Principal Financial Group Inc. Buys 1,639 Shares of Skyline Champion Co. (NYSE:SKY)

Principal Financial Group Inc. boosted its position in shares of Skyline Champion Co. (NYSE:SKY) by 9.5% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 18,972 shares of the company’s stock after acquiring an additional 1,639 shares during the period. Principal Financial Group Inc.’s holdings in Skyline Champion were worth $1,285,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the company. Burney Co. acquired a new stake in Skyline Champion during the second quarter worth $231,000. Bank of New York Mellon Corp increased its stake in Skyline Champion by 7.0% in the second quarter. Bank of New York Mellon Corp now owns 234,605 shares of the company’s stock valued at $15,894,000 after acquiring an additional 15,277 shares during the period. Argent Capital Management LLC raised its position in Skyline Champion by 44.8% in the second quarter. Argent Capital Management LLC now owns 13,666 shares of the company’s stock worth $926,000 after purchasing an additional 4,231 shares in the last quarter. Penbrook Management LLC lifted its stake in Skyline Champion by 2.7% during the second quarter. Penbrook Management LLC now owns 9,810 shares of the company’s stock worth $665,000 after purchasing an additional 260 shares during the period. Finally, SummerHaven Investment Management LLC grew its stake in shares of Skyline Champion by 2.0% in the 2nd quarter. SummerHaven Investment Management LLC now owns 11,262 shares of the company’s stock valued at $763,000 after purchasing an additional 216 shares during the period.

Analysts Set New Price Targets

A number of analysts have weighed in on the company. Barclays upped their price target on Skyline Champion from $68.00 to $85.00 and gave the company an “equal weight” rating in a research report on Monday, August 12th. StockNews.com upgraded shares of Skyline Champion from a “sell” rating to a “hold” rating in a research report on Thursday, August 8th. Craig Hallum cut their target price on shares of Skyline Champion from $88.00 to $84.00 and set a “buy” rating for the company in a research note on Thursday, May 23rd. Wedbush restated a “neutral” rating and set a $64.00 price target on shares of Skyline Champion in a research report on Wednesday, August 7th. Finally, Royal Bank of Canada lifted their price objective on Skyline Champion from $68.00 to $82.00 and gave the company a “sector perform” rating in a research report on Thursday, August 8th. Four investment 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, the company currently has an average rating of “Hold” and an average price target of $78.75.

Insider Activity at Skyline Champion

In related news, Director Mak Capital One Llc sold 80,000 shares of the stock in a transaction that occurred on Wednesday, September 4th. The shares were sold at an average price of $90.16, for a total value of $7,212,800.00. Following the sale, the director now directly owns 2,920,000 shares in the company, valued at approximately $263,267,200. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, EVP Jonathan Wade Lyall sold 10,000 shares of the stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $89.90, for a total transaction of $899,000.00. Following the completion of the sale, the executive vice president now owns 36,082 shares of the company’s stock, valued at $3,243,771.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Mak Capital One Llc sold 80,000 shares of the company’s stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of $90.16, for a total transaction of $7,212,800.00. Following the completion of the transaction, the director now directly owns 2,920,000 shares of the company’s stock, valued at $263,267,200. The disclosure for this sale can be found here. Over the last quarter, insiders sold 163,636 shares of company stock worth $14,582,253. 6.90% of the stock is owned by insiders.

Skyline Champion Price Performance

Shares of SKY stock opened at $91.34 on Friday. The company has a quick ratio of 1.57, a current ratio of 2.33 and a debt-to-equity ratio of 0.02. Skyline Champion Co. has a 12 month low of $52.12 and a 12 month high of $93.67. The firm has a market cap of $5.26 billion, a price-to-earnings ratio of 35.96 and a beta of 1.57. The stock has a 50-day moving average price of $82.70 and a 200 day moving average price of $78.76.

Skyline Champion (NYSE:SKY) last announced its quarterly earnings data on Tuesday, August 6th. The company reported $0.91 earnings per share for the quarter, beating the consensus estimate of $0.69 by $0.22. Skyline Champion had a net margin of 6.45% and a return on equity of 13.07%. The business had revenue of $627.80 million for the quarter, compared to analyst estimates of $600.39 million. During the same period in the prior year, the business posted $0.89 earnings per share. Skyline Champion’s revenue was up 35.1% compared to the same quarter last year. Research analysts expect that Skyline Champion Co. will post 3.01 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.