Bank of America Corp DE Sells 138,733 Shares of MillerKnoll, Inc. (NASDAQ:MLKN)

Bank of America Corp DE cut its stake in MillerKnoll, Inc. (NASDAQ:MLKN - Free Report) by 27.2% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 371,199 shares of the company's stock after selling 138,733 shares during the quarter. Bank of America Corp DE owned 0.54% of MillerKnoll worth $8,385,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Smartleaf Asset Management LLC increased its stake in shares of MillerKnoll by 458.4% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,463 shares of the company's stock valued at $33,000 after acquiring an additional 1,201 shares during the last quarter. Avior Wealth Management LLC increased its stake in shares of MillerKnoll by 228.8% in the 4th quarter. Avior Wealth Management LLC now owns 2,081 shares of the company's stock valued at $47,000 after acquiring an additional 1,448 shares during the last quarter. Sterling Capital Management LLC increased its stake in shares of MillerKnoll by 793.5% in the 4th quarter. Sterling Capital Management LLC now owns 2,198 shares of the company's stock valued at $50,000 after acquiring an additional 1,952 shares during the last quarter. KBC Group NV increased its stake in shares of MillerKnoll by 62.9% in the 4th quarter. KBC Group NV now owns 3,319 shares of the company's stock valued at $75,000 after acquiring an additional 1,281 shares during the last quarter. Finally, Dark Forest Capital Management LP acquired a new position in shares of MillerKnoll in the 4th quarter valued at approximately $221,000. 87.50% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts recently issued reports on MLKN shares. Sidoti upgraded MillerKnoll to a "hold" rating in a research report on Tuesday, March 25th. Wall Street Zen upgraded MillerKnoll from a "hold" rating to a "buy" rating in a research report on Monday, May 12th.

MillerKnoll Stock Up 2.4%

Shares of MLKN traded up $0.41 on Thursday, hitting $17.19. The company's stock had a trading volume of 398,178 shares, compared to its average volume of 597,867. The company has a quick ratio of 0.99, a current ratio of 1.60 and a debt-to-equity ratio of 1.02. The firm's fifty day moving average price is $17.02 and its 200-day moving average price is $20.63. MillerKnoll, Inc. has a fifty-two week low of $15.25 and a fifty-two week high of $31.73. The firm has a market capitalization of $1.16 billion, a price-to-earnings ratio of 18.89, a P/E/G ratio of 0.89 and a beta of 1.17.

MillerKnoll (NASDAQ:MLKN - Get Free Report) last issued its quarterly earnings data on Wednesday, March 26th. The company reported $0.44 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.44. MillerKnoll had a return on equity of 10.74% and a net margin of 1.81%. The business had revenue of $876.20 million during the quarter, compared to analyst estimates of $918.88 million. During the same period in the previous year, the firm earned $0.45 EPS. MillerKnoll's quarterly revenue was up .4% compared to the same quarter last year. On average, equities research analysts expect that MillerKnoll, Inc. will post 2.12 EPS for the current year.

MillerKnoll Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Sunday, June 1st will be paid a dividend of $0.1875 per share. The ex-dividend date of this dividend is Friday, May 30th. This represents a $0.75 annualized dividend and a dividend yield of 4.36%. MillerKnoll's dividend payout ratio is currently 178.57%.

MillerKnoll 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.