Champion Homes, Inc. (NYSE:SKY) Stock Position Decreased by Swiss National Bank

Swiss National Bank cut its position in shares of Champion Homes, Inc. (NYSE:SKY) by 1.5% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 105,700 shares of the company’s stock after selling 1,600 shares during the period. Swiss National Bank owned 0.18% of Champion Homes worth $10,016,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Capital World Investors increased its holdings in shares of Champion Homes by 31.5% during the 4th quarter. Capital World Investors now owns 2,638,862 shares of the company’s stock valued at $232,484,000 after acquiring an additional 632,718 shares during the last quarter. Ameriprise Financial Inc. raised its stake in shares of Champion Homes by 17.2% in 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 in the last quarter. Capital Research Global Investors bought a new position in shares of Champion Homes in the 4th quarter valued at approximately $98,978,000. Charles Schwab Investment Management Inc. raised its stake in shares of Champion Homes by 2.3% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 698,052 shares of the company’s stock valued at $66,147,000 after acquiring an additional 15,793 shares in the last quarter. Finally, Congress Asset Management Co. raised its stake in shares of Champion Homes by 8.8% in the 1st quarter. Congress Asset Management Co. now owns 661,578 shares of the company’s stock valued at $62,691,000 after acquiring an additional 53,543 shares in the last quarter.

Analyst Ratings Changes

A number of brokerages recently weighed in on SKY. Barclays raised their price objective on Champion Homes from $72.00 to $74.00 and gave the company an “equal weight” rating in a research note on Thursday, August 7th. Royal Bank Of Canada raised their price objective on Champion Homes from $82.00 to $85.00 and gave the company a “sector perform” rating in a research note on Thursday, August 7th. Finally, Zelman & Associates raised Champion Homes from a “strong sell” rating to a “hold” rating in a research note on Thursday, June 5th. Four 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, the stock currently has an average rating of “Hold” and a consensus target price of $86.00.

Champion Homes Stock Performance

Shares of NYSE SKY opened at $73.31 on Friday. The company has a quick ratio of 1.59, a current ratio of 2.39 and a debt-to-equity ratio of 0.02. The business’s 50 day moving average is $65.26 and its two-hundred day moving average is $81.52. The company has a market cap of $4.14 billion, a P/E ratio of 19.50 and a beta of 1.13. Champion Homes, Inc. has a 12 month low of $59.44 and a 12 month high of $116.49.

Champion Homes (NYSE:SKY) last issued its quarterly earnings results on Tuesday, August 5th. The company reported $1.19 EPS for the quarter, topping the consensus estimate 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%. The company’s revenue for the quarter was up 11.7% on a year-over-year basis. During the same period in the previous year, the business posted $0.91 EPS. On average, equities analysts expect that Champion Homes, Inc. will post 3.63 EPS for the current year.

Champion Homes declared that its Board of Directors has approved a stock buyback program on Friday, May 30th that allows the company to repurchase $50.00 million in outstanding shares. This repurchase authorization allows the company to repurchase up to 1.3% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s leadership believes its stock is undervalued.

Insider Buying and Selling

In other Champion Homes news, EVP Joseph A. Kimmell sold 3,000 shares of Champion Homes stock in a transaction that occurred on Friday, August 8th. The stock was sold at an average price of $66.03, for a total value of $198,090.00. Following the transaction, the executive vice president directly owned 44,568 shares of the company’s stock, valued at $2,942,825.04. The trade was a 6.31% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 1.20% of the stock is currently owned by corporate insiders.

Champion Homes 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.