Savoir Faire Capital Management L.P. Has $7.66 Million Holdings in e.l.f. Beauty, Inc. (NYSE:ELF)

Savoir Faire Capital Management L.P. grew its position in e.l.f. Beauty, Inc. (NYSE:ELF) by 20.2% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 70,224 shares of the company’s stock after acquiring an additional 11,781 shares during the quarter. e.l.f. Beauty makes up approximately 3.9% of Savoir Faire Capital Management L.P.’s holdings, making the stock its 4th largest position. Savoir Faire Capital Management L.P.’s holdings in e.l.f. Beauty were worth $7,657,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the company. Canada Pension Plan Investment Board acquired a new position in e.l.f. Beauty during the 2nd quarter valued at approximately $6,659,000. Cetera Investment Advisers boosted its position in e.l.f. Beauty by 33.8% during the 2nd quarter. Cetera Investment Advisers now owns 39,319 shares of the company’s stock worth $8,285,000 after acquiring an additional 9,939 shares during the period. Clearbridge Investments LLC boosted its position in e.l.f. Beauty by 84.4% during the 2nd quarter. Clearbridge Investments LLC now owns 1,259,644 shares of the company’s stock worth $265,432,000 after acquiring an additional 576,383 shares during the period. Congress Asset Management Co. boosted its position in e.l.f. Beauty by 14.2% during the 3rd quarter. Congress Asset Management Co. now owns 503,577 shares of the company’s stock worth $54,905,000 after acquiring an additional 62,480 shares during the period. Finally, Allspring Global Investments Holdings LLC boosted its position in e.l.f. Beauty by 55.8% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 730,377 shares of the company’s stock worth $79,633,000 after acquiring an additional 261,707 shares during the period. 92.44% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts have issued reports on ELF shares. DA Davidson reduced their price target on e.l.f. Beauty from $223.00 to $170.00 and set a “buy” rating for the company in a research report on Thursday, November 7th. TD Cowen reduced their price target on e.l.f. Beauty from $235.00 to $150.00 and set a “buy” rating for the company in a research report on Thursday, September 12th. Truist Financial cut their price objective on e.l.f. Beauty from $210.00 to $130.00 and set a “buy” rating for the company in a report on Wednesday, October 16th. Stifel Nicolaus cut their price objective on e.l.f. Beauty from $131.00 to $115.00 and set a “hold” rating for the company in a report on Thursday, November 7th. Finally, JPMorgan Chase & Co. cut their price objective on e.l.f. Beauty from $167.00 to $154.00 and set an “overweight” rating for the company in a report on Thursday, November 7th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, twelve have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, e.l.f. Beauty currently has an average rating of “Moderate Buy” and a consensus target price of $173.53.

Insiders Place Their Bets

In other news, CEO Tarang Amin sold 23,528 shares of the company’s stock in a transaction dated Thursday, September 5th. The stock was sold at an average price of $136.45, for a total transaction of $3,210,395.60. Following the completion of the sale, the chief executive officer now owns 106,016 shares in the company, valued at approximately $14,465,883.20. This represents a 18.16 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 3.50% of the company’s stock.

e.l.f. Beauty Stock Up 1.3 %

NYSE:ELF opened at $122.85 on Tuesday. The company has a current ratio of 1.78, a quick ratio of 1.01 and a debt-to-equity ratio of 0.22. e.l.f. Beauty, Inc. has a 1-year low of $98.50 and a 1-year high of $221.83. The business’s fifty day moving average price is $111.39 and its 200 day moving average price is $154.07. The firm has a market capitalization of $6.92 billion, a price-to-earnings ratio of 66.41, a PEG ratio of 2.66 and a beta of 1.44.

e.l.f. Beauty (NYSE:ELF) last issued its earnings results on Wednesday, November 6th. The company reported $0.77 earnings per share for the quarter, topping the consensus estimate of $0.43 by $0.34. e.l.f. Beauty had a return on equity of 19.34% and a net margin of 8.87%. The company had revenue of $301.10 million for the quarter, compared to analyst estimates of $289.43 million. During the same period in the prior year, the firm posted $0.66 EPS. The business’s revenue was up 39.7% compared to the same quarter last year. On average, sell-side analysts forecast that e.l.f. Beauty, Inc. will post 2.8 earnings per share for the current fiscal year.

About e.l.f. Beauty

e.l.f. Beauty, Inc, together with its subsidiaries, provides cosmetic and skin care products under the e.l.f. Cosmetics, e.l.f. Skin, Well People, and Keys Soulcare brand names worldwide. The company offers eye, lip, face, face, paw, and skin care products. It sells its products through national and international retailers and direct-to-consumer channels, which include e-commerce platforms in the United States, and internationally primarily through distributors.