MillerKnoll (NASDAQ:MLKN) Cut to Strong Sell at Zacks Research

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

A number of other analysts also recently commented on the company. Wall Street Zen downgraded MillerKnoll from a “buy” rating to a “hold” rating in a research note on Saturday, January 10th. William Blair initiated coverage on MillerKnoll in a research note on Tuesday, February 10th. They issued an “outperform” rating on the stock. Finally, Weiss Ratings reissued a “sell (d+)” rating on shares of MillerKnoll in a research note on Monday, December 29th. One analyst has rated the stock with a Buy rating, one has assigned a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, MillerKnoll has a consensus rating of “Reduce”.

MillerKnoll Stock Performance

MLKN opened at $15.25 on Tuesday. The business has a 50 day moving average price of $19.14 and a two-hundred day moving average price of $17.81. The company has a debt-to-equity ratio of 0.96, a current ratio of 1.64 and a quick ratio of 0.92. The company has a market capitalization of $1.04 billion, a price-to-earnings ratio of 108.93, a price-to-earnings-growth ratio of 0.69 and a beta of 1.41. MillerKnoll has a 1-year low of $13.77 and a 1-year high of $23.18.

MillerKnoll (NASDAQ:MLKN) last issued its quarterly earnings results on Wednesday, March 25th. The company reported $0.43 earnings per share (EPS) for the quarter, missing the consensus estimate 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 for the quarter, compared to analyst estimates of $941.95 million. During the same quarter last year, the business posted $0.44 earnings per share. The firm’s revenue for the quarter was up 5.7% compared to the same quarter last year. Research analysts predict that MillerKnoll will post 2.12 EPS for the current fiscal year.

MillerKnoll Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 15th. Shareholders of record on Saturday, February 28th will be issued a $0.1875 dividend. The ex-dividend date of this dividend is Friday, February 27th. This represents a $0.75 annualized dividend and a dividend yield of 4.9%. MillerKnoll’s dividend payout ratio is currently 535.71%.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Osaic Holdings Inc. increased its holdings in shares of MillerKnoll by 36.5% in the second quarter. Osaic Holdings Inc. now owns 1,941 shares of the company’s stock valued at $38,000 after buying an additional 519 shares in the last quarter. Lloyd Advisory Services LLC. bought a new position in shares of MillerKnoll in the fourth quarter valued at $46,000. Harbour Investments Inc. increased its holdings in shares of MillerKnoll by 47.7% in the fourth quarter. Harbour Investments Inc. now owns 3,095 shares of the company’s stock valued at $57,000 after buying an additional 1,000 shares in the last quarter. Johnson Financial Group Inc. bought a new position in shares of MillerKnoll in the third quarter valued at $72,000. Finally, Canada Pension Plan Investment Board bought a new position in shares of MillerKnoll in the second quarter valued at $82,000. Institutional investors own 87.50% of the company’s stock.

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.