Skyline Champion Co. (NYSE:SKY) Shares Bought by Principal Financial Group Inc.

Principal Financial Group Inc. boosted its stake in shares of Skyline Champion Co. (NYSE:SKY) by 8.6% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 17,333 shares of the company’s stock after purchasing an additional 1,369 shares during the quarter. Principal Financial Group Inc.’s holdings in Skyline Champion were worth $1,473,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in SKY. Schonfeld Strategic Advisors LLC acquired a new position in Skyline Champion during the 3rd quarter valued at approximately $2,482,000. Ameriprise Financial Inc. boosted its position in Skyline Champion by 0.7% during the 3rd quarter. Ameriprise Financial Inc. now owns 1,058,324 shares of the company’s stock worth $67,432,000 after acquiring an additional 7,855 shares during the period. Sei Investments Co. boosted its position in Skyline Champion by 6.9% during the 3rd quarter. Sei Investments Co. now owns 287,845 shares of the company’s stock worth $18,341,000 after acquiring an additional 18,504 shares during the period. Townsquare Capital LLC boosted its position in Skyline Champion by 83.3% during the 3rd quarter. Townsquare Capital LLC now owns 18,874 shares of the company’s stock worth $1,203,000 after acquiring an additional 8,575 shares during the period. Finally, SkyView Investment Advisors LLC raised its stake in shares of Skyline Champion by 3.3% in the 3rd quarter. SkyView Investment Advisors LLC now owns 5,385 shares of the company’s stock worth $343,000 after buying an additional 171 shares in the last quarter.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on SKY. Wedbush reaffirmed a “neutral” rating and set a $72.00 target price on shares of Skyline Champion in a research report on Wednesday, May 22nd. Royal Bank of Canada cut their target price on Skyline Champion from $73.00 to $68.00 and set a “sector perform” rating on the stock in a research report on Thursday, May 23rd. Barclays cut their target price on Skyline Champion from $76.00 to $68.00 and set an “equal weight” rating on the stock in a research report on Wednesday, May 29th. StockNews.com lowered Skyline Champion from a “hold” rating to a “sell” rating in a research report on Thursday, May 23rd. Finally, Craig Hallum dropped their price target on Skyline Champion from $88.00 to $84.00 and set a “buy” rating on the stock in a research report on Thursday, May 23rd. One analyst has rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $70.80.

Skyline Champion Stock Performance

Shares of NYSE SKY traded down $0.45 during trading hours on Friday, hitting $66.46. 41,308 shares of the company’s stock were exchanged, compared to its average volume of 310,273. Skyline Champion Co. has a 1-year low of $52.12 and a 1-year high of $86.71. The company has a debt-to-equity ratio of 0.02, a current ratio of 2.36 and a quick ratio of 1.54. The stock has a market capitalization of $3.84 billion, a price-to-earnings ratio of 26.34 and a beta of 1.57. The company’s 50-day moving average price is $72.86 and its 200-day moving average price is $75.63.

Skyline Champion (NYSE:SKY) last issued its earnings results on Tuesday, May 21st. The company reported $0.62 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.67 by ($0.05). The company had revenue of $536.36 million during the quarter, compared to analyst estimates of $560.90 million. Skyline Champion had a return on equity of 13.32% and a net margin of 7.24%. The company’s quarterly revenue was up 9.1% on a year-over-year basis. During the same period in the previous year, the company posted $1.00 earnings per share. On average, sell-side analysts expect that Skyline Champion Co. will post 2.76 earnings per share for the current fiscal year.

Insider Buying and Selling at Skyline Champion

In other news, EVP Joseph A. Kimmell sold 10,042 shares of the firm’s stock in a transaction on Thursday, May 30th. The stock was sold at an average price of $70.12, for a total value of $704,145.04. Following the transaction, the executive vice president now directly owns 47,262 shares in the company, valued at approximately $3,314,011.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Skyline Champion news, insider Timothy Mark Larson sold 3,500 shares of Skyline Champion stock in a transaction dated Friday, June 14th. The stock was sold at an average price of $71.98, for a total value of $251,930.00. Following the sale, the insider now owns 48,800 shares of the company’s stock, valued at approximately $3,512,624. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Joseph A. Kimmell sold 10,042 shares of Skyline Champion stock in a transaction dated Thursday, May 30th. The shares were sold at an average price of $70.12, for a total value of $704,145.04. Following the completion of the sale, the executive vice president now directly owns 47,262 shares in the company, valued at approximately $3,314,011.44. The disclosure for this sale can be found here. Corporate 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.