Maverick Capital Ltd. Purchases New Stake in MillerKnoll, Inc. $MLKN

Maverick Capital Ltd. acquired a new position in shares of MillerKnoll, Inc. (NASDAQ:MLKN) during the first quarter, HoldingsChannel.com reports. The firm acquired 30,710 shares of the company’s stock, valued at approximately $444,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Quantinno Capital Management LP increased its stake in shares of MillerKnoll by 61.3% in the 1st quarter. Quantinno Capital Management LP now owns 55,924 shares of the company’s stock worth $809,000 after acquiring an additional 21,243 shares during the last quarter. Renaissance Technologies LLC acquired a new position in shares of MillerKnoll during the 1st quarter valued at about $2,692,000. Arrowstreet Capital Limited Partnership grew its holdings in shares of MillerKnoll by 41.1% in the first quarter. Arrowstreet Capital Limited Partnership now owns 1,259,388 shares of the company’s stock valued at $18,211,000 after purchasing an additional 366,726 shares during the period. Caxton Associates LLP acquired a new stake in MillerKnoll during the first quarter worth about $206,000. Finally, Sei Investments Co. increased its position in MillerKnoll by 208.6% during the first quarter. Sei Investments Co. now owns 234,431 shares of the company’s stock worth $3,390,000 after purchasing an additional 158,472 shares during the last quarter. Institutional investors and hedge funds own 87.50% of the company’s stock.

MillerKnoll Stock Performance

NASDAQ MLKN opened at $22.91 on Thursday. The stock has a market cap of $1.56 billion, a PE ratio of 17.36, a P/E/G ratio of 0.97 and a beta of 1.36. The company has a current ratio of 1.58, a quick ratio of 0.90 and a debt-to-equity ratio of 0.94. MillerKnoll, Inc. has a twelve month low of $13.77 and a twelve month high of $23.77. The stock has a fifty day simple moving average of $18.39 and a 200-day simple moving average of $18.33.

MillerKnoll (NASDAQ:MLKN) last issued its quarterly earnings data on Wednesday, June 24th. The company reported $0.55 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.52 by $0.03. The firm had revenue of $1 billion during the quarter, compared to the consensus estimate of $973.87 million. MillerKnoll had a return on equity of 9.77% and a net margin of 2.38%.The company’s quarterly revenue was up 4.4% on a year-over-year basis. During the same period last year, the company earned $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 analysts anticipate that MillerKnoll, Inc. will post 2.02 earnings per share for the current year.

MillerKnoll Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 15th. Stockholders of record on Saturday, August 29th will be paid a $0.1875 dividend. This represents a $0.75 dividend on an annualized basis and a dividend yield of 3.3%. The ex-dividend date of this dividend is Friday, August 28th. MillerKnoll’s payout ratio is 56.82%.

Wall Street Analyst Weigh In

A number of brokerages have commented on MLKN. Wall Street Zen downgraded shares of MillerKnoll from a “buy” rating to a “hold” rating in a research note on Sunday. Weiss Ratings raised shares of MillerKnoll from a “sell (d+)” rating to a “hold (c)” rating in a research note on Friday, July 24th. Finally, Zacks Research upgraded shares of MillerKnoll from a “strong sell” rating to a “hold” rating in a report on Tuesday, May 26th. One analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold”.

About MillerKnoll

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.