Bank of New York Mellon Corp Increases Stock Position in Skyline Champion Co. (NYSE:SKY)

Bank of New York Mellon Corp raised its holdings in Skyline Champion Co. (NYSE:SKY) by 80.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 351,060 shares of the company’s stock after purchasing an additional 156,757 shares during the quarter. Bank of New York Mellon Corp owned 0.61% of Skyline Champion worth $30,928,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Truvestments Capital LLC acquired a new position in shares of Skyline Champion during the 3rd quarter worth approximately $32,000. Quarry LP acquired a new position in shares of Skyline Champion during the 3rd quarter worth approximately $67,000. Venturi Wealth Management LLC acquired a new position in shares of Skyline Champion during the 4th quarter worth approximately $112,000. MML Investors Services LLC acquired a new position in Skyline Champion in the 3rd quarter valued at $216,000. Finally, KBC Group NV raised its holdings in Skyline Champion by 53.9% in the 4th quarter. KBC Group NV now owns 2,288 shares of the company’s stock valued at $202,000 after acquiring an additional 801 shares during the last quarter.

Skyline Champion Stock Down 2.2 %

Shares of NYSE SKY opened at $96.72 on Friday. Skyline Champion Co. has a 52-week low of $64.82 and a 52-week high of $116.49. The firm has a fifty day moving average of $95.79 and a 200-day moving average of $95.48. The stock has a market capitalization of $5.54 billion, a PE ratio of 34.06 and a beta of 1.61. The company has a quick ratio of 1.74, a current ratio of 2.59 and a debt-to-equity ratio of 0.02.

Skyline Champion (NYSE:SKY) last announced its quarterly earnings data on Tuesday, February 4th. The company reported $1.04 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.80 by $0.24. Skyline Champion had a net margin of 6.80% and a return on equity of 13.80%. On average, analysts anticipate that Skyline Champion Co. will post 3.63 EPS for the current year.

Wall Street Analyst Weigh In

Several research analysts have weighed in on SKY shares. Barclays boosted their price target on Skyline Champion from $90.00 to $106.00 and gave the company an “equal weight” rating in a report on Thursday, February 6th. Royal Bank of Canada boosted their price target on Skyline Champion from $88.00 to $96.00 and gave the company a “sector perform” rating in a 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. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $90.20.

Insider Activity

In related news, VP Timothy A. Burkhardt sold 3,823 shares of the company’s stock in a transaction 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 directly 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 document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Joseph A. Kimmell sold 4,335 shares of the company’s stock in a transaction on Monday, February 10th. The stock was sold at an average price of $104.21, for a total transaction of $451,750.35. Following the sale, the executive vice president now directly owns 39,411 shares of the company’s stock, valued at approximately $4,107,020.31. This trade 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 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.