First Eagle Investment Management LLC Cuts Position in Skyline Champion Co. (NYSE:SKY)

First Eagle Investment Management LLC trimmed its holdings in shares of Skyline Champion Co. (NYSE:SKY) by 21.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 94,338 shares of the company’s stock after selling 26,500 shares during the quarter. First Eagle Investment Management LLC owned 0.16% of Skyline Champion worth $8,311,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. State Street Corp grew its stake in Skyline Champion by 4.6% during the 3rd quarter. State Street Corp now owns 1,790,962 shares of the company’s stock worth $169,873,000 after buying an additional 78,733 shares during the last quarter. FMR LLC grew its stake in Skyline Champion by 32.3% during the 3rd quarter. FMR LLC now owns 1,491,907 shares of the company’s stock worth $141,507,000 after buying an additional 363,885 shares during the last quarter. Charles Schwab Investment Management Inc. grew its stake in Skyline Champion by 6.6% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 682,259 shares of the company’s stock worth $60,107,000 after buying an additional 42,278 shares during the last quarter. Congress Asset Management Co. grew its stake in Skyline Champion by 4.0% during the 4th quarter. Congress Asset Management Co. now owns 608,035 shares of the company’s stock worth $53,568,000 after buying an additional 23,594 shares during the last quarter. Finally, Summit Partners Public Asset Management LLC grew its stake in Skyline Champion by 23.3% during the 3rd quarter. Summit Partners Public Asset Management LLC now owns 404,673 shares of the company’s stock worth $38,383,000 after buying an additional 76,573 shares during the last quarter.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the company. Royal Bank of Canada boosted their target price 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. Barclays lifted their price target on Skyline Champion from $90.00 to $106.00 and gave the stock an “equal weight” rating in a research report on Thursday, February 6th. Five analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat.com, Skyline Champion currently 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 dated Tuesday, February 11th. The stock was sold at an average price of $106.87, for a total value of $408,564.01. Following the completion of 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 transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Joseph A. Kimmell sold 4,335 shares of the company’s stock in a transaction dated Monday, February 10th. The stock was 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 of the company’s stock, valued at $4,107,020.31. The trade was a 9.91 % decrease in their position. The disclosure for this sale can be found here. Insiders own 6.90% of the company’s stock.

Skyline Champion Stock Performance

Shares of SKY opened at $94.56 on Friday. The stock has a market cap of $5.42 billion, a P/E ratio of 33.29 and a beta of 1.61. The stock has a 50-day moving average of $96.38 and a two-hundred day moving average of $95.57. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.74 and a current ratio of 2.59. Skyline Champion Co. has a one year low of $64.82 and a one year high of $116.49.

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 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, research analysts predict that Skyline Champion Co. will post 3.63 EPS for the current year.

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.