Invesco Ltd. Lowers Stake in MillerKnoll, Inc. $MLKN

Key Points

• Invesco Ltd. has reduced its stake in MillerKnoll, Inc. by 6.3%, now owning approximately 2.81% of the company, worth around $36.5 million.
• MillerKnoll recently reported earnings of $0.60 per share, exceeding analyst estimates, with a revenue growth of 8.2% year-over-year.
• The company announced a quarterly dividend of $0.1875, equating to an annualized dividend yield of 3.6%, although it has a negative dividend payout ratio of -133.93%.

Invesco Ltd. lowered its stake in shares of MillerKnoll, Inc. (NASDAQ:MLKN - Free Report) by 6.3% in the first quarter, according to its most recent 13F filing with the SEC. The firm owned 1,905,171 shares of the company's stock after selling 128,056 shares during the period. Invesco Ltd. owned approximately 2.81% of MillerKnoll worth $36,465,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in MLKN. Raymond James Financial Inc. acquired a new stake in MillerKnoll during the 4th quarter worth approximately $773,000. Sterling Capital Management LLC lifted its holdings in MillerKnoll by 793.5% during the 4th quarter. Sterling Capital Management LLC now owns 2,198 shares of the company's stock worth $50,000 after buying an additional 1,952 shares in the last quarter. Barclays PLC lifted its holdings in MillerKnoll by 4.9% during the 4th quarter. Barclays PLC now owns 125,186 shares of the company's stock worth $2,828,000 after buying an additional 5,797 shares in the last quarter. First Trust Advisors LP lifted its holdings in MillerKnoll by 28.9% during the 4th quarter. First Trust Advisors LP now owns 141,554 shares of the company's stock worth $3,198,000 after buying an additional 31,762 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its holdings in MillerKnoll by 3.3% during the 4th quarter. Dimensional Fund Advisors LP now owns 3,820,581 shares of the company's stock worth $86,306,000 after buying an additional 121,478 shares in the last quarter. 87.50% of the stock is currently owned by institutional investors and hedge funds.

MillerKnoll Price Performance

Shares of MLKN opened at $21.11 on Tuesday. MillerKnoll, Inc. has a twelve month low of $15.25 and a twelve month high of $30.56. The firm's fifty day simple moving average is $19.48 and its 200-day simple moving average is $18.91. The firm has a market capitalization of $1.43 billion, a price-to-earnings ratio of -37.70, a PEG ratio of 0.98 and a beta of 1.22. The company has a current ratio of 1.58, a quick ratio of 0.94 and a debt-to-equity ratio of 1.03.

MillerKnoll (NASDAQ:MLKN - Get Free Report) last announced its quarterly earnings data on Wednesday, June 25th. The company reported $0.60 earnings per share for the quarter, beating analysts' consensus estimates of $0.44 by $0.16. MillerKnoll had a negative net margin of 1.01% and a positive return on equity of 10.44%. The business had revenue of $961.80 million for the quarter, compared to analyst estimates of $913.80 million. During the same period last year, the business earned $0.67 EPS. The company's revenue was up 8.2% on a year-over-year basis. Equities analysts forecast that MillerKnoll, Inc. will post 2.12 EPS for the current fiscal year.

MillerKnoll Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 15th. Investors of record on Sunday, August 31st will be given a $0.1875 dividend. This represents a $0.75 dividend on an annualized basis and a dividend yield of 3.6%. The ex-dividend date of this dividend is Friday, August 29th. MillerKnoll's dividend payout ratio (DPR) is -133.93%.

Analysts Set New Price Targets

MLKN has been the topic of a number of research reports. Benchmark upgraded shares of MillerKnoll to a "hold" rating in a report on Friday, June 27th. Wall Street Zen upgraded shares of MillerKnoll from a "hold" rating to a "buy" rating in a report on Monday, May 12th.

MillerKnoll Company 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.

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