MillerKnoll, Inc. (NASDAQ:MLKN) Shares Sold by New York State Common Retirement Fund

Key Points

• New York State Common Retirement Fund reduced its stake in MillerKnoll, Inc. by 55.0% during Q1, now holding 22,187 shares valued at approximately $425,000.
• The company reported better-than-expected earnings of $0.60 per share for the last quarter, surpassing analyst estimates of $0.44, with an 8.2% year-over-year revenue increase.
• MillerKnoll has announced a quarterly dividend of $0.1875 per share, resulting in a yield of 3.72%, despite a negative dividend payout ratio of -133.93%.

New York State Common Retirement Fund lessened its stake in shares of MillerKnoll, Inc. (NASDAQ:MLKN - Free Report) by 55.0% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 22,187 shares of the company's stock after selling 27,074 shares during the quarter. New York State Common Retirement Fund's holdings in MillerKnoll were worth $425,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Studio Investment Management LLC increased its stake in shares of MillerKnoll by 29.9% during the fourth quarter. Studio Investment Management LLC now owns 2,149 shares of the company's stock valued at $49,000 after acquiring an additional 495 shares during the period. Sterling Capital Management LLC boosted its holdings in MillerKnoll by 793.5% during the fourth 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. Dark Forest Capital Management LP acquired a new position in MillerKnoll in the fourth quarter worth approximately $221,000. Cetera Investment Advisers bought a new position in shares of MillerKnoll in the fourth quarter valued at $237,000. Finally, Mitsubishi UFJ Trust & Banking Corp bought a new position in shares of MillerKnoll in the fourth quarter valued at $238,000. Institutional investors and hedge funds own 87.50% of the company's stock.

MillerKnoll Price Performance

NASDAQ MLKN opened at $20.17 on Friday. The stock has a market capitalization of $1.37 billion, a P/E ratio of -36.02, a P/E/G ratio of 0.91 and a beta of 1.20. MillerKnoll, Inc. has a 1 year low of $15.25 and a 1 year high of $31.73. The business's fifty day moving average is $18.45 and its two-hundred day moving average is $19.17. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.94 and a current ratio of 1.58.

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

MillerKnoll Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Sunday, August 31st will be paid a dividend of $0.1875 per share. This represents a $0.75 annualized dividend and a yield of 3.72%. The ex-dividend date is Friday, August 29th. MillerKnoll's dividend payout ratio (DPR) is currently -133.93%.

Wall Street Analysts Forecast Growth

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

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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