Principal Financial Group Inc. Decreases Stock Position in Skyline Champion Co. (NYSE:SKY)

Principal Financial Group Inc. lowered its position in shares of Skyline Champion Co. (NYSE:SKY) by 77.2% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,323 shares of the company’s stock after selling 14,649 shares during the period. Principal Financial Group Inc.’s holdings in Skyline Champion were worth $410,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in SKY. Olympiad Research LP acquired a new stake in Skyline Champion during the 3rd quarter valued at $348,000. Cannon Global Investment Management LLC grew its stake in shares of Skyline Champion by 25.0% during the third quarter. Cannon Global Investment Management LLC now owns 4,000 shares of the company’s stock valued at $379,000 after acquiring an additional 800 shares in the last quarter. Van ECK Associates Corp increased its position in shares of Skyline Champion by 40.0% during the third quarter. Van ECK Associates Corp now owns 32,924 shares of the company’s stock worth $2,968,000 after acquiring an additional 9,408 shares during the last quarter. Harbor Capital Advisors Inc. lifted its stake in shares of Skyline Champion by 298.1% in the third quarter. Harbor Capital Advisors Inc. now owns 94,373 shares of the company’s stock worth $8,951,000 after acquiring an additional 70,666 shares in the last quarter. Finally, Rice Hall James & Associates LLC boosted its holdings in Skyline Champion by 88.7% in the third quarter. Rice Hall James & Associates LLC now owns 55,431 shares of the company’s stock valued at $5,258,000 after purchasing an additional 26,057 shares during the last quarter.

Analysts Set New Price Targets

A number of research analysts have commented on the stock. Wedbush reiterated a “neutral” rating and set a $64.00 price objective on shares of Skyline Champion in a research note on Wednesday, August 7th. Royal Bank of Canada lifted their price target on Skyline Champion from $82.00 to $88.00 and gave the stock a “sector perform” rating in a research note on Wednesday, October 30th. StockNews.com raised Skyline Champion from a “sell” rating to a “hold” rating in a report on Thursday, August 8th. Barclays boosted their price target on Skyline Champion from $85.00 to $90.00 and gave the company an “equal weight” rating in a report on Thursday, October 31st. Finally, Jefferies Financial Group upped their price target on Skyline Champion from $79.00 to $86.00 and gave the company a “hold” rating in a research report on Wednesday, October 9th. Five equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $85.40.

Insiders Place Their Bets

In other Skyline Champion news, Director Mak Capital One Llc sold 40,000 shares of the stock in a transaction on Friday, September 6th. The stock was sold at an average price of $88.87, for a total value of $3,554,800.00. Following the transaction, the director now directly owns 2,716,500 shares in the company, valued at approximately $241,415,355. This trade represents a 1.45 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 6.90% of the company’s stock.

Skyline Champion Stock Performance

Shares of SKY stock opened at $102.10 on Monday. Skyline Champion Co. has a fifty-two week low of $58.85 and a fifty-two week high of $102.42. The stock’s 50-day moving average is $94.27 and its two-hundred day moving average is $83.72. The company has a debt-to-equity ratio of 0.02, a current ratio of 2.42 and a quick ratio of 1.64. The firm has a market cap of $5.86 billion, a P/E ratio of 39.42 and a beta of 1.59.

Skyline Champion (NYSE:SKY) last issued its quarterly earnings data on Monday, October 28th. The company reported $0.93 earnings per share for the quarter, topping analysts’ consensus estimates of $0.61 by $0.32. Skyline Champion had a net margin of 6.42% and a return on equity of 13.20%. The business had revenue of $616.88 million during the quarter, compared to analysts’ expectations of $600.52 million. During the same period in the previous year, the company earned $0.82 earnings per share. Skyline Champion’s revenue for the quarter was up 32.9% on a year-over-year basis. Analysts predict that Skyline Champion Co. will post 3.43 earnings per share for the current fiscal year.

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.