Raymond James Financial Inc. Buys New Position in MillerKnoll, Inc. (NASDAQ:MLKN)

Raymond James Financial Inc. purchased a new position in MillerKnoll, Inc. (NASDAQ:MLKN - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 34,233 shares of the company's stock, valued at approximately $773,000. Raymond James Financial Inc. owned 0.05% of MillerKnoll as of its most recent SEC filing.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Smartleaf Asset Management LLC increased its stake in shares of MillerKnoll by 458.4% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,463 shares of the company's stock worth $33,000 after acquiring an additional 1,201 shares in the last quarter. Avior Wealth Management LLC grew its holdings in MillerKnoll by 228.8% in the fourth quarter. Avior Wealth Management LLC now owns 2,081 shares of the company's stock worth $47,000 after purchasing an additional 1,448 shares during the period. KBC Group NV increased its stake in shares of MillerKnoll by 62.9% during the fourth quarter. KBC Group NV now owns 3,319 shares of the company's stock valued at $75,000 after purchasing an additional 1,281 shares in the last quarter. Verition Fund Management LLC purchased a new position in shares of MillerKnoll during the third quarter valued at approximately $210,000. Finally, Vestcor Inc purchased a new stake in shares of MillerKnoll in the 3rd quarter worth approximately $456,000. Hedge funds and other institutional investors own 87.50% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on MLKN shares. StockNews.com cut MillerKnoll from a "buy" rating to a "hold" rating in a research note on Saturday, March 29th. Sidoti upgraded shares of MillerKnoll to a "hold" rating in a research note on Tuesday, March 25th.

MillerKnoll Stock Down 6.7 %

NASDAQ MLKN traded down $1.18 during mid-day trading on Thursday, reaching $16.55. The stock had a trading volume of 826,356 shares, compared to its average volume of 605,759. The stock has a market cap of $1.12 billion, a PE ratio of 18.19, a price-to-earnings-growth ratio of 0.89 and a beta of 1.05. MillerKnoll, Inc. has a 1 year low of $15.91 and a 1 year high of $31.73. The company has a debt-to-equity ratio of 1.02, a current ratio of 1.60 and a quick ratio of 0.99. The company has a fifty day moving average price of $20.17 and a 200 day moving average price of $22.44.

MillerKnoll (NASDAQ:MLKN - Get Free Report) last posted its earnings results on Wednesday, March 26th. The company reported $0.44 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.44. MillerKnoll had a net margin of 1.81% and a return on equity of 10.74%. The business had revenue of $876.20 million for the quarter, compared to analysts' expectations of $918.88 million. During the same quarter in the prior year, the business earned $0.45 EPS. The business's revenue for the quarter was up .4% compared to the same quarter last year. On average, research analysts expect that MillerKnoll, Inc. will post 2.12 earnings per share for the current year.

MillerKnoll Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Saturday, March 1st will be paid a dividend of $0.1875 per share. The ex-dividend date is Friday, February 28th. This represents a $0.75 dividend on an annualized basis and a yield of 4.53%. MillerKnoll's dividend payout ratio is presently 178.57%.

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.