Wells Fargo & Company MN Has $11.33 Million Stake in Skyline Champion Co. (NYSE:SKY)

Wells Fargo & Company MN lifted its position in shares of Skyline Champion Co. (NYSE:SKY - Free Report) by 6.1% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 128,570 shares of the company's stock after acquiring an additional 7,415 shares during the period. Wells Fargo & Company MN owned 0.22% of Skyline Champion worth $11,327,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. SkyView Investment Advisors LLC raised its holdings in shares of Skyline Champion by 2.2% during the third quarter. SkyView Investment Advisors LLC now owns 6,243 shares of the company's stock valued at $592,000 after buying an additional 132 shares during the last quarter. Ulland Investment Advisors LLC raised its stake in Skyline Champion by 0.3% during the 4th quarter. Ulland Investment Advisors LLC now owns 52,610 shares of the company's stock valued at $4,635,000 after acquiring an additional 171 shares in the last quarter. HighTower Advisors LLC grew its stake in shares of Skyline Champion by 3.7% in the fourth quarter. HighTower Advisors LLC now owns 5,019 shares of the company's stock worth $442,000 after purchasing an additional 180 shares in the last quarter. Atria Investments Inc increased its holdings in shares of Skyline Champion by 5.7% during the fourth quarter. Atria Investments Inc now owns 3,726 shares of the company's stock valued at $328,000 after purchasing an additional 202 shares during the period. Finally, PNC Financial Services Group Inc. lifted its holdings in Skyline Champion by 3.9% in the fourth quarter. PNC Financial Services Group Inc. now owns 5,745 shares of the company's stock worth $506,000 after purchasing an additional 213 shares during the period.

Wall Street Analysts Forecast Growth

A number of analysts have commented on SKY shares. Barclays dropped their price target on shares of Skyline Champion from $106.00 to $97.00 and set an "equal weight" rating on the stock in a research report on Tuesday, April 8th. 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 report on Thursday, February 6th. Five equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $88.40.

Insiders Place Their Bets

In related news, EVP Joseph A. Kimmell sold 4,335 shares of the 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 sale, the executive vice president now directly owns 39,411 shares of the company's stock, valued at approximately $4,107,020.31. This represents a 9.91 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Timothy A. Burkhardt sold 3,823 shares of the company's stock in a transaction dated Tuesday, February 11th. The shares were 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 in the company, valued at $3,495,290.22. This represents a 10.47 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 6.90% of the company's stock.

Skyline Champion Price Performance

NYSE:SKY traded up $1.42 during trading hours on Friday, reaching $81.93. 346,217 shares of the company's stock were exchanged, compared to its average volume of 531,688. The company has a market capitalization of $4.69 billion, a P/E ratio of 28.85 and a beta of 1.41. Skyline Champion Co. has a 12 month low of $64.82 and a 12 month high of $116.49. The business's 50-day simple moving average is $94.31 and its two-hundred day simple moving average is $94.98. 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 (NYSE:SKY - Get Free Report) last announced its earnings results on Tuesday, February 4th. The company reported $1.04 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.80 by $0.24. Skyline Champion had a return on equity of 13.80% and a net margin of 6.80%. Sell-side analysts expect that Skyline Champion Co. will post 3.63 EPS for the current fiscal year.

About Skyline Champion

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.