Wells Fargo & Company MN Increases Position in Skyline Champion Co. (NYSE:SKY)

Wells Fargo & Company MN raised its stake in Skyline Champion Co. (NYSE:SKY) by 6.1% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 128,570 shares of the company’s stock after buying an additional 7,415 shares during the period. Wells Fargo & Company MN owned about 0.22% of Skyline Champion worth $11,327,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. boosted its position in Skyline Champion by 17.3% during the fourth quarter. Vanguard Group Inc. now owns 5,942,992 shares of the company’s stock valued at $523,578,000 after purchasing an additional 876,712 shares in the last quarter. American Century Companies Inc. grew its position in Skyline Champion by 2.9% during the 4th quarter. American Century Companies Inc. now owns 1,411,769 shares of the company’s stock worth $124,377,000 after purchasing an additional 39,262 shares during the period. Alliancebernstein L.P. lifted its holdings in Skyline Champion by 4.3% in the fourth quarter. Alliancebernstein L.P. now owns 1,027,194 shares of the company’s stock valued at $90,496,000 after acquiring an additional 41,916 shares during the period. Norges Bank purchased a new stake in Skyline Champion during the fourth quarter worth $69,346,000. Finally, Charles Schwab Investment Management Inc. boosted its position in Skyline Champion by 6.6% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 682,259 shares of the company’s stock worth $60,107,000 after purchasing an additional 42,278 shares in the last quarter.

Insider Buying and Selling at Skyline Champion

In other Skyline Champion news, EVP Joseph A. Kimmell sold 4,335 shares of the stock in a transaction on 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 transaction, the executive vice president now owns 39,411 shares in the company, valued at approximately $4,107,020.31. This represents a 9.91 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP Timothy A. Burkhardt sold 3,823 shares of the company’s stock in a transaction dated Tuesday, February 11th. The stock was sold at an average price of $106.87, for a total transaction of $408,564.01. Following the transaction, the vice president now owns 32,706 shares in the company, 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. 6.90% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on SKY shares. Barclays decreased their price target on shares of 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. Royal Bank of Canada lifted their price target on shares of Skyline Champion from $88.00 to $96.00 and gave the company a “sector perform” rating in a research report on Thursday, February 6th. Five investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $88.40.

Skyline Champion Stock Performance

NYSE:SKY opened at $81.70 on Wednesday. The company has a quick ratio of 1.74, a current ratio of 2.59 and a debt-to-equity ratio of 0.02. The company has a market cap of $4.68 billion, a price-to-earnings ratio of 28.77 and a beta of 1.41. The company has a fifty day simple moving average of $95.72 and a two-hundred day simple moving average of $95.26. Skyline Champion Co. has a 52 week low of $64.82 and a 52 week high of $116.49.

Skyline Champion (NYSE:SKY) last posted 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 anticipate that Skyline Champion Co. will post 3.63 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.