MillerKnoll (NASDAQ:MLKN) Upgraded at StockNews.com

StockNews.com upgraded shares of MillerKnoll (NASDAQ:MLKN) from a hold rating to a buy rating in a report released on Friday morning.

MillerKnoll Stock Down 2.7 %

Shares of NASDAQ:MLKN opened at $22.39 on Friday. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.93 and a current ratio of 1.59. MillerKnoll has a 52-week low of $20.89 and a 52-week high of $31.73. The business’s 50 day simple moving average is $24.39 and its two-hundred day simple moving average is $26.11. The firm has a market cap of $1.55 billion, a P/E ratio of 25.74, a PEG ratio of 0.96 and a beta of 1.20.

MillerKnoll (NASDAQ:MLKN) last released its quarterly earnings results on Wednesday, December 18th. The company reported $0.55 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.54 by $0.01. The business had revenue of $970.40 million during the quarter, compared to the consensus estimate of $959.60 million. MillerKnoll had a return on equity of 10.93% and a net margin of 1.80%. The company’s quarterly revenue was up 2.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.59 EPS. As a group, research analysts forecast that MillerKnoll will post 2.17 EPS for the current fiscal year.

MillerKnoll Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Saturday, November 30th will be given a dividend of $0.1875 per share. This represents a $0.75 dividend on an annualized basis and a dividend yield of 3.35%. The ex-dividend date is Friday, November 29th. MillerKnoll’s payout ratio is currently 82.42%.

Hedge Funds Weigh In On MillerKnoll

Hedge funds have recently modified their holdings of the company. EverSource Wealth Advisors LLC grew its holdings in shares of MillerKnoll by 254.3% in the second quarter. EverSource Wealth Advisors LLC now owns 1,201 shares of the company’s stock valued at $32,000 after acquiring an additional 862 shares in the last quarter. GAMMA Investing LLC grew its stake in MillerKnoll by 35.0% in the 3rd quarter. GAMMA Investing LLC now owns 1,642 shares of the company’s stock valued at $41,000 after purchasing an additional 426 shares during the period. Innealta Capital LLC purchased a new stake in shares of MillerKnoll during the 2nd quarter valued at $87,000. Meeder Asset Management Inc. purchased a new stake in shares of MillerKnoll during the 3rd quarter valued at $84,000. Finally, DekaBank Deutsche Girozentrale boosted its holdings in shares of MillerKnoll by 99.7% in the 3rd quarter. DekaBank Deutsche Girozentrale now owns 4,640 shares of the company’s stock worth $112,000 after buying an additional 2,316 shares during the last quarter. Institutional investors own 87.50% of the company’s stock.

About MillerKnoll

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.