Fintel reports that Vanguard Group has filed Form 13G/A with the SEC, disclosing its ownership of 870,000 shares of Cavco Industries, Inc. (CVCO). This equates to his 10.02% of the company.
In an earlier filing dated February 9, 2023, they reported 0.85MM shares and 9.52% of the company.
2.70% increase in equity and 0.50% increase in total ownership (calculated as current – previous ownership percentage).
Analyst price forecast suggests a 26.22% gain
As of March 9, 2023, Cavco Industries’ average price target for the year is $365.50. Predictions range from as low as $313.10 to as high as $430.50. The average price target represents a 26.22% increase from the latest reported closing price of $289.57.
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Cavco Industries has projected annual revenue of $2,246 million, an increase of 3.42%. Projected full-year non-GAAP EPS is $26.81.
What is Fund Sentiment?
There are 587 funds or institutions reporting positions in Cavco Industries. This is an increase of 28 owners or 5.01% over the previous quarter.Portfolio average weight of all funds 0.20% dedicated to CVCO, a decrease of 7.00%. The total number of shares owned by the institution increased by 0.62% to 9,844,000 shares over the past three months. CVCO’s put/call ratio stands at 1.34, indicating a bearish outlook.
What do major shareholders do?
The IJR – iShares Core S&P Small-Cap ETF holds 614,000 shares representing a 7.06% ownership interest in the company. In previous filings, the company reported that it owned 606,000 of his shares.
Portfolio allocation at CVCO increased by 1.37% last quarter.
Capital World Investors holds 419,000 shares representing a 4.82% ownership interest in the company. In previous filings, the company reported he owned 171,000 shares.
Portfolio allocation at CVCO increased by 156.20% last quarter.
SMCWX – SMALLCAP WORLD FUND INC owns 419,000 shares representing a 4.82% ownership interest in the company. In previous filings, the company reported he owned 171,000 shares.
Portfolio allocation at CVCO increased 152.19% last quarter.
Broad Bay Capital Management owns 378,000 shares representing a 4.35% ownership interest in the company. In previous filings, the company reported he owned 292,000 shares.
Portfolio allocation at CVCO increased by 14.79% last quarter.
Wellington Management Group Llp holds 334,000 shares representing a 3.84% ownership interest in the company. In previous filings, the company reported that it owned 252,000 of his shares.
Last quarter’s CVCO portfolio allocation increased by 36.86%.
Cavco Industries Background Information
(This description is provided by the company.)
Headquartered in Phoenix, Arizona, Cavco Industries, Inc. designs and manufactures factory-built residential products sold primarily through a network of independent and corporate-owned retailers. Based on reported wholesale shipments, Cavco Industries is one of the largest manufacturing home manufacturers in the United States, marketed under various brand names such as Cavco, Fleetwood, Palm Harbor, Fairmont, Friendship, Chariot Eagle and Destiny. The company is also a leading manufacturer of Park Model his RVs, vacation cabins, system built commercial structures and modular homes. Country Place Mortgage, a finance subsidiary of Cavco, is an authorized Fannie Mae and Freddie Mac seller/servicer, an issuer of Ginnie Mae mortgage-backed securities, and a We provide residential mortgages to buyers of built homes. Standard Casualty, an insurance subsidiary, provides property and casualty insurance to owners of manufactured homes.
This story was originally published in Fintel.
The views and opinions expressed herein are those of the authors and do not necessarily reflect those of Nasdaq, Inc.