Bank of America Corp DE Buys 113,932 Shares of MillerKnoll, Inc. $MLKN

Key Points

• Bank of America increased its MillerKnoll stake by 15.8% in the first quarter, buying 113,932 additional shares to hold 836,007 shares worth approximately $12.1 million. Institutional investors collectively own 87.5% of MLKN.
• MillerKnoll reported quarterly earnings of $0.55 per share, exceeding estimates of $0.52, while revenue rose 4.4% year over year to approximately $1 billion.
• The company declared a quarterly dividend of $0.1875, equal to an annualized $0.75 and a 3.3% yield. Analysts maintain a consensus “Hold” rating, with shares recently trading near $23.03.

Bank of America Corp DE increased its stake in MillerKnoll, Inc. (NASDAQ:MLKN - Free Report) by 15.8% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 836,007 shares of the company's stock after purchasing an additional 113,932 shares during the period. Bank of America Corp DE owned approximately 1.22% of MillerKnoll worth $12,089,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Osaic Holdings Inc. boosted its holdings in MillerKnoll by 36.5% during the second quarter. Osaic Holdings Inc. now owns 1,941 shares of the company's stock worth $38,000 after purchasing an additional 519 shares during the last quarter. ProShare Advisors LLC increased its stake in MillerKnoll by 4.4% in the 4th quarter. ProShare Advisors LLC now owns 13,308 shares of the company's stock valued at $243,000 after buying an additional 558 shares during the last quarter. Rexford Capital Inc. lifted its position in MillerKnoll by 17.0% during the 4th quarter. Rexford Capital Inc. now owns 5,500 shares of the company's stock worth $101,000 after buying an additional 800 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in MillerKnoll by 2.0% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 40,480 shares of the company's stock worth $775,000 after buying an additional 801 shares in the last quarter. Finally, Harbour Investments Inc. boosted its stake in shares of MillerKnoll by 47.7% during the 4th quarter. Harbour Investments Inc. now owns 3,095 shares of the company's stock worth $57,000 after buying an additional 1,000 shares during the last quarter. 87.50% of the stock is currently owned by institutional investors.

MillerKnoll Price Performance

NASDAQ:MLKN opened at $23.03 on Friday. MillerKnoll, Inc. has a one year low of $13.77 and a one year high of $24.71. The stock has a market cap of $1.57 billion, a PE ratio of 17.45, a P/E/G ratio of 0.95 and a beta of 1.36. The stock has a 50 day moving average price of $21.16 and a 200 day moving average price of $18.82. The company has a debt-to-equity ratio of 0.94, a quick ratio of 0.90 and a current ratio of 1.58.

MillerKnoll (NASDAQ:MLKN - Get Free Report) last announced its quarterly earnings results on Wednesday, June 24th. The company reported $0.55 earnings per share for the quarter, beating analysts' consensus estimates of $0.52 by $0.03. The business had revenue of $1 billion during the quarter, compared to analysts' expectations of $973.87 million. MillerKnoll had a net margin of 2.38% and a return on equity of 9.77%. The business's revenue for the quarter was up 4.4% on a year-over-year basis. During the same period last year, the business earned $0.60 earnings per share. MillerKnoll has set its FY 2027 guidance at 1.850-2.150 EPS and its Q1 2027 guidance at 0.330-0.390 EPS. Equities research analysts expect that MillerKnoll, Inc. will post 2.02 EPS for the current fiscal year.

MillerKnoll Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 15th. Stockholders of record on Saturday, August 29th will be issued a $0.1875 dividend. The ex-dividend date of this dividend is Friday, August 28th. This represents a $0.75 dividend on an annualized basis and a dividend yield of 3.3%. MillerKnoll's payout ratio is presently 56.82%.

Analysts Set New Price Targets

MLKN has been the topic of several recent analyst reports. Zacks Research raised MillerKnoll from a "strong sell" rating to a "hold" rating in a research report on Tuesday, May 26th. Weiss Ratings raised shares of MillerKnoll from a "hold (c)" rating to a "hold (c+)" rating in a research note on Tuesday, August 11th. Finally, Wall Street Zen downgraded shares of MillerKnoll from a "buy" rating to a "hold" rating in a report on Sunday, July 26th. One investment analyst has rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, MillerKnoll presently has a consensus rating of "Hold".

MillerKnoll Profile

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.

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