MillerKnoll (NASDAQ:MLKN) Issues Q4 Earnings Guidance

MillerKnoll (NASDAQ:MLKN) issued an update on its fourth quarter earnings guidance on Wednesday morning. The company provided EPS guidance of $0.49-0.57 for the period, compared to the consensus EPS estimate of $0.68. The company issued revenue guidance of $880-920 million, compared to the consensus revenue estimate of $961.48 million. MillerKnoll also updated its FY 2024 guidance to 1.900-1.980 EPS.

MillerKnoll Price Performance

MLKN opened at $30.53 on Thursday. The firm has a market cap of $2.22 billion, a price-to-earnings ratio of 44.90, a PEG ratio of 1.21 and a beta of 1.31. The company has a debt-to-equity ratio of 0.90, a current ratio of 1.56 and a quick ratio of 0.93. The stock’s 50 day simple moving average is $28.76 and its 200 day simple moving average is $26.10. MillerKnoll has a 1 year low of $13.20 and a 1 year high of $31.33.

MillerKnoll Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, April 15th. Stockholders of record on Saturday, March 2nd will be paid a $0.1875 dividend. The ex-dividend date of this dividend is Thursday, February 29th. This represents a $0.75 annualized dividend and a dividend yield of 2.46%. MillerKnoll’s dividend payout ratio is presently 110.30%.

Analysts Set New Price Targets

Separately, StockNews.com raised MillerKnoll from a buy rating to a strong-buy rating in a research report on Tuesday, March 19th.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the business. Price T Rowe Associates Inc. MD raised its stake in shares of MillerKnoll by 4.2% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 58,106 shares of the company’s stock valued at $1,551,000 after acquiring an additional 2,350 shares in the last quarter. Mercer Global Advisors Inc. ADV boosted its holdings in shares of MillerKnoll by 40.2% in the 4th quarter. Mercer Global Advisors Inc. ADV now owns 15,852 shares of the company’s stock valued at $423,000 after buying an additional 4,547 shares in the last quarter. Barclays PLC lifted its position in MillerKnoll by 149.7% during the fourth quarter. Barclays PLC now owns 124,762 shares of the company’s stock valued at $3,329,000 after acquiring an additional 74,802 shares during the last quarter. Nuveen Asset Management LLC grew its holdings in MillerKnoll by 162.0% in the fourth quarter. Nuveen Asset Management LLC now owns 868,486 shares of the company’s stock worth $23,172,000 after purchasing an additional 536,956 shares during the last quarter. Finally, Public Sector Pension Investment Board lifted its holdings in shares of MillerKnoll by 63.0% during the 4th quarter. Public Sector Pension Investment Board now owns 152,488 shares of the company’s stock valued at $4,068,000 after purchasing an additional 58,923 shares during the last quarter. 87.50% of the stock is owned by hedge funds and other institutional investors.

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.