Skyline Champion Co. (NYSE:SKY) Stock Position Decreased by T. Rowe Price Investment Management Inc.

T. Rowe Price Investment Management Inc. cut its stake in shares of Skyline Champion Co. (NYSE:SKY) by 28.2% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,425,111 shares of the company’s stock after selling 560,137 shares during the period. T. Rowe Price Investment Management Inc. owned approximately 2.49% of Skyline Champion worth $125,553,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of SKY. Capital Research Global Investors acquired a new stake in Skyline Champion during the 4th quarter worth about $98,978,000. Vanguard Group Inc. lifted its position in shares of Skyline Champion by 17.3% in the 4th quarter. Vanguard Group Inc. now owns 5,942,992 shares of the company’s stock valued at $523,578,000 after acquiring an additional 876,712 shares in the last quarter. Norges Bank acquired a new position in Skyline Champion in the 4th quarter worth approximately $69,346,000. Capital World Investors grew its position in Skyline Champion by 31.5% during the 4th quarter. Capital World Investors now owns 2,638,862 shares of the company’s stock worth $232,484,000 after purchasing an additional 632,718 shares in the last quarter. Finally, Principal Financial Group Inc. raised its stake in Skyline Champion by 5,843.2% during the 4th quarter. Principal Financial Group Inc. now owns 256,924 shares of the company’s stock valued at $22,635,000 after purchasing an additional 252,601 shares during the period.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on SKY. Barclays decreased their target price on Skyline Champion from $106.00 to $97.00 and set an “equal weight” rating for the company in a research report on Tuesday, April 8th. Royal Bank of Canada lifted their target price on Skyline Champion from $88.00 to $96.00 and gave the company 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. According to data from MarketBeat.com, Skyline Champion currently has a consensus rating of “Hold” and a consensus target price of $88.40.

Insiders Place Their Bets

In other news, VP Timothy A. Burkhardt sold 3,823 shares of the 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 of the company’s stock, valued at approximately $3,495,290.22. This represents a 10.47 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Joseph A. Kimmell sold 4,335 shares of the firm’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 directly owns 39,411 shares in the company, valued at $4,107,020.31. The trade was a 9.91 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 6.90% of the company’s stock.

Skyline Champion Stock Performance

Shares of SKY stock opened at $85.62 on Friday. The firm has a market cap of $4.90 billion, a P/E ratio of 30.15 and a beta of 1.41. The company has a debt-to-equity ratio of 0.02, a current ratio of 2.59 and a quick ratio of 1.74. Skyline Champion Co. has a fifty-two week low of $64.82 and a fifty-two week high of $116.49. The stock’s 50-day moving average is $92.34 and its two-hundred day moving average is $94.65.

Skyline Champion (NYSE:SKY) last posted its earnings results on Tuesday, February 4th. The company reported $1.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.80 by $0.24. Skyline Champion had a net margin of 6.80% and a return on equity of 13.80%. Analysts predict that Skyline Champion Co. will post 3.63 earnings per share for the current fiscal year.

About Skyline Champion

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.