Wellington Management Group LLP Decreases Holdings in Skyline Champion Co. (NYSE:SKY)

Wellington Management Group LLP lessened its stake in Skyline Champion Co. (NYSE:SKY) by 2.7% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 7,638,764 shares of the company’s stock after selling 209,203 shares during the period. Wellington Management Group LLP owned about 13.31% of Skyline Champion worth $724,537,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. FMR LLC raised its position in shares of Skyline Champion by 32.3% in the 3rd quarter. FMR LLC now owns 1,491,907 shares of the company’s stock worth $141,507,000 after acquiring an additional 363,885 shares in the last quarter. Assenagon Asset Management S.A. bought a new position in shares of Skyline Champion during the 3rd quarter valued at $27,769,000. Victory Capital Management Inc. boosted its position in Skyline Champion by 46.0% in the second quarter. Victory Capital Management Inc. now owns 669,895 shares of the company’s stock worth $45,385,000 after purchasing an additional 211,099 shares during the last quarter. Cerity Partners LLC grew its position in Skyline Champion by 118.8% during the third quarter. Cerity Partners LLC now owns 188,767 shares of the company’s stock valued at $17,905,000 after buying an additional 102,506 shares during the period. Finally, State Street Corp increased its stake in shares of Skyline Champion by 4.6% in the 3rd quarter. State Street Corp now owns 1,790,962 shares of the company’s stock worth $169,873,000 after purchasing an additional 78,733 shares in the last quarter.

Skyline Champion Stock Up 0.3 %

SKY stock opened at $104.27 on Friday. The firm has a market capitalization of $5.99 billion, a price-to-earnings ratio of 40.26 and a beta of 1.59. The company’s 50 day moving average price is $96.20 and its 200 day moving average price is $85.17. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.64 and a current ratio of 2.42. Skyline Champion Co. has a fifty-two week low of $64.34 and a fifty-two week high of $107.26.

Skyline Champion (NYSE:SKY) last released its quarterly earnings results on Monday, October 28th. The company reported $0.93 EPS for the quarter, beating the consensus estimate of $0.61 by $0.32. Skyline Champion had a net margin of 6.42% and a return on equity of 13.20%. The firm had revenue of $616.88 million during the quarter, compared to the consensus estimate of $600.52 million. During the same quarter in the prior year, the firm earned $0.82 EPS. Skyline Champion’s revenue for the quarter was up 32.9% on a year-over-year basis. On average, equities research analysts anticipate that Skyline Champion Co. will post 3.43 EPS for the current fiscal year.

Analyst Ratings Changes

Several research analysts have weighed in on the company. Craig Hallum upped their price target on Skyline Champion from $92.00 to $99.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. Royal Bank of Canada boosted their target price on shares of Skyline Champion from $82.00 to $88.00 and gave the company a “sector perform” rating in a research note on Wednesday, October 30th. Barclays lifted their target price on Skyline Champion from $85.00 to $90.00 and gave the company an “equal weight” rating in a research report on Thursday, October 31st. Finally, Jefferies Financial Group lifted their price target on Skyline Champion from $79.00 to $86.00 and gave the company a “hold” rating in a report on Wednesday, October 9th. Five research analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $85.40.

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.