Bank of New York Mellon Corp Takes $23.62 Million Position in e.l.f. Beauty $ELF

Key Points

• Bank of New York Mellon acquired 319,246 shares of e.l.f. Beauty worth approximately $23.62 million, giving it a 0.54% stake. Institutional investors and hedge funds collectively own 92.44% of the company.
• Analysts maintain a generally positive outlook, with e.l.f. Beauty receiving a “Moderate Buy” consensus rating and an average price target of $92.12, though individual targets range from $64 to $105.
• The company reported strong quarterly results, including 35.5% year-over-year revenue growth to $479.37 million and EPS of $1.75, substantially exceeding the $0.71 consensus estimate. Shares opened at $104.20, while insiders have sold about $10.1 million of stock over the past 90 days.

Bank of New York Mellon Corp acquired a new position in e.l.f. Beauty (NYSE:ELF - Free Report) in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 319,246 shares of the company's stock, valued at approximately $23,624,000. Bank of New York Mellon Corp owned 0.54% of e.l.f. Beauty as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also made changes to their positions in the company. BNP Paribas Financial Markets boosted its stake in shares of e.l.f. Beauty by 3,131.7% in the fourth quarter. BNP Paribas Financial Markets now owns 924,902 shares of the company's stock worth $70,330,000 after acquiring an additional 896,282 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its stake in e.l.f. Beauty by 47.9% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 2,197,319 shares of the company's stock worth $167,086,000 after purchasing an additional 711,540 shares in the last quarter. Swedbank AB lifted its stake in e.l.f. Beauty by 97.0% in the 4th quarter. Swedbank AB now owns 1,364,801 shares of the company's stock worth $103,779,000 after purchasing an additional 672,071 shares in the last quarter. Armistice Capital LLC boosted its holdings in shares of e.l.f. Beauty by 394.9% during the 4th quarter. Armistice Capital LLC now owns 657,983 shares of the company's stock worth $50,033,000 after purchasing an additional 525,018 shares during the last quarter. Finally, Norges Bank purchased a new stake in shares of e.l.f. Beauty in the fourth quarter valued at approximately $38,895,000. 92.44% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, insider Kory Marchisotto sold 12,173 shares of the stock in a transaction that occurred on Tuesday, August 4th. The shares were sold at an average price of $88.02, for a total transaction of $1,071,467.46. Following the completion of the transaction, the insider owned 169,695 shares of the company's stock, valued at approximately $14,936,553.90. This trade represents a 6.69% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Joshua Allen Franks sold 5,718 shares of e.l.f. Beauty stock in a transaction that occurred on Wednesday, August 19th. The shares were sold at an average price of $100.00, for a total transaction of $571,800.00. Following the completion of the sale, the senior vice president owned 144,309 shares of the company's stock, valued at $14,430,900. This trade represents a 3.81% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 140,780 shares of company stock worth $10,091,078. Insiders own 3.50% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts recently commented on the company. Robert W. Baird set a $105.00 price target on e.l.f. Beauty in a report on Thursday, August 6th. UBS Group raised their target price on e.l.f. Beauty from $80.00 to $89.00 and gave the stock a "neutral" rating in a research note on Thursday, August 6th. Deutsche Bank Aktiengesellschaft reiterated a "hold" rating and set a $64.00 price target on shares of e.l.f. Beauty in a report on Tuesday, June 16th. Piper Sandler raised their price objective on shares of e.l.f. Beauty from $50.00 to $65.00 and gave the stock a "neutral" rating in a research report on Thursday, August 6th. Finally, Bank of America reduced their target price on shares of e.l.f. Beauty from $93.00 to $85.00 and set a "buy" rating on the stock in a research note on Thursday, May 21st. Two analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $92.12.

e.l.f. Beauty Stock Performance

Shares of e.l.f. Beauty stock opened at $104.20 on Monday. The firm has a market cap of $6.15 billion, a PE ratio of 104.20, a price-to-earnings-growth ratio of 3.24 and a beta of 1.58. The company has a quick ratio of 1.82, a current ratio of 2.55 and a debt-to-equity ratio of 0.69. e.l.f. Beauty has a 52 week low of $48.82 and a 52 week high of $150.99. The business's fifty day simple moving average is $83.63 and its 200-day simple moving average is $72.98.

e.l.f. Beauty (NYSE:ELF - Get Free Report) last issued its quarterly earnings data on Wednesday, August 5th. The company reported $1.75 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.71 by $1.04. e.l.f. Beauty had a return on equity of 14.07% and a net margin of 3.38%.The firm had revenue of $479.37 million during the quarter, compared to the consensus estimate of $431.20 million. During the same period last year, the company earned $0.89 EPS. The company's quarterly revenue was up 35.5% on a year-over-year basis. e.l.f. Beauty has set its FY 2027 guidance at 3.500-3.550 EPS. Equities analysts forecast that e.l.f. Beauty will post 2.64 earnings per share for the current year.

e.l.f. Beauty Profile

e.l.f. Beauty NYSE: ELF is an American cosmetics company known for offering an extensive range of affordable, trend-driven makeup and skincare products. The company's portfolio spans foundations, lipsticks, mascaras, brushes, serums, masks and other beauty essentials, all positioned at accessible price points. e.l.f. Beauty maintains a direct-to-consumer platform through its e-commerce site and engages in widespread retail partnerships with major chains such as Target, Walmart, Ulta Beauty and Amazon.

Founded in 2004 and headquartered in Oakland, California, e.l.f.

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