Nuveen LLC Acquires Shares of 144,958 Champion Homes, Inc. $SKY

Key Points

• Nuveen LLC acquired a new position in Champion Homes, Inc., purchasing 144,958 shares valued at approximately $13.74 million, representing 0.25% ownership.
• Multiple large investors, including Ameriprise Financial and Charles Schwab, increased their stakes in Champion Homes during the past quarter, indicating strong institutional interest.
• Champion Homes reported an earnings per share (EPS) of $1.19, exceeding expectations, and announced a $50 million share repurchase program suggesting confidence in their stock's value.

Nuveen LLC purchased a new position in shares of Champion Homes, Inc. (NYSE:SKY - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 144,958 shares of the company's stock, valued at approximately $13,736,000. Nuveen LLC owned 0.25% of Champion Homes as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Ameriprise Financial Inc. boosted its holdings in Champion Homes by 17.2% during the 4th quarter. Ameriprise Financial Inc. now owns 1,646,482 shares of the company's stock valued at $145,055,000 after acquiring an additional 241,326 shares during the period. Charles Schwab Investment Management Inc. increased its position in Champion Homes by 2.3% during the first quarter. Charles Schwab Investment Management Inc. now owns 698,052 shares of the company's stock worth $66,147,000 after buying an additional 15,793 shares during the period. Congress Asset Management Co. increased its position in Champion Homes by 8.8% during the first quarter. Congress Asset Management Co. now owns 661,578 shares of the company's stock worth $62,691,000 after buying an additional 53,543 shares during the period. Northern Trust Corp increased its position in Champion Homes by 14.3% during the fourth quarter. Northern Trust Corp now owns 571,915 shares of the company's stock worth $50,386,000 after buying an additional 71,439 shares during the period. Finally, Summit Partners Public Asset Management LLC increased its position in Champion Homes by 30.4% during the fourth quarter. Summit Partners Public Asset Management LLC now owns 527,770 shares of the company's stock worth $46,497,000 after buying an additional 123,097 shares during the period.

Analysts Set New Price Targets

Several research firms have commented on SKY. Royal Bank Of Canada lifted their price target on Champion Homes from $82.00 to $85.00 and gave the stock a "sector perform" rating in a research report on Thursday, August 7th. Zelman & Associates raised Champion Homes from a "strong sell" rating to a "hold" rating in a report on Thursday, June 5th. Finally, Barclays boosted their target price on Champion Homes from $72.00 to $74.00 and gave the company an "equal weight" rating in a report on Thursday, August 7th. One equities research analyst has rated the stock with a Buy rating and four have given a Hold rating to the company's stock. According to MarketBeat, Champion Homes currently has an average rating of "Hold" and a consensus price target of $86.00.

Champion Homes Price Performance

SKY stock traded up $0.43 on Wednesday, reaching $74.93. 664,384 shares of the company's stock were exchanged, compared to its average volume of 797,515. The stock has a fifty day moving average of $66.97 and a 200-day moving average of $80.27. Champion Homes, Inc. has a twelve month low of $59.44 and a twelve month high of $116.49. The firm has a market cap of $4.23 billion, a PE ratio of 19.93 and a beta of 1.13. The company has a quick ratio of 1.59, a current ratio of 2.39 and a debt-to-equity ratio of 0.02.

Champion Homes (NYSE:SKY - Get Free Report) last posted its earnings results on Tuesday, August 5th. The company reported $1.19 EPS for the quarter, topping analysts' consensus estimates of $0.88 by $0.31. The company had revenue of $701.32 million for the quarter, compared to the consensus estimate of $642.18 million. Champion Homes had a return on equity of 14.35% and a net margin of 8.50%.Champion Homes's quarterly revenue was up 11.7% compared to the same quarter last year. During the same period in the previous year, the business earned $0.91 earnings per share. As a group, equities analysts predict that Champion Homes, Inc. will post 3.63 EPS for the current fiscal year.

Champion Homes announced that its Board of Directors has approved a stock buyback program on Friday, May 30th that permits the company to buyback $50.00 million in shares. This buyback authorization permits the company to repurchase up to 1.3% of its stock through open market purchases. Stock buyback programs are typically a sign that the company's board of directors believes its stock is undervalued.

Insider Activity

In related news, EVP Joseph A. Kimmell sold 1,000 shares of the firm's stock in a transaction that occurred on Monday, August 11th. The shares were sold at an average price of $65.24, for a total value of $65,240.00. Following the sale, the executive vice president directly owned 43,568 shares of the company's stock, valued at approximately $2,842,376.32. This trade represents a 2.24% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 1.20% of the stock is owned by corporate insiders.

Champion Homes 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.