Raymond James Financial Inc. Has $6.41 Million Holdings in MillerKnoll, Inc. $MLKN

Key Points

• Raymond James Financial Inc. significantly increased its stake in MillerKnoll, Inc., acquiring 334,772 shares after purchasing an additional 300,539 shares, totaling a value of approximately $6.41 million.
• MillerKnoll reported strong quarterly earnings, with $0.60 earnings per share, surpassing the analysts' estimates of $0.44 and showing an 8.2% increase in revenue year-over-year.
• The company declared a quarterly dividend of $0.1875 per share, which equates to a annual yield of 3.6%, despite a negative dividend payout ratio of -133.93%.

Raymond James Financial Inc. raised its stake in shares of MillerKnoll, Inc. (NASDAQ:MLKN - Free Report) by 877.9% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 334,772 shares of the company's stock after purchasing an additional 300,539 shares during the period. Raymond James Financial Inc. owned 0.49% of MillerKnoll worth $6,407,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the business. Deprince Race & Zollo Inc. bought a new position in shares of MillerKnoll in the fourth quarter worth about $32,283,000. Charles Schwab Investment Management Inc. increased its stake in shares of MillerKnoll by 2.4% in the first quarter. Charles Schwab Investment Management Inc. now owns 1,343,825 shares of the company's stock worth $25,721,000 after purchasing an additional 30,880 shares during the period. LSV Asset Management increased its stake in shares of MillerKnoll by 36.4% in the first quarter. LSV Asset Management now owns 1,280,484 shares of the company's stock worth $24,508,000 after purchasing an additional 342,048 shares during the period. Forager Capital Management LLC increased its stake in shares of MillerKnoll by 23.9% in the fourth quarter. Forager Capital Management LLC now owns 1,181,841 shares of the company's stock worth $26,698,000 after purchasing an additional 228,000 shares during the period. Finally, Millennium Management LLC increased its stake in shares of MillerKnoll by 43.7% in the fourth quarter. Millennium Management LLC now owns 877,809 shares of the company's stock worth $19,830,000 after purchasing an additional 267,097 shares during the period. 87.50% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts have recently commented on the company. Wall Street Zen upgraded MillerKnoll from a "hold" rating to a "buy" rating in a research note on Saturday. Zacks Research upgraded MillerKnoll from a "strong sell" rating to a "hold" rating in a research note on Monday, August 25th. Finally, Benchmark upgraded MillerKnoll to a "hold" rating in a research note on Friday, June 27th. Three equities research analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, MillerKnoll has a consensus rating of "Hold".

MillerKnoll Stock Performance

MLKN traded down $0.43 on Tuesday, hitting $20.58. 42,012 shares of the stock traded hands, compared to its average volume of 522,292. The company has a current ratio of 1.58, a quick ratio of 0.94 and a debt-to-equity ratio of 1.03. The business has a fifty day moving average price of $20.54 and a two-hundred day moving average price of $18.80. The firm has a market capitalization of $1.41 billion, a PE ratio of -36.74, a P/E/G ratio of 0.99 and a beta of 1.25. MillerKnoll, Inc. has a 52 week low of $15.25 and a 52 week high of $28.33.

MillerKnoll (NASDAQ:MLKN - Get Free Report) last released 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. The company had revenue of $961.80 million for the quarter, compared to the consensus estimate of $913.80 million. MillerKnoll had a positive return on equity of 10.44% and a negative net margin of 1.01%.The company's quarterly revenue was up 8.2% on a year-over-year basis. During the same period in the previous year, the business earned $0.67 earnings per share. MillerKnoll has set its Q1 2026 guidance at 0.320-0.38 EPS. On average, research analysts predict that MillerKnoll, Inc. will post 2.12 EPS for the current fiscal year.

MillerKnoll Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Sunday, August 31st will be issued a $0.1875 dividend. This represents a $0.75 annualized dividend and a dividend yield of 3.6%. The ex-dividend date of this dividend is Friday, August 29th. MillerKnoll's payout ratio is presently -133.93%.

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.