include seating, desks, tables, storage, lighting, textiles and accessories, as well as solutions designed to support collaboration, privacy and flexible work settings.

The company’s portfolio includes brands such as Herman Miller, Knoll, Design Within Reach, Muuto, HAY, Maharam and Colebrook Bosson Saunders.