Skyline Champion Co. (NYSE:SKY) Stake Reduced by California Public Employees Retirement System

California Public Employees Retirement System lessened its stake in shares of Skyline Champion Co. (NYSE:SKY - Free Report) by 6.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 80,443 shares of the company's stock after selling 5,838 shares during the quarter. California Public Employees Retirement System owned 0.14% of Skyline Champion worth $7,087,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. JPMorgan Chase & Co. grew its holdings in Skyline Champion by 137.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 127,307 shares of the company's stock valued at $12,075,000 after purchasing an additional 73,697 shares in the last quarter. Bank of New York Mellon Corp increased its position in shares of Skyline Champion by 80.7% during the fourth quarter. Bank of New York Mellon Corp now owns 351,060 shares of the company's stock worth $30,928,000 after acquiring an additional 156,757 shares during the last quarter. Harbor Capital Advisors Inc. lifted its stake in shares of Skyline Champion by 26.3% in the fourth quarter. Harbor Capital Advisors Inc. now owns 119,154 shares of the company's stock worth $10,497,000 after acquiring an additional 24,781 shares in the last quarter. Van ECK Associates Corp boosted its holdings in Skyline Champion by 21.8% in the fourth quarter. Van ECK Associates Corp now owns 40,108 shares of the company's stock valued at $3,534,000 after purchasing an additional 7,184 shares during the last quarter. Finally, Rhumbline Advisers increased its holdings in Skyline Champion by 85.0% during the 4th quarter. Rhumbline Advisers now owns 151,781 shares of the company's stock worth $13,372,000 after purchasing an additional 69,756 shares during the last quarter.

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Insider Buying and Selling at Skyline Champion

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

Wall Street Analyst Weigh In

SKY has been the subject of a number of recent analyst reports. Barclays decreased their price target on shares of Skyline Champion from $106.00 to $97.00 and set an "equal weight" rating for the company in a research report on Tuesday. Royal Bank of Canada raised their price objective on shares of Skyline Champion from $88.00 to $96.00 and gave the stock a "sector perform" rating in a report on Thursday, February 6th. Five analysts have rated the stock with a hold rating and one has given a buy rating to the company's stock. According to MarketBeat, Skyline Champion presently has an average rating of "Hold" and an average target price of $88.40.

Skyline Champion Stock Performance

Shares of SKY stock traded down $0.94 during trading hours on Friday, reaching $81.83. The stock had a trading volume of 502,643 shares, compared to its average volume of 526,474. The firm has a market capitalization of $4.69 billion, a PE ratio of 28.81 and a beta of 1.41. The firm has a 50-day simple moving average of $96.65 and a 200-day simple moving average of $95.43. Skyline Champion Co. has a twelve month low of $64.82 and a twelve month high of $116.49. The company has a debt-to-equity ratio of 0.02, a current ratio of 2.59 and a quick ratio of 1.74.

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 for the quarter, beating 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%. As a group, equities analysts forecast that Skyline Champion Co. will post 3.63 earnings per share for the current year.

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.