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

California Public Employees Retirement System cut its holdings in Skyline Champion Co. (NYSE:SKY) by 6.8% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 80,443 shares of the company’s stock after selling 5,838 shares during the quarter. California Public Employees Retirement System owned 0.14% of Skyline Champion worth $7,087,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in the business. JPMorgan Chase & Co. increased its holdings in Skyline Champion by 137.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 127,307 shares of the company’s stock worth $12,075,000 after acquiring an additional 73,697 shares in the last quarter. Bank of New York Mellon Corp grew its position in shares of Skyline Champion by 80.7% in the fourth quarter. Bank of New York Mellon Corp now owns 351,060 shares of the company’s stock valued at $30,928,000 after purchasing an additional 156,757 shares during the period. Harbor Capital Advisors Inc. increased its stake in shares of Skyline Champion by 26.3% during the fourth quarter. Harbor Capital Advisors Inc. now owns 119,154 shares of the company’s stock worth $10,497,000 after purchasing an additional 24,781 shares in the last quarter. Van ECK Associates Corp raised its position in shares of Skyline Champion by 21.8% during the 4th quarter. Van ECK Associates Corp now owns 40,108 shares of the company’s stock worth $3,534,000 after purchasing an additional 7,184 shares during the last quarter. Finally, Rhumbline Advisers raised its position in shares of Skyline Champion by 85.0% during the 4th quarter. Rhumbline Advisers now owns 151,781 shares of the company’s stock worth $13,372,000 after purchasing an additional 69,756 shares during the last quarter.

Skyline Champion Stock Down 4.1 %

SKY stock opened at $83.57 on Tuesday. The company has a current ratio of 2.59, a quick ratio of 1.74 and a debt-to-equity ratio of 0.02. The firm has a 50-day moving average of $97.62 and a two-hundred day moving average of $95.86. Skyline Champion Co. has a 12 month low of $64.82 and a 12 month high of $116.49. The company has a market cap of $4.79 billion, a price-to-earnings ratio of 29.43 and a beta of 1.41.

Skyline Champion (NYSE:SKY) last posted its quarterly earnings results on Tuesday, February 4th. The company reported $1.04 EPS for the quarter, beating the consensus estimate 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, analysts forecast that Skyline Champion Co. will post 3.63 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts have commented on the company. Barclays boosted their price objective on Skyline Champion from $90.00 to $106.00 and gave the stock an “equal weight” rating in a research note on Thursday, February 6th. Royal Bank of Canada lifted their price target on Skyline Champion from $88.00 to $96.00 and gave the stock a “sector perform” rating in a research note on Thursday, February 6th. Five research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Skyline Champion currently has a consensus rating of “Hold” and a consensus price target of $90.20.

Insiders Place Their Bets

In other news, VP Timothy A. Burkhardt sold 3,823 shares of the firm’s 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 owns 32,706 shares in the company, 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 Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Joseph A. Kimmell sold 4,335 shares of the company’s stock in a transaction that occurred on Monday, February 10th. The shares were 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 $4,107,020.31. This represents a 9.91 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 6.90% of the company’s stock.

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.