Bank of New York Mellon Corp Raises Position in Skyline Champion Co. (NYSE:SKY)

Bank of New York Mellon Corp raised its stake in Skyline Champion Co. (NYSE:SKY - Free Report) by 80.7% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 351,060 shares of the company's stock after purchasing an additional 156,757 shares during the period. Bank of New York Mellon Corp owned about 0.61% of Skyline Champion worth $30,928,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also made changes to their positions in the company. FMR LLC increased its stake in shares of Skyline Champion by 32.3% during the third quarter. FMR LLC now owns 1,491,907 shares of the company's stock worth $141,507,000 after buying an additional 363,885 shares during the period. Principal Financial Group Inc. increased its position in shares of Skyline Champion by 5,843.2% in the 4th quarter. Principal Financial Group Inc. now owns 256,924 shares of the company's stock valued at $22,635,000 after purchasing an additional 252,601 shares during the last quarter. Cerity Partners LLC raised its holdings in shares of Skyline Champion by 118.8% in the 3rd quarter. Cerity Partners LLC now owns 188,767 shares of the company's stock valued at $17,905,000 after purchasing an additional 102,506 shares in the last quarter. State Street Corp lifted its position in shares of Skyline Champion by 4.6% during the 3rd quarter. State Street Corp now owns 1,790,962 shares of the company's stock worth $169,873,000 after purchasing an additional 78,733 shares during the last quarter. Finally, Summit Partners Public Asset Management LLC grew its stake in shares of Skyline Champion by 23.3% during the third quarter. Summit Partners Public Asset Management LLC now owns 404,673 shares of the company's stock worth $38,383,000 after purchasing an additional 76,573 shares in the last quarter.

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Insider Activity

In other Skyline Champion news, EVP Joseph A. Kimmell sold 4,335 shares of the firm's stock in a transaction on Monday, February 10th. The shares were sold at an average price of $104.21, for a total transaction of $451,750.35. Following the transaction, the executive vice president now directly owns 39,411 shares of the company's stock, valued at approximately $4,107,020.31. This trade represents a 9.91 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, VP Timothy A. Burkhardt sold 3,823 shares of the company's stock in a transaction dated Tuesday, February 11th. The shares were sold at an average price of $106.87, for a total transaction of $408,564.01. Following the completion of the sale, the vice president now directly owns 32,706 shares of the company's stock, valued at $3,495,290.22. The trade was a 10.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 6.90% of the company's stock.

Skyline Champion Stock Performance

Shares of SKY stock traded down $0.39 during mid-day trading on Wednesday, hitting $93.83. 197,637 shares of the stock were exchanged, compared to its average volume of 615,015. The stock's fifty day simple moving average is $96.05 and its two-hundred day simple moving average is $95.59. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.74 and a current ratio of 2.59. Skyline Champion Co. has a 12-month low of $64.82 and a 12-month high of $116.49. The stock has a market capitalization of $5.37 billion, a price-to-earnings ratio of 33.04 and a beta of 1.61.

Skyline Champion (NYSE:SKY - Get Free Report) last released its quarterly earnings results on Tuesday, February 4th. The company reported $1.04 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.80 by $0.24. Skyline Champion had a return on equity of 13.80% and a net margin of 6.80%. On average, analysts forecast that Skyline Champion Co. will post 3.63 EPS for the current year.

Wall Street Analysts Forecast Growth

SKY has been the topic of a number of analyst reports. Barclays raised their price target on Skyline Champion from $90.00 to $106.00 and gave the company an "equal weight" rating in a research note on Thursday, February 6th. Royal Bank of Canada raised their target price on Skyline Champion from $88.00 to $96.00 and gave the stock a "sector perform" rating in a research report on Thursday, February 6th. Five analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $90.20.

About Skyline Champion

Skyline Champion Corporation produces and sells factory-built housing in North America. The company offers manufactured and modular homes, park models RVs, accessory dwelling units, and modular buildings for the multi-family and hospitality sectors. It builds homes under the Skyline Homes, Champion Home Builders, Genesis Homes, Athens Park Models, Dutch Housing, Atlantic Homes, Excel Homes, Homes of Merit, New Era, Redman Homes, ScotBilt Homes, Shore Park, Silvercrest, and Titan Homes brands in the United States; and Moduline and SRI Homes brand names in western Canada.