MillerKnoll, Inc. (NASDAQ:MLKN) Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp trimmed its stake in shares of MillerKnoll, Inc. (NASDAQ:MLKN) by 0.8% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 741,457 shares of the company’s stock after selling 6,137 shares during the period. Bank of New York Mellon Corp owned about 1.09% of MillerKnoll worth $14,191,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Deprince Race & Zollo Inc. acquired a new position in shares of MillerKnoll in the fourth quarter worth $32,283,000. Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in MillerKnoll during the 4th quarter worth about $6,576,000. Russell Investments Group Ltd. raised its stake in MillerKnoll by 198.0% in the 4th quarter. Russell Investments Group Ltd. now owns 433,884 shares of the company’s stock valued at $9,801,000 after purchasing an additional 288,304 shares during the last quarter. Millennium Management LLC lifted its holdings in MillerKnoll by 43.7% in the 4th quarter. Millennium Management LLC now owns 877,809 shares of the company’s stock valued at $19,830,000 after purchasing an additional 267,097 shares in the last quarter. Finally, Wellington Management Group LLP boosted its stake in shares of MillerKnoll by 39.9% during the 4th quarter. Wellington Management Group LLP now owns 804,105 shares of the company’s stock worth $18,165,000 after purchasing an additional 229,283 shares during the last quarter. Hedge funds and other institutional investors own 87.50% of the company’s stock.

MillerKnoll Trading Down 2.4%

Shares of MLKN opened at $19.40 on Friday. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.94 and a current ratio of 1.58. MillerKnoll, Inc. has a one year low of $15.25 and a one year high of $31.73. The stock has a 50-day moving average price of $18.25 and a 200 day moving average price of $19.24. The company has a market capitalization of $1.31 billion, a P/E ratio of -34.64, a P/E/G ratio of 0.89 and a beta of 1.20.

MillerKnoll (NASDAQ:MLKN) last posted its quarterly earnings results on Wednesday, June 25th. The company reported $0.60 EPS for the quarter, topping analysts’ consensus estimates of $0.44 by $0.16. The business had revenue of $961.80 million during the quarter, compared to the consensus estimate of $913.80 million. MillerKnoll had a positive return on equity of 10.44% and a negative net margin of 1.01%. During the same period last year, the firm earned $0.67 earnings per share. The company’s revenue for the quarter was up 8.2% compared to the same quarter last year. Sell-side analysts forecast that MillerKnoll, Inc. will post 2.12 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on MLKN. Sidoti upgraded MillerKnoll to a “hold” rating in a research report on Tuesday, March 25th. Benchmark upgraded shares of MillerKnoll to a “hold” rating in a report on Friday, June 27th. Finally, Wall Street Zen upgraded MillerKnoll from a “hold” rating to a “buy” rating in a report on Monday, May 12th.

MillerKnoll Profile

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.