SG Americas Securities LLC Increases Holdings in MillerKnoll, Inc. $MLKN

Key Points

• SG Americas Securities LLC boosted its stake in MillerKnoll by 755% in Q4, purchasing 422,735 shares to hold 478,727 shares (~0.70% of the company) valued at about $8.75 million.
• MillerKnoll missed its most recent quarter with EPS of $0.43 vs. $0.45 expected and revenue of $926.6M vs. $941.95M, and it trades at a market capitalization of roughly $961.6M with a P/E of about 100.6.
• The company declared a quarterly dividend of $0.1875 (annualized $0.75, ~5.3% yield) despite a highly elevated payout ratio of 535.7%, and analysts hold a consensus "Hold" rating on the stock.

SG Americas Securities LLC increased its position in MillerKnoll, Inc. (NASDAQ:MLKN - Free Report) by 755.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 478,727 shares of the company's stock after purchasing an additional 422,735 shares during the quarter. SG Americas Securities LLC owned approximately 0.70% of MillerKnoll worth $8,751,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Osaic Holdings Inc. lifted its holdings in shares of MillerKnoll by 36.5% in the 2nd quarter. Osaic Holdings Inc. now owns 1,941 shares of the company's stock worth $38,000 after buying an additional 519 shares during the period. Johnson Financial Group Inc. purchased a new position in shares of MillerKnoll during the third quarter valued at $72,000. Canada Pension Plan Investment Board bought a new stake in shares of MillerKnoll in the second quarter valued at about $82,000. Strs Ohio bought a new stake in shares of MillerKnoll in the third quarter valued at about $85,000. Finally, Rexford Capital Inc. purchased a new stake in MillerKnoll in the second quarter worth about $101,000. 87.50% of the stock is owned by institutional investors.

MillerKnoll Stock Performance

Shares of MillerKnoll stock opened at $14.09 on Tuesday. The company has a market capitalization of $961.64 million, a PE ratio of 100.64, a P/E/G ratio of 0.69 and a beta of 1.31. The company has a 50-day simple moving average of $19.94 and a two-hundred day simple moving average of $18.10. MillerKnoll, Inc. has a one year low of $13.77 and a one year high of $23.18. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.92 and a current ratio of 1.64.

MillerKnoll (NASDAQ:MLKN - Get Free Report) last issued its quarterly earnings data on Wednesday, March 25th. The company reported $0.43 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.45 by ($0.02). The firm had revenue of $926.60 million during the quarter, compared to analysts' expectations of $941.95 million. MillerKnoll had a return on equity of 10.11% and a net margin of 0.28%.The firm's quarterly revenue was up 5.7% on a year-over-year basis. During the same period in the previous year, the firm earned $0.44 EPS. Research analysts expect that MillerKnoll, Inc. will post 2.12 EPS for the current fiscal year.

MillerKnoll Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 15th. Shareholders of record on Saturday, February 28th will be issued a $0.1875 dividend. This represents a $0.75 annualized dividend and a yield of 5.3%. The ex-dividend date of this dividend is Friday, February 27th. MillerKnoll's payout ratio is currently 535.71%.

Analysts Set New Price Targets

A number of research firms have commented on MLKN. Weiss Ratings reissued a "sell (d+)" rating on shares of MillerKnoll in a research report on Monday, December 29th. William Blair initiated coverage on shares of MillerKnoll in a research note on Tuesday, February 10th. They set an "outperform" rating on the stock. Zacks Research lowered shares of MillerKnoll from a "strong-buy" rating to a "hold" rating in a report on Monday, December 1st. Finally, Wall Street Zen downgraded shares of MillerKnoll from a "buy" rating to a "hold" rating in a research note on Saturday, January 10th. One equities research analyst has rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold".

About MillerKnoll

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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