Thrivent Financial for Lutherans Sells 4,633 Shares of MillerKnoll, Inc. (NASDAQ:MLKN)

Thrivent Financial for Lutherans trimmed its position in MillerKnoll, Inc. (NASDAQ:MLKN) by 7.8% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 54,838 shares of the company’s stock after selling 4,633 shares during the period. Thrivent Financial for Lutherans’ holdings in MillerKnoll were worth $1,358,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in MLKN. EverSource Wealth Advisors LLC raised its holdings in MillerKnoll by 254.3% during the second quarter. EverSource Wealth Advisors LLC now owns 1,201 shares of the company’s stock worth $32,000 after buying an additional 862 shares during the last quarter. Mather Group LLC. bought a new stake in shares of MillerKnoll during the second quarter worth about $30,000. GAMMA Investing LLC raised its holdings in shares of MillerKnoll by 35.0% in the 3rd quarter. GAMMA Investing LLC now owns 1,642 shares of the company’s stock worth $41,000 after acquiring an additional 426 shares during the last quarter. Opal Wealth Advisors LLC bought a new position in MillerKnoll in the 2nd quarter valued at about $85,000. Finally, Innealta Capital LLC bought a new position in MillerKnoll in the 2nd quarter valued at about $87,000. 87.50% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Separately, StockNews.com downgraded MillerKnoll from a “buy” rating to a “hold” rating in a research note on Thursday, October 10th.

MillerKnoll Trading Down 0.5 %

Shares of MillerKnoll stock opened at $25.14 on Friday. The company has a current ratio of 1.59, a quick ratio of 0.93 and a debt-to-equity ratio of 0.99. The stock has a fifty day simple moving average of $24.23 and a 200 day simple moving average of $26.37. MillerKnoll, Inc. has a 12-month low of $22.35 and a 12-month high of $31.73. The company has a market capitalization of $1.74 billion, a P/E ratio of 28.90, a price-to-earnings-growth ratio of 0.98 and a beta of 1.18.

MillerKnoll (NASDAQ:MLKN) last posted its earnings results on Thursday, September 19th. The company reported $0.36 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.40 by ($0.04). MillerKnoll had a return on equity of 10.93% and a net margin of 1.80%. The firm had revenue of $861.50 million during the quarter, compared to the consensus estimate of $889.38 million. During the same quarter in the previous year, the company earned $0.37 EPS. The business’s revenue was down 6.1% compared to the same quarter last year. On average, sell-side analysts anticipate that MillerKnoll, Inc. will post 2.17 earnings per share for the current fiscal year.

MillerKnoll Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Saturday, November 30th will be given a dividend of $0.1875 per share. The ex-dividend date of this dividend is Friday, November 29th. This represents a $0.75 annualized dividend and a dividend yield of 2.98%. MillerKnoll’s dividend payout ratio is currently 86.21%.

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.