ZEELAND, Mich. – Contract furniture giant MillerKnoll reported third quarter sales of $984.7 million, a decline of 4.4% over last year and a nearly 8% dip from last quarter.
Orders in the quarter hit $885.4 million, down 19.2% over same period last year. Consolidated operating expenses for the quarter were $314.4 million, compared with $310.3 million in the prior year.
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ZEELAND — MillerKnoll is teaming up with customer data platform Amperity to boost its data strategy.
The Zeeland-based office furniture manufacturer has selected Amperity to help maximize its omnichannel data and reach more customers through personalized experiences.
Amperity offers a unified view for companies to understand data across all touchpoints. The platform has been used by brands such as Kroger, Planet Fitness, Under Armour, Lucky Brand, Alaska Airlines and Wyndham Hotels & Resorts.
The most recent document filed with the SEC indicates that Petrus Trust Company LTA completed the acquisition of MillerKnoll, INC (NASDAQ: MLKN) during the third quarter of this year.
The institutional investor spent nearly $188,000 to purchase 12,035 shares of the company’s stock, bringing the total amount spent to approximately $188,000.
ST. PETERSBURG, Fla., Feb. 23, 2023 /PRNewswire/ — Today 3D Cloud™ by Marxent, the 3D experience platform for furniture and home improvement, announced the appointment of Lorna Jean Marcuzzo of MillerKnoll and Gail Applin, formerly of La-Z-Boy, to the 3D Cloud by Marxent Advisory Board. The Advisory Board is comprised of industry veterans from across home improvement, contract furniture, home furnishings, and adjacent industries.
Marcuzzo, currently Senior Digital Product Manager for 3D Visualization at MillerKnoll, brings over a decade of experience in the contract furniture space with a focus on innovation. Similarly, Applin served as Director of eCommerce and Interactive Customer Experience at La-Z-Boy for nearly a decade and is presently Director of E-Commerce Strategy and Operations for Smith & Noble.
MillerKnoll leadership said it hopes 2023 will be the year the combined entity gets to embrace its market potential.
It’s been nearly two years since Herman Miller announced its acquisition of Knoll, seeking to amplify the combined business as a leader in modern design. The companies at the time said they hoped to catalyze the transformation of the home and office sector at a time of unprecedented disruption.
Retirement Systems of Alabama lessened its holdings in shares of MillerKnoll, Inc. (NASDAQ:MLKN) by 0.6% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 99,293 shares of the company’s stock after selling 552 shares during the quarter. Retirement Systems of Alabama owned 0.13% of MillerKnoll worth $1,549,000 at the end of the most recent quarter.
Ceredex Value Advisors LLC reduced its position in MillerKnoll, Inc. (NASDAQ:MLKN) by 2.5% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 377,900 shares of the company’s stock after selling 9,567 shares during the quarter. Ceredex Value Advisors LLC owned about 0.50% of MillerKnoll worth $5,967,000 as of its most recent filing with the Securities and Exchange Commission.
Duality Advisers LP bought a new position in shares of MillerKnoll, Inc. (NASDAQ:MLKN) in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 46,284 shares of the company’s stock, valued at approximately $722,000. Duality Advisers LP owned about 0.06% of MillerKnoll as of its most recent SEC filing.
Stocks of MillerKnoll Inc. (NASDAQ:MLKN) traded higher last session on Wall Street, down -2.88% to $21.94.
According to the data, MillerKnoll Inc. (NASDAQ:MLKN) has 3 analysts covering its stock. The consensus rating among analysts is ‘Overweight’. As we calculate the median target price by taking the range between a high of $40.00 and a low of $20.00, we find $25.00. Given the previous closing price of $22.59, this indicates a potential upside of 10.67 percent. MLKN stock price is now 3.54% away from the 50-day moving average and -14.67% away from the 200-day moving average. The market capitalization of the company currently stands at $1.68B.
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