US Bancorp DE Grows Stock Position in MillerKnoll, Inc. (NASDAQ:MLKN)

Key Points

• US Bancorp DE increased its holdings in MillerKnoll, Inc. by an astonishing 11,871.5% during the 1st quarter, bringing its total share count to 18,915, valued at $362,000.
• MillerKnoll's stock recently increased by 3.7% and has a current market cap of $1.47 billion, with recent earnings showing revenue growth of 8.2% year-over-year.
• The company has announced a quarterly dividend of $0.1875 per share, with a dividend yield of 3.5%, despite a negative dividend payout ratio of -133.93%.

US Bancorp DE grew its holdings in shares of MillerKnoll, Inc. (NASDAQ:MLKN - Free Report) by 11,871.5% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 18,915 shares of the company's stock after purchasing an additional 18,757 shares during the quarter. US Bancorp DE's holdings in MillerKnoll were worth $362,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Studio Investment Management LLC grew its stake in shares of MillerKnoll by 29.9% during the 4th 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 grew its stake in shares of MillerKnoll by 793.5% during 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 period. Dark Forest Capital Management LP bought a new position in shares of MillerKnoll during the 4th quarter valued at approximately $221,000. Cetera Investment Advisers bought a new position in shares of MillerKnoll during the 4th quarter valued at approximately $237,000. Finally, Allianz Asset Management GmbH bought a new position in shares of MillerKnoll during the 1st quarter valued at approximately $201,000. 87.50% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on MLKN. Wall Street Zen upgraded MillerKnoll from a "hold" rating to a "buy" rating in a research note on Monday, May 12th. Benchmark upgraded MillerKnoll to a "hold" rating in a research note on Friday, June 27th.

MillerKnoll Stock Up 3.7%

NASDAQ MLKN opened at $21.73 on Thursday. The stock's 50 day moving average is $19.24 and its 200 day moving average is $18.99. The company has a current ratio of 1.58, a quick ratio of 0.94 and a debt-to-equity ratio of 1.03. MillerKnoll, Inc. has a 12 month low of $15.25 and a 12 month high of $30.56. The stock has a market cap of $1.47 billion, a PE ratio of -38.80, a P/E/G ratio of 0.96 and a beta of 1.22.

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

MillerKnoll Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Sunday, August 31st will be issued a dividend of $0.1875 per share. This represents a $0.75 annualized dividend and a dividend yield of 3.5%. The ex-dividend date of this dividend is Friday, August 29th. MillerKnoll's dividend payout ratio is -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.

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