Capital World Investors Grows Stake in Skyline Champion Co. (NYSE:SKY)

Capital World Investors lifted its position in Skyline Champion Co. (NYSE:SKY - Free Report) by 31.5% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,638,862 shares of the company's stock after purchasing an additional 632,718 shares during the quarter. Capital World Investors owned 4.61% of Skyline Champion worth $232,484,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. Vanguard Group Inc. grew its position in shares of Skyline Champion by 17.3% in the 4th quarter. Vanguard Group Inc. now owns 5,942,992 shares of the company's stock worth $523,578,000 after buying an additional 876,712 shares during the last quarter. Norges Bank bought a new stake in shares of Skyline Champion during the 4th quarter valued at about $69,346,000. Principal Financial Group Inc. raised its stake in Skyline Champion by 5,843.2% in the fourth quarter. Principal Financial Group Inc. now owns 256,924 shares of the company's stock worth $22,635,000 after buying an additional 252,601 shares in the last quarter. Bank of New York Mellon Corp boosted its position in Skyline Champion by 80.7% during the 4th quarter. Bank of New York Mellon Corp now owns 351,060 shares of the company's stock valued at $30,928,000 after acquiring an additional 156,757 shares in the last quarter. Finally, JPMorgan Chase & Co. raised its position in shares of Skyline Champion by 120.3% in the 4th quarter. JPMorgan Chase & Co. now owns 280,396 shares of the company's stock worth $24,703,000 after acquiring an additional 153,089 shares in the last quarter.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on SKY. Royal Bank of Canada increased their price objective on Skyline Champion from $88.00 to $96.00 and gave the stock a "sector perform" rating in a report on Thursday, February 6th. Barclays cut their price target on Skyline Champion from $106.00 to $97.00 and set an "equal weight" rating on the stock in a research note on Tuesday, April 8th. Five analysts have rated the stock with a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $88.40.

Skyline Champion Stock Performance

Shares of SKY stock traded down $0.78 during trading hours on Friday, reaching $84.73. The company had a trading volume of 260,684 shares, compared to its average volume of 531,586. The firm has a market cap of $4.85 billion, a PE ratio of 29.83 and a beta of 1.41. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.74 and a current ratio of 2.59. The business has a fifty day moving average price of $92.34 and a 200-day moving average price of $94.65. Skyline Champion Co. has a one year low of $64.82 and a one year high of $116.49.

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

Insider Buying and Selling at Skyline Champion

In other Skyline Champion news, VP Timothy A. Burkhardt sold 3,823 shares of the stock in a transaction that occurred on 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. This trade represents a 10.47 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Joseph A. Kimmell sold 4,335 shares of Skyline Champion stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $104.21, for a total value of $451,750.35. Following the completion of the sale, 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 disclosure for this sale can be found here. Insiders own 6.90% of the company's stock.

Skyline Champion Company Profile

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.