Victory Capital Management Inc. Sells 5,838 Shares of MillerKnoll, Inc. (NASDAQ:MLKN)

Victory Capital Management Inc. cut its stake in MillerKnoll, Inc. (NASDAQ:MLKN) by 2.4% in the third quarter, HoldingsChannel reports. The fund owned 235,020 shares of the company’s stock after selling 5,838 shares during the period. Victory Capital Management Inc.’s holdings in MillerKnoll were worth $5,819,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Mather Group LLC. bought a new stake in shares of MillerKnoll during the second quarter worth approximately $30,000. EverSource Wealth Advisors LLC raised its stake in shares of 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. GAMMA Investing LLC raised its stake in shares of MillerKnoll by 35.0% during the third quarter. GAMMA Investing LLC now owns 1,642 shares of the company’s stock worth $41,000 after buying an additional 426 shares during the last quarter. EntryPoint Capital LLC raised its stake in shares of MillerKnoll by 566.9% during the first quarter. EntryPoint Capital LLC now owns 2,661 shares of the company’s stock worth $66,000 after buying an additional 2,262 shares during the last quarter. Finally, Opal Wealth Advisors LLC bought a new stake in shares of MillerKnoll during the second quarter worth approximately $85,000. 87.50% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

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

MillerKnoll Stock Up 3.4 %

Shares of NASDAQ MLKN opened at $24.53 on Friday. The stock has a market cap of $1.70 billion, a P/E ratio of 27.28, a P/E/G ratio of 0.90 and a beta of 1.18. The firm has a 50 day moving average price of $24.40 and a 200 day moving average price of $26.45. 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, Inc. has a 52-week low of $22.35 and a 52-week high of $31.73.

MillerKnoll (NASDAQ:MLKN) last issued its quarterly earnings data on Thursday, September 19th. The company reported $0.36 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.04). The firm had revenue of $861.50 million for the quarter, compared to analyst estimates of $889.38 million. MillerKnoll had a net margin of 1.80% and a return on equity of 10.93%. The firm’s revenue for the quarter was down 6.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.37 EPS. Analysts expect that MillerKnoll, Inc. will post 2.17 EPS for the current year.

MillerKnoll Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Saturday, November 30th will be issued a $0.1875 dividend. This represents a $0.75 annualized dividend and a dividend yield of 3.06%. The ex-dividend date is Friday, November 29th. MillerKnoll’s dividend payout ratio (DPR) is presently 86.21%.

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.