MillerKnoll, Inc. (NASDAQ:MLKN) Declares Quarterly Dividend of $0.19

MillerKnoll, Inc. (NASDAQ:MLKN - Get Free Report) announced a quarterly dividend on Wednesday, July 23rd, Wall Street Journal reports. Investors of record on Sunday, August 31st will be paid a dividend of 0.1875 per share on Wednesday, October 15th. This represents a $0.75 annualized dividend and a dividend yield of 3.78%. The ex-dividend date is Friday, August 29th.

MillerKnoll has a payout ratio of 31.1% meaning its dividend is sufficiently covered by earnings. Analysts expect MillerKnoll to earn $2.70 per share next year, which means the company should continue to be able to cover its $0.75 annual dividend with an expected future payout ratio of 27.8%.

MillerKnoll Price Performance

NASDAQ MLKN traded up $0.08 on Friday, hitting $19.84. 95,160 shares of the company's stock were exchanged, compared to its average volume of 555,756. The stock has a 50-day moving average of $18.40 and a 200-day moving average of $19.18. 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 has a 52 week low of $15.25 and a 52 week high of $31.73. The stock has a market cap of $1.35 billion, a price-to-earnings ratio of -35.43, a P/E/G ratio of 0.92 and a beta of 1.20.

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

Analysts Set New Price Targets

MLKN has been the subject of a number of analyst reports. 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.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. Royal Bank of Canada increased its stake in MillerKnoll by 39.4% in the first quarter. Royal Bank of Canada now owns 19,451 shares of the company's stock valued at $373,000 after acquiring an additional 5,495 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of MillerKnoll by 2.0% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 40,480 shares of the company's stock valued at $775,000 after purchasing an additional 801 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in shares of MillerKnoll by 7.1% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 197,932 shares of the company's stock valued at $3,788,000 after purchasing an additional 13,099 shares during the last quarter. Finally, Jane Street Group LLC lifted its holdings in shares of MillerKnoll by 311.8% during the first quarter. Jane Street Group LLC now owns 414,275 shares of the company's stock valued at $7,929,000 after purchasing an additional 313,684 shares during the last quarter. Institutional investors own 87.50% of the company's stock.

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.