California Public Employees Retirement System Cuts Stock Holdings in Skyline Champion Co. (NYSE:SKY)

California Public Employees Retirement System decreased its stake in shares of Skyline Champion Co. (NYSE:SKY) by 5.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 106,321 shares of the company’s stock after selling 6,352 shares during the period. California Public Employees Retirement System’s holdings in Skyline Champion were worth $7,895,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of SKY. Commonwealth Equity Services LLC boosted its position in shares of Skyline Champion by 11.7% during the third quarter. Commonwealth Equity Services LLC now owns 3,931 shares of the company’s stock valued at $250,000 after buying an additional 413 shares during the last quarter. GW Henssler & Associates Ltd. bought a new stake in Skyline Champion during the third quarter worth $202,000. Verdence Capital Advisors LLC bought a new stake in Skyline Champion during the third quarter worth $205,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in Skyline Champion by 20.1% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 12,051 shares of the company’s stock worth $768,000 after acquiring an additional 2,015 shares during the period. Finally, Punch & Associates Investment Management Inc. bought a new stake in Skyline Champion during the third quarter worth $6,373,000.

Skyline Champion Stock Performance

Shares of SKY opened at $78.93 on Friday. The firm has a market cap of $4.56 billion, a PE ratio of 22.85 and a beta of 1.54. The stock’s fifty day moving average price is $80.56 and its two-hundred day moving average price is $71.96. The company has a debt-to-equity ratio of 0.02, a current ratio of 2.56 and a quick ratio of 1.71. Skyline Champion Co. has a 1 year low of $52.12 and a 1 year high of $86.71.

Skyline Champion (NYSE:SKY) last issued its earnings results on Monday, February 5th. The company reported $0.82 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.70 by $0.12. The firm had revenue of $559.46 million for the quarter, compared to analyst estimates of $505.20 million. Skyline Champion had a return on equity of 15.45% and a net margin of 10.19%. On average, equities research analysts forecast that Skyline Champion Co. will post 3.19 EPS for the current year.

Analysts Set New Price Targets

SKY has been the topic of a number of recent analyst reports. Royal Bank of Canada lifted their price target on Skyline Champion from $69.00 to $73.00 and gave the stock a “sector perform” rating in a report on Wednesday, February 7th. Wedbush reiterated a “neutral” rating and set a $72.00 price target on shares of Skyline Champion in a report on Tuesday, February 6th. Five equities research 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 has a consensus rating of “Hold” and an average target price of $71.40.

Skyline Champion 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.