MillerKnoll (NASDAQ:MLKN) Hits New 1-Year High - Here's Why

Key Points

• MillerKnoll shares reached a new 52-week high of $23.85, up from the previous close of $22.52, supported by trading well above its 50-day and 200-day moving averages.
• The company exceeded quarterly expectations, reporting $0.55 in EPS versus the $0.52 consensus and $1 billion in revenue, up 4.4% year over year. Analysts currently expect about $2.02 in EPS for the full fiscal year.
• Analyst sentiment remains cautious, with one Buy rating and two Hold ratings, while MillerKnoll declared a quarterly dividend of $0.1875 per share, equivalent to a 3.1% annualized yield.

MillerKnoll, Inc. (NASDAQ:MLKN - Get Free Report)'s share price reached a new 52-week high during mid-day trading on Monday . The stock traded as high as $23.85 and last traded at $23.8730, with a volume of 121109 shares. The stock had previously closed at $22.52.

Wall Street Analysts Forecast Growth

MLKN has been the topic of several research reports. Zacks Research raised MillerKnoll from a "strong sell" rating to a "hold" rating in a report on Tuesday, May 26th. Weiss Ratings raised MillerKnoll from a "sell (d+)" rating to a "hold (c)" rating in a research note on Friday, July 24th. Finally, Wall Street Zen cut MillerKnoll from a "buy" rating to a "hold" rating in a report on Sunday, July 26th. One equities research analyst has rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Hold".

MillerKnoll Price Performance

The company has a debt-to-equity ratio of 0.94, a current ratio of 1.58 and a quick ratio of 0.90. The firm has a market cap of $1.63 billion, a price-to-earnings ratio of 18.13, a price-to-earnings-growth ratio of 0.93 and a beta of 1.35. The stock's fifty day moving average price is $18.67 and its 200-day moving average price is $18.37.

MillerKnoll (NASDAQ:MLKN - Get Free Report) last posted its quarterly earnings data on Wednesday, June 24th. The company reported $0.55 earnings per share for the quarter, topping the consensus estimate of $0.52 by $0.03. The firm had revenue of $1 billion for the quarter, compared to analysts' expectations of $973.87 million. MillerKnoll had a net margin of 2.38% and a return on equity of 9.77%. The company's quarterly revenue was up 4.4% compared to the same quarter last year. During the same period in the previous year, the company posted $0.60 EPS. MillerKnoll has set its FY 2027 guidance at 1.850-2.150 EPS and its Q1 2027 guidance at 0.330-0.390 EPS. Equities research analysts predict that MillerKnoll, Inc. will post 2.02 EPS for the current fiscal year.

MillerKnoll Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 15th. Stockholders of record on Saturday, August 29th will be issued a dividend of $0.1875 per share. The ex-dividend date is Friday, August 28th. This represents a $0.75 dividend on an annualized basis and a dividend yield of 3.1%. MillerKnoll's dividend payout ratio (DPR) is currently 56.82%.

Institutional Investors Weigh In On MillerKnoll

A number of large investors have recently added to or reduced their stakes in the stock. Cassaday & Co Wealth Management LLC bought a new position in shares of MillerKnoll in the first quarter valued at approximately $26,000. Versant Capital Management Inc raised its holdings in MillerKnoll by 166.5% in the 2nd quarter. Versant Capital Management Inc now owns 1,250 shares of the company's stock worth $26,000 after acquiring an additional 781 shares during the period. Osaic Holdings Inc. lifted its position in MillerKnoll by 36.5% during the 2nd quarter. Osaic Holdings Inc. now owns 1,941 shares of the company's stock worth $38,000 after acquiring an additional 519 shares during the last quarter. Lloyd Advisory Services LLC. bought a new stake in MillerKnoll during the fourth quarter valued at about $46,000. Finally, KBC Group NV grew its position in shares of MillerKnoll by 92.1% in the first quarter. KBC Group NV now owns 3,803 shares of the company's stock valued at $55,000 after purchasing an additional 1,823 shares during the last quarter. Institutional investors own 87.50% of the company's stock.

MillerKnoll Company Profile

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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