Capital International Investors Raises Holdings in Toast, Inc. $TOST

Capital International Investors increased its position in Toast, Inc. (NYSE:TOST) by 7.4% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 48,428,060 shares of the company’s stock after buying an additional 3,351,545 shares during the period. Capital International Investors owned 0.09% of Toast worth $1,768,256,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Cim LLC grew its holdings in Toast by 0.7% during the 2nd quarter. Cim LLC now owns 38,302 shares of the company’s stock valued at $1,696,000 after buying an additional 273 shares in the last quarter. Bridgewater Advisors Inc. raised its holdings in shares of Toast by 2.3% during the 3rd quarter. Bridgewater Advisors Inc. now owns 13,107 shares of the company’s stock worth $472,000 after acquiring an additional 294 shares in the last quarter. Trinity Financial Advisors LLC boosted its position in shares of Toast by 2.5% during the 3rd quarter. Trinity Financial Advisors LLC now owns 12,094 shares of the company’s stock valued at $442,000 after acquiring an additional 296 shares during the last quarter. Parkside Financial Bank & Trust grew its holdings in shares of Toast by 4.6% in the second quarter. Parkside Financial Bank & Trust now owns 6,921 shares of the company’s stock valued at $307,000 after purchasing an additional 306 shares in the last quarter. Finally, Purus Wealth Management LLC grew its holdings in shares of Toast by 5.8% in the third quarter. Purus Wealth Management LLC now owns 6,002 shares of the company’s stock valued at $219,000 after purchasing an additional 330 shares in the last quarter. 82.91% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, CFO Elena Gomez sold 1,437 shares of the company’s stock in a transaction that occurred on Tuesday, February 3rd. The stock was sold at an average price of $30.34, for a total transaction of $43,598.58. Following the transaction, the chief financial officer owned 164,629 shares of the company’s stock, valued at approximately $4,994,843.86. This represents a 0.87% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, General Counsel Brian R. Elworthy sold 3,303 shares of the stock in a transaction that occurred on Monday, January 5th. The stock was sold at an average price of $34.38, for a total value of $113,557.14. Following the completion of the sale, the general counsel owned 235,757 shares in the company, valued at approximately $8,105,325.66. The trade was a 1.38% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 100,856 shares of company stock valued at $3,540,449 over the last quarter. Corporate insiders own 12.14% of the company’s stock.

Wall Street Analysts Forecast Growth

TOST has been the topic of a number of recent research reports. The Goldman Sachs Group decreased their price target on shares of Toast from $43.00 to $31.00 and set a “neutral” rating on the stock in a research note on Tuesday, February 17th. Wolfe Research downgraded shares of Toast from an “outperform” rating to a “peer perform” rating in a report on Thursday, January 8th. Canaccord Genuity Group set a $37.00 target price on shares of Toast in a research report on Friday, February 13th. Stephens set a $42.00 price target on shares of Toast in a report on Friday, January 16th. Finally, Mizuho dropped their price target on Toast from $57.00 to $45.00 and set an “outperform” rating for the company in a research report on Tuesday, February 17th. Seventeen investment analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $40.46.

Toast Stock Down 2.7%

NYSE TOST opened at $29.47 on Tuesday. Toast, Inc. has a 52 week low of $24.35 and a 52 week high of $49.66. The firm has a market capitalization of $15.44 billion, a price-to-earnings ratio of 54.57 and a beta of 1.95. The company has a fifty day moving average of $31.01 and a two-hundred day moving average of $35.23.

Toast (NYSE:TOST) last released its earnings results on Thursday, February 12th. The company reported $0.16 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.24 by ($0.08). Toast had a return on equity of 18.14% and a net margin of 5.56%.The firm had revenue of $1.63 billion during the quarter, compared to the consensus estimate of $1.62 billion. During the same quarter last year, the business posted $0.05 EPS. Toast’s revenue was up 22.0% compared to the same quarter last year. Equities research analysts anticipate that Toast, Inc. will post 0.39 EPS for the current year.

Toast announced that its board has authorized a stock repurchase program on Thursday, February 12th that allows the company to buyback $0.00 in shares. This buyback authorization allows the company to purchase shares of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s management believes its shares are undervalued.

Toast Profile

Toast, Inc (NYSE: TOST) is a technology company that builds a cloud-based platform for restaurants and other foodservice businesses. Headquartered in Boston, Massachusetts, Toast offers integrated point-of-sale (POS) systems and a suite of software and hardware designed to streamline front-of-house and back-of-house operations. The company went public in 2021 and has positioned itself as a vertically integrated provider for the restaurant industry.

Toast’s product portfolio includes touchscreen POS terminals and handheld order-and-pay devices, kitchen display systems, and peripherals tailored for high-volume foodservice environments.