Invesco Ltd. Buys 69,723 Shares of Skyline Champion Co. (NYSE:SKY)

Invesco Ltd. increased its position in shares of Skyline Champion Co. (NYSE:SKY) by 28.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 312,462 shares of the company’s stock after buying an additional 69,723 shares during the quarter. Invesco Ltd. owned 0.55% of Skyline Champion worth $27,528,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in SKY. Vanguard Group Inc. lifted its stake in Skyline Champion by 17.3% during the fourth quarter. Vanguard Group Inc. now owns 5,942,992 shares of the company’s stock worth $523,578,000 after purchasing an additional 876,712 shares during the period. Norges Bank bought a new stake in Skyline Champion in the fourth quarter valued at $69,346,000. Principal Financial Group Inc. raised its stake in Skyline Champion by 5,843.2% during the fourth quarter. Principal Financial Group Inc. now owns 256,924 shares of the company’s stock worth $22,635,000 after acquiring an additional 252,601 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in shares of Skyline Champion by 80.7% in the 4th 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 in the last quarter. Finally, JPMorgan Chase & Co. grew its holdings in shares of Skyline Champion by 120.3% in the 4th quarter. JPMorgan Chase & Co. now owns 280,396 shares of the company’s stock worth $24,703,000 after purchasing an additional 153,089 shares during the last quarter.

Insider Activity at Skyline Champion

In other news, VP Timothy A. Burkhardt sold 3,823 shares of Skyline Champion stock in a transaction that occurred on Tuesday, February 11th. The stock was sold at an average price of $106.87, for a total transaction of $408,564.01. Following the completion of the transaction, the vice president now directly owns 32,706 shares in the company, valued at approximately $3,495,290.22. The trade was a 10.47 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Joseph A. Kimmell sold 4,335 shares of the company’s stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $104.21, for a total transaction 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 trade represents a 9.91 % decrease in their position. The disclosure for this sale can be found here. 6.90% of the stock is owned by insiders.

Skyline Champion Trading Up 1.8 %

NYSE:SKY opened at $81.93 on Friday. The firm has a market capitalization of $4.69 billion, a price-to-earnings ratio of 28.85 and a beta of 1.41. Skyline Champion Co. has a 1-year low of $64.82 and a 1-year high of $116.49. The business’s 50-day moving average price is $94.31 and its two-hundred day moving average price is $94.97. The company has a current ratio of 2.59, a quick ratio of 1.74 and a debt-to-equity ratio of 0.02.

Skyline Champion (NYSE:SKY) last issued its quarterly earnings data 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%. On average, equities analysts expect that Skyline Champion Co. will post 3.63 earnings per share for the current year.

Analysts Set New Price Targets

A number of research firms have recently issued reports on SKY. Royal Bank of Canada lifted their target price on shares of Skyline Champion from $88.00 to $96.00 and gave the company a “sector perform” rating in a research note on Thursday, February 6th. Barclays reduced their price objective on 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. Five research 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.com, Skyline Champion presently has an average rating of “Hold” and a consensus target price of $88.40.

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.