Pacer Advisors Inc. Decreases Stock Holdings in MillerKnoll, Inc. (NASDAQ:MLKN)

Pacer Advisors Inc. cut its holdings in MillerKnoll, Inc. (NASDAQ:MLKN) by 11.2% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,567,013 shares of the company’s stock after selling 448,449 shares during the period. Pacer Advisors Inc. owned about 5.16% of MillerKnoll worth $88,319,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. boosted its holdings in shares of MillerKnoll by 2.6% in the 1st quarter. Vanguard Group Inc. now owns 8,987,024 shares of the company’s stock valued at $222,519,000 after buying an additional 226,792 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in MillerKnoll by 12.5% in the second quarter. Dimensional Fund Advisors LP now owns 3,392,354 shares of the company’s stock valued at $89,864,000 after acquiring an additional 377,121 shares in the last quarter. Hennessy Advisors Inc. boosted its stake in MillerKnoll by 18.1% in the second quarter. Hennessy Advisors Inc. now owns 1,178,800 shares of the company’s stock valued at $31,226,000 after acquiring an additional 180,500 shares in the last quarter. Empowered Funds LLC increased its position in shares of MillerKnoll by 5.3% during the third quarter. Empowered Funds LLC now owns 359,144 shares of the company’s stock worth $8,892,000 after purchasing an additional 18,224 shares in the last quarter. Finally, Principal Financial Group Inc. boosted its position in shares of MillerKnoll by 1.5% in the 3rd quarter. Principal Financial Group Inc. now owns 358,529 shares of the company’s stock valued at $8,877,000 after purchasing an additional 5,155 shares during the period. 87.50% of the stock is currently owned by institutional investors and hedge funds.

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 Performance

MLKN opened at $23.73 on Friday. The stock has a market cap of $1.64 billion, a P/E ratio of 27.28, a P/E/G ratio of 0.90 and a beta of 1.18. MillerKnoll, Inc. has a 1-year low of $22.35 and a 1-year high of $31.73. The stock’s 50 day simple moving average is $24.45 and its 200 day simple moving average is $26.47. The company has a debt-to-equity ratio of 0.99, a current ratio of 1.59 and a quick ratio of 0.93.

MillerKnoll (NASDAQ:MLKN) last announced its earnings results 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 return on equity of 10.93% and a net margin of 1.80%. The firm’s revenue was down 6.1% compared to the same quarter last year. During the same quarter last year, the business posted $0.37 EPS. As a group, equities analysts anticipate that MillerKnoll, Inc. will post 2.17 EPS for the current fiscal year.

MillerKnoll Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Saturday, November 30th will be issued a $0.1875 dividend. The ex-dividend date of this dividend is Friday, November 29th. This represents a $0.75 annualized dividend and a yield of 3.16%. MillerKnoll’s payout ratio is 86.21%.

MillerKnoll Company 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.