MillerKnoll, Inc. (NASDAQ:MLKN) Short Interest Update

Key Points

• Short interest jumped 14.8% in April to 2,821,267 shares (around 4.4% of shares short), giving a short-interest ratio of about 2.8 days based on average daily volume.
• Analyst sentiment is mixed-to-negative — one Buy, one Hold and two Sell leaving a MarketBeat average rating of "Reduce", with recent downgrades from Weiss and Zacks.
• MillerKnoll pays a quarterly dividend of $0.1875 (annualized $0.75) for a 4.7% yield (ex-dividend May 29, payable July 15), but the payout ratio is extremely high at 535.71%, suggesting potential sustainability concerns.

MillerKnoll, Inc. (NASDAQ:MLKN - Get Free Report) was the target of a significant increase in short interest during the month of April. As of April 15th, there was short interest totaling 2,821,267 shares, an increase of 14.8% from the March 31st total of 2,457,868 shares. Approximately 4.4% of the company's shares are short sold. Based on an average daily trading volume, of 1,003,499 shares, the short-interest ratio is currently 2.8 days.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on MLKN shares. Weiss Ratings reissued a "sell (d+)" rating on shares of MillerKnoll in a research report on Friday, April 24th. William Blair started coverage on shares of MillerKnoll in a research report on Tuesday, February 10th. They issued an "outperform" rating for the company. Zacks Research lowered shares of MillerKnoll from a "hold" rating to a "strong sell" rating in a research report on Tuesday, April 7th. Finally, Wall Street Zen lowered shares of MillerKnoll from a "buy" rating to a "hold" rating in a research report on Saturday, January 10th. One analyst has rated the stock with a Buy rating, one has assigned a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Reduce".

Institutional Investors Weigh In On MillerKnoll

Several large investors have recently made changes to their positions in MLKN. Osaic Holdings Inc. increased its position in shares of MillerKnoll by 36.5% in the second quarter. Osaic Holdings Inc. now owns 1,941 shares of the company's stock worth $38,000 after acquiring an additional 519 shares in the last quarter. Lloyd Advisory Services LLC. acquired a new stake in shares of MillerKnoll in the fourth quarter worth $46,000. Harbour Investments Inc. increased its position in shares of MillerKnoll by 47.7% in the fourth quarter. Harbour Investments Inc. now owns 3,095 shares of the company's stock worth $57,000 after acquiring an additional 1,000 shares in the last quarter. Johnson Financial Group Inc. acquired a new stake in shares of MillerKnoll in the third quarter worth $72,000. Finally, Canada Pension Plan Investment Board acquired a new stake in shares of MillerKnoll in the second quarter worth $82,000. Institutional investors and hedge funds own 87.50% of the company's stock.

MillerKnoll Stock Performance

NASDAQ:MLKN opened at $16.08 on Friday. The company has a quick ratio of 0.92, a current ratio of 1.64 and a debt-to-equity ratio of 0.96. The company has a market cap of $1.10 billion, a P/E ratio of 114.86, a P/E/G ratio of 0.73 and a beta of 1.41. MillerKnoll has a fifty-two week low of $13.77 and a fifty-two week high of $23.18. The firm's 50 day moving average is $17.63 and its two-hundred day moving average is $17.73.

MillerKnoll (NASDAQ:MLKN - Get Free Report) last posted its quarterly earnings results on Wednesday, March 25th. The company reported $0.43 earnings per share for the quarter, missing analysts' consensus estimates of $0.45 by ($0.02). MillerKnoll had a return on equity of 10.11% and a net margin of 0.28%.The company had revenue of $926.60 million for the quarter, compared to analysts' expectations of $941.95 million. During the same period in the prior year, the business earned $0.44 EPS. The business's revenue for the quarter was up 5.7% on a year-over-year basis. Analysts expect that MillerKnoll will post 1.83 EPS for the current year.

MillerKnoll Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 15th. Stockholders of record on Saturday, May 30th will be given a $0.1875 dividend. The ex-dividend date of this dividend is Friday, May 29th. This represents a $0.75 annualized dividend and a dividend yield of 4.7%. MillerKnoll's dividend payout ratio is presently 535.71%.

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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