Scharf Investments LLC Sells 814,654 Shares of MillerKnoll, Inc. (NASDAQ:MLKN)

Scharf Investments LLC decreased its position in MillerKnoll, Inc. (NASDAQ:MLKN - Free Report) by 96.0% during the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 33,939 shares of the company's stock after selling 814,654 shares during the quarter. Scharf Investments LLC owned approximately 0.05% of MillerKnoll worth $650,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Smartleaf Asset Management LLC raised its position in MillerKnoll by 458.4% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,463 shares of the company's stock worth $33,000 after acquiring an additional 1,201 shares during the period. Studio Investment Management LLC raised its holdings in MillerKnoll by 29.9% in the 4th quarter. Studio Investment Management LLC now owns 2,149 shares of the company's stock worth $49,000 after purchasing an additional 495 shares during the period. Sterling Capital Management LLC raised its holdings in MillerKnoll by 793.5% in the 4th quarter. Sterling Capital Management LLC now owns 2,198 shares of the company's stock worth $50,000 after purchasing an additional 1,952 shares during the period. Dark Forest Capital Management LP bought a new position in MillerKnoll in the 4th quarter worth $221,000. Finally, Cetera Investment Advisers bought a new position in shares of MillerKnoll in the fourth quarter worth about $237,000. Institutional investors own 87.50% of the company's stock.

MillerKnoll Price Performance

MLKN traded up $2.20 on Thursday, hitting $19.82. 2,101,397 shares of the company's stock traded hands, compared to its average volume of 602,762. The company's 50 day simple moving average is $16.93 and its 200-day simple moving average is $19.60. The firm has a market cap of $1.34 billion, a price-to-earnings ratio of -35.39, a P/E/G ratio of 0.77 and a beta of 1.17. MillerKnoll, Inc. has a one year low of $15.25 and a one year high of $31.73. The company has a current ratio of 1.67, a quick ratio of 1.05 and a debt-to-equity ratio of 1.02.

MillerKnoll (NASDAQ:MLKN - Get Free Report) last announced its quarterly earnings results on Wednesday, June 25th. The company reported $0.60 earnings per share (EPS) 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 negative net margin of 1.01% and a positive return on equity of 10.40%. MillerKnoll's revenue for the quarter was up 8.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.67 EPS. As a group, research analysts anticipate that MillerKnoll, Inc. will post 2.12 EPS for the current year.

MillerKnoll Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Sunday, June 1st will be issued a $0.1875 dividend. The ex-dividend date is Friday, May 30th. This represents a $0.75 annualized dividend and a dividend yield of 3.78%. MillerKnoll's dividend payout ratio (DPR) is 178.57%.

Wall Street Analysts Forecast Growth

MLKN has been the topic of several recent research reports. Sidoti raised MillerKnoll to a "hold" rating in a research note on Tuesday, March 25th. Wall Street Zen upgraded shares of MillerKnoll from a "hold" rating to a "buy" rating in a research note 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.