MillerKnoll, Inc. $MLKN Shares Sold by Hsbc Holdings PLC

Key Points

• HSBC Holdings cut its MillerKnoll stake by 59.8% in the first quarter, selling 48,208 shares and retaining 32,351 shares valued at approximately $467,000. Institutional investors collectively own 87.5% of the company.
• MillerKnoll reported quarterly revenue of $1 billion, up 4.4% year over year, while EPS of $0.55 exceeded estimates by $0.03. The company reaffirmed fiscal 2027 EPS guidance of $1.85 to $2.15.
• The company declared a quarterly dividend of $0.1875, representing an annualized yield of about 3.3%. Analysts maintain a consensus “Hold” rating, with one Buy and two Hold recommendations.

Hsbc Holdings PLC reduced its holdings in MillerKnoll, Inc. (NASDAQ:MLKN - Free Report) by 59.8% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 32,351 shares of the company's stock after selling 48,208 shares during the period. Hsbc Holdings PLC's holdings in MillerKnoll were worth $467,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Osaic Holdings Inc. raised its holdings in shares of 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 boosted its holdings in MillerKnoll by 4.4% in the fourth quarter. ProShare Advisors LLC now owns 13,308 shares of the company's stock valued at $243,000 after purchasing an additional 558 shares during the last quarter. Harbor Capital Advisors Inc. boosted its holdings in MillerKnoll by 9.9% in the fourth quarter. Harbor Capital Advisors Inc. now owns 7,676 shares of the company's stock valued at $140,000 after purchasing an additional 690 shares during the last quarter. State of Alaska Department of Revenue grew its position in MillerKnoll by 2.0% during the 4th quarter. State of Alaska Department of Revenue now owns 38,972 shares of the company's stock worth $711,000 after purchasing an additional 767 shares during the period. Finally, Rexford Capital Inc. raised its stake in shares of MillerKnoll by 17.0% during the 4th quarter. Rexford Capital Inc. now owns 5,500 shares of the company's stock valued at $101,000 after buying an additional 800 shares during the last quarter. Institutional investors and hedge funds own 87.50% of the company's stock.

MillerKnoll Stock Up 0.2%

MLKN opened at $22.52 on Friday. The company has a fifty day moving average of $18.67 and a two-hundred day moving average of $18.38. The stock has a market capitalization of $1.53 billion, a price-to-earnings ratio of 17.06, a PEG ratio of 0.93 and a beta of 1.36. MillerKnoll, Inc. has a fifty-two week low of $13.77 and a fifty-two week high of $23.77. 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 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 net margin of 2.38% and a return on equity of 9.77%. The business had revenue of $1 billion for the quarter, compared to analyst estimates of $973.87 million. During the same period in the prior year, the company posted $0.60 EPS. The company's revenue for the quarter 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 expect that MillerKnoll, Inc. will post 2.02 earnings per share for the current year.

MillerKnoll Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 15th. Investors 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 yield of 3.3%. MillerKnoll's dividend payout ratio is presently 56.82%.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. Zacks Research raised MillerKnoll from a "strong sell" rating to a "hold" rating in a report on Tuesday, May 26th. Weiss Ratings raised MillerKnoll from a "sell (d+)" rating to a "hold (c)" rating in a report on Friday, July 24th. Finally, Wall Street Zen cut MillerKnoll from a "buy" rating to a "hold" rating in a research report on Sunday, July 26th. One research analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, the stock 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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