Bank of America Corp DE Sells 17,799 Shares of Skyline Champion Co. (NYSE:SKY)

Bank of America Corp DE trimmed its holdings in shares of Skyline Champion Co. (NYSE:SKY - Free Report) by 7.6% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 216,163 shares of the company's stock after selling 17,799 shares during the period. Bank of America Corp DE owned about 0.38% of Skyline Champion worth $19,044,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of SKY. Capital Research Global Investors acquired a new position in Skyline Champion during the fourth quarter worth $98,978,000. Vanguard Group Inc. raised its holdings in shares of Skyline Champion by 17.3% in the fourth quarter. Vanguard Group Inc. now owns 5,942,992 shares of the company's stock worth $523,578,000 after acquiring an additional 876,712 shares during the last quarter. Norges Bank purchased a new stake in shares of Skyline Champion in the fourth quarter valued at $69,346,000. Capital World Investors grew its position in shares of Skyline Champion by 31.5% in the fourth quarter. Capital World Investors now owns 2,638,862 shares of the company's stock valued at $232,484,000 after purchasing an additional 632,718 shares during the period. Finally, Principal Financial Group Inc. grew its position 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 valued at $22,635,000 after acquiring an additional 252,601 shares during the period.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on SKY. Barclays lowered their price target on Skyline Champion from $106.00 to $97.00 and set an "equal weight" rating for the company in a research report on Tuesday, April 8th. Royal Bank of Canada boosted their price target 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. Five research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $88.40.

Skyline Champion Stock Performance

Shares of NYSE:SKY traded down $1.57 during trading on Friday, hitting $84.09. 702,271 shares of the company traded hands, compared to its average volume of 542,993. The stock has a market capitalization of $4.82 billion, a price-to-earnings ratio of 29.61 and a beta of 1.37. The business's fifty day moving average is $87.99 and its 200-day moving average is $94.01. Skyline Champion Co. has a one year low of $64.82 and a one year high of $116.49. The company has a quick ratio of 1.74, a current ratio of 2.59 and a debt-to-equity ratio of 0.02.

Skyline Champion Company 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.