Scharf Investments LLC Trims Stock Position in MillerKnoll, Inc. (NASDAQ:MLKN)

Scharf Investments LLC trimmed its holdings in shares of MillerKnoll, Inc. (NASDAQ:MLKN) by 38.6% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 848,593 shares of the company’s stock after selling 533,711 shares during the quarter. MillerKnoll accounts for approximately 0.6% of Scharf Investments LLC’s portfolio, making the stock its 28th biggest holding. Scharf Investments LLC’s holdings in MillerKnoll were worth $19,170,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in MLKN. GAMMA Investing LLC boosted its stake in shares of MillerKnoll by 35.0% during the 3rd quarter. GAMMA Investing LLC now owns 1,642 shares of the company’s stock worth $41,000 after acquiring an additional 426 shares during the last quarter. Bank of Montreal Can lifted its position in MillerKnoll by 6.0% during the second quarter. Bank of Montreal Can now owns 13,551 shares of the company’s stock valued at $359,000 after purchasing an additional 768 shares in the last quarter. Hsbc Holdings PLC grew its holdings in MillerKnoll by 10.3% during the second quarter. Hsbc Holdings PLC now owns 9,761 shares of the company’s stock valued at $256,000 after purchasing an additional 908 shares during the period. KBC Group NV increased its position in MillerKnoll by 62.9% in the fourth quarter. KBC Group NV now owns 3,319 shares of the company’s stock worth $75,000 after buying an additional 1,281 shares in the last quarter. Finally, Avior Wealth Management LLC raised its stake in shares of 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 buying an additional 1,448 shares during the period. 87.50% of the stock is owned by hedge funds and other institutional investors.

MillerKnoll Price Performance

Shares of MillerKnoll stock opened at $22.44 on Friday. The stock’s 50-day simple moving average is $23.31 and its 200-day simple moving average is $25.31. The company has a quick ratio of 0.99, a current ratio of 1.60 and a debt-to-equity ratio of 1.02. MillerKnoll, Inc. has a 52 week low of $20.89 and a 52 week high of $31.73. The company has a market capitalization of $1.53 billion, a price-to-earnings ratio of 24.66, a PEG ratio of 0.88 and a beta of 1.23.

MillerKnoll (NASDAQ:MLKN) last announced 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. MillerKnoll had a net margin of 1.81% and a return on equity of 10.74%. The company had revenue of $970.40 million for the quarter, compared to the consensus estimate of $959.60 million. During the same period in the previous year, the firm posted $0.59 EPS. MillerKnoll’s revenue for the quarter was up 2.2% compared to the same quarter last year. As a group, analysts expect that MillerKnoll, Inc. will post 2.12 earnings per share for the current fiscal year.

MillerKnoll Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Saturday, March 1st will be paid a dividend of $0.1875 per share. This represents a $0.75 dividend on an annualized basis and a yield of 3.34%. The ex-dividend date of this dividend is Friday, February 28th. MillerKnoll’s payout ratio is presently 82.42%.

Wall Street Analyst Weigh In

Separately, StockNews.com raised shares of MillerKnoll from a “hold” rating to a “buy” rating in a report on Wednesday, January 15th.

MillerKnoll Profile

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.