MillerKnoll (NASDAQ:MLKN – Get Free Report) issued an update on its fourth quarter earnings guidance on Wednesday morning. The company provided earnings per share guidance of $0.49-0.57 for the period, compared to the consensus earnings per share 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.
Analyst Ratings Changes
Separately, StockNews.com upgraded shares of MillerKnoll from a buy rating to a strong-buy rating in a report on Tuesday, March 19th.
View Our Latest Stock Analysis on MLKN
MillerKnoll Trading Up 1.8 %
MillerKnoll Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Monday, April 15th. Shareholders of record on Saturday, March 2nd will be paid a $0.1875 dividend. This represents a $0.75 annualized dividend and a dividend yield of 2.46%. The ex-dividend date is Thursday, February 29th. MillerKnoll’s dividend payout ratio is 110.30%.
Institutional Trading of MillerKnoll
Institutional investors and hedge funds have recently bought and sold shares of the stock. Wells Fargo & Company MN raised its position in shares of MillerKnoll by 39.5% in the fourth quarter. Wells Fargo & Company MN now owns 5,817 shares of the company’s stock valued at $122,000 after buying an additional 1,647 shares in the last quarter. PNC Financial Services Group Inc. bought a new position in MillerKnoll in the 1st quarter valued at about $103,000. Advisor Group Holdings Inc. raised its holdings in shares of MillerKnoll by 23.2% during the 4th quarter. Advisor Group Holdings Inc. now owns 3,588 shares of the company’s stock worth $75,000 after buying an additional 675 shares in the last quarter. Lazard Asset Management LLC acquired a new position in MillerKnoll during the 4th quarter worth approximately $69,000. Finally, Point72 Hong Kong Ltd bought a new position in shares of MillerKnoll in the 1st quarter valued at $58,000. Institutional investors own 87.50% of the company’s stock.
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.
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