California State Teachers Retirement System Has $476.53 Million Stock Holdings in Champion Homes, Inc. $SKY

Key Points

• California State Teachers Retirement System increased its Champion Homes stake by 8,448.3% in the second quarter, reaching 5.4 million shares valued at approximately $476.5 million, or 9.96% of the company.
• Analysts remain broadly positive, with Champion Homes carrying a “Moderate Buy” consensus rating and an average price target of $104; RBC and Barclays recently raised their targets to $99 and $109, respectively.
• Champion Homes exceeded quarterly expectations with adjusted EPS of $0.88 versus $0.87 expected and revenue of $710.2 million, up 1.3% year over year, while two directors recently sold shares.

California State Teachers Retirement System boosted its holdings in Champion Homes, Inc. (NYSE:SKY - Free Report) by 8,448.3% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 5,407,748 shares of the company's stock after acquiring an additional 5,344,487 shares during the period. California State Teachers Retirement System owned 9.96% of Champion Homes worth $476,531,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently bought and sold shares of the stock. Nykredit A S bought a new stake in shares of Champion Homes in the second quarter valued at approximately $196,000. B. Metzler seel. Sohn & Co. AG grew its position in Champion Homes by 6.8% during the 2nd quarter. B. Metzler seel. Sohn & Co. AG now owns 62,027 shares of the company's stock worth $5,466,000 after acquiring an additional 3,942 shares during the last quarter. Beaconlight Capital LLC bought a new stake in shares of Champion Homes during the second quarter worth about $3,001,000. Two Sigma Securities LLC bought a new stake in Champion Homes during the 2nd quarter worth approximately $270,000. Finally, Alyeska Investment Group L.P. increased its holdings in Champion Homes by 32.4% in the second quarter. Alyeska Investment Group L.P. now owns 588,436 shares of the company's stock valued at $51,853,000 after purchasing an additional 143,954 shares during the period.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the company. Royal Bank Of Canada boosted their price objective on Champion Homes from $92.00 to $99.00 and gave the company an "outperform" rating in a research note on Thursday, August 6th. Barclays lifted their price objective on shares of Champion Homes from $102.00 to $109.00 and gave the company an "overweight" rating in a report on Thursday, August 6th. Citigroup assumed coverage on Champion Homes in a report on Friday, June 5th. They set a "buy" rating and a $93.00 price target for the company. Zacks Research upgraded shares of Champion Homes from a "strong sell" rating to a "hold" rating in a research note on Monday, July 27th. Finally, Weiss Ratings raised Champion Homes from a "hold (c-)" rating to a "hold (c)" rating in a research report on Friday, August 7th. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $104.00.

Champion Homes Trading Up 1.0%

NYSE SKY opened at $83.99 on Tuesday. The company has a market capitalization of $4.56 billion, a price-to-earnings ratio of 24.49 and a beta of 1.01. The stock's 50-day simple moving average is $86.32 and its two-hundred day simple moving average is $80.93. The company has a quick ratio of 1.97, a current ratio of 2.74 and a debt-to-equity ratio of 0.01. Champion Homes, Inc. has a twelve month low of $63.69 and a twelve month high of $99.17.

Champion Homes (NYSE:SKY - Get Free Report) last posted its quarterly earnings results on Tuesday, August 4th. The company reported $0.88 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.87 by $0.01. The business had revenue of $710.23 million during the quarter, compared to analyst estimates of $701.98 million. Champion Homes had a net margin of 7.16% and a return on equity of 12.52%. The company's revenue was up 1.3% on a year-over-year basis. During the same period in the prior year, the business posted $1.19 earnings per share. Research analysts forecast that Champion Homes, Inc. will post 3.4 EPS for the current fiscal year.

Insider Activity at Champion Homes

In related news, Director Michael Berman sold 1,500 shares of the stock in a transaction dated Monday, August 10th. The shares were sold at an average price of $93.22, for a total value of $139,830.00. Following the completion of the transaction, the director directly owned 6,825 shares in the company, valued at $636,226.50. This trade represents a 18.02% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Erin Helgren sold 1,100 shares of the business's stock in a transaction on Friday, August 7th. The stock was sold at an average price of $95.00, for a total value of $104,500.00. Following the completion of the sale, the director directly owned 8,196 shares in the company, valued at $778,620. This trade represents a 11.83% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.60% of the stock is currently owned by corporate insiders.

About Champion Homes

Champion Homes, Inc, formerly known as Skyline Champion Corporation, designs and manufactures factory-built housing for residential, commercial and specialized applications. Its portfolio includes manufactured homes, modular homes, park model homes, accessory dwelling units and other prefabricated structures, offered through a range of brands and configurations.

The company sells its products through independent and company-owned retailers, builders and developers, serving customers across the United States and parts of Canada.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.