Hsbc Holdings PLC Raises Stake in MillerKnoll, Inc. $MLKN

Key Points

• HSBC Holdings PLC increased its stake in MillerKnoll by 240.9% in the fourth quarter, ending with 80,559 shares valued at about $1.49 million.
• Analyst sentiment is mixed, but the overall consensus on MillerKnoll is currently “Hold” after several recent rating changes.
• MillerKnoll reported better-than-expected quarterly earnings and revenue, and it also announced a quarterly dividend of $0.1875 per share for a 3.7% annualized yield.

Hsbc Holdings PLC lifted its stake in shares of MillerKnoll, Inc. (NASDAQ:MLKN - Free Report) by 240.9% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 80,559 shares of the company's stock after acquiring an additional 56,927 shares during the period. Hsbc Holdings PLC owned 0.12% of MillerKnoll worth $1,488,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Osaic Holdings Inc. grew its position in MillerKnoll by 36.5% in the second quarter. Osaic Holdings Inc. now owns 1,941 shares of the company's stock worth $38,000 after acquiring an additional 519 shares during the period. Lloyd Advisory Services LLC. acquired a new stake in MillerKnoll during the fourth quarter worth $46,000. Harbour Investments Inc. lifted its stake in shares of MillerKnoll by 47.7% in the 4th quarter. Harbour Investments Inc. now owns 3,095 shares of the company's stock valued at $57,000 after purchasing an additional 1,000 shares during the last quarter. Johnson Financial Group Inc. acquired a new position in shares of MillerKnoll in the 3rd quarter valued at $72,000. Finally, Canada Pension Plan Investment Board purchased a new position in shares of MillerKnoll during the 2nd quarter worth $82,000. Institutional investors and hedge funds own 87.50% of the company's stock.

Analysts Set New Price Targets

A number of analysts recently issued reports on the company. Zacks Research raised MillerKnoll from a "strong sell" rating to a "hold" rating in a research report on Tuesday, May 26th. Wall Street Zen cut shares of MillerKnoll from a "buy" rating to a "hold" rating in a research report on Sunday, July 5th. Finally, Weiss Ratings cut shares of MillerKnoll from a "sell (d+)" rating to a "sell (d)" rating in a research report on Friday, June 26th. One investment analyst has rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, MillerKnoll presently has a consensus rating of "Hold".

MillerKnoll Trading Up 0.9%

Shares of MLKN traded up $0.18 during midday trading on Friday, hitting $20.16. 408,155 shares of the stock were exchanged, compared to its average volume of 1,033,265. MillerKnoll, Inc. has a 52-week low of $13.77 and a 52-week high of $23.18. The company has a debt-to-equity ratio of 0.94, a quick ratio of 0.90 and a current ratio of 1.58. The stock has a fifty day simple moving average of $16.72 and a 200 day simple moving average of $18.02. The firm has a market cap of $1.38 billion, a P/E ratio of 15.27, a P/E/G ratio of 0.83 and a beta of 1.36.

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

MillerKnoll Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 15th. Stockholders of record on Saturday, May 30th will be given a dividend of $0.1875 per share. This represents a $0.75 annualized dividend and a dividend yield of 3.7%. The ex-dividend date of this dividend is Friday, May 29th. MillerKnoll's dividend payout ratio is currently 56.82%.

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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